Consumer Loan Training Courses

Tame those scary real-estate loan problems with our consumer loan training courses!

With our consumer loan and loan processor training courses, you will learn the basics of consumer lending and loan processing, including the various types of loans, the various lending requirements, and the requirements and best practices for loan processing.

Specificall, you will learn about loan structure, loan support, and documentation issues that are an intricate part of the consumer lending process, as well as Reg B, Reg Z, TRID, BSA, and Fair Credit Reporting.

Learning Objectives: Consumer Loan Training Courses

• Income Calculations and Documents
• Employment
• Debt Structure
• Credit Review

• Ratios
• Compensating Factors
• Truth in Lending
• TRID requirements
• RESPA
• HMDA (including the 2018 applicability rules)
• Reg B
• Flood insurance
• Appraisals and evaluations
• FACTA credit score disclosures
• Insurance disclosures
• Military Lending Act

Learning Objectives: Loan Processor Training

While Loan Officers are responsible for generating loan business and taking the initial loan application, Loan Processors typically do the hard work of double checking the paperwork, correcting any errors, and corresponding with the underwriter to make sure the loan is approved.

Essentially, once a loan is originated by the mortgage broker or loan officer, the corresponding paperwork is sent along to a loan processor. The loan processor is then responsible for prepping and organizing the file and getting it over to the bank or mortgage lender for approval.

This work includes:

• Organizing the loan application's documentation and makes sure it is in order
  
• Reviewing the loan package as given by the lender for completeness and accuracy
  
• Verifying the borrower's credit history in terms of debts and payments
  
• Checking appraisal and property issues requiring further justifications
  
• Determining if the application and ensuring requirements and paperwork comply with the lender's standards
  
• Contacting the borrower if information is missing or if additional information or documentation is required