Mastering Mortgage Underwriting: A Crash Course

[kingers]

Mastering Mortgage Underwriting: A Crash Course
Published 1/2025
MP4 | Video: h264, 1920x1080 | Audio: AAC, 44.1 KHz
Language: English | Size: 890.71 MB | Duration: 2h 5m

Conventional Loan Essentials of Mortgage Underwriting to Evaluate Risk, Approve Loans, Excel in Real Estate Finance+

What you'll learn

Understand the role of underwriting in the mortgage process.

Learn the key stages of loan evaluation for conventional loans.

Analyze credit scores, credit reports, and payment histories.

Identify and address red flags like high credit utilization or late payments.

Calculate and verify income for W-2 and self-employed borrowers.

Understand how to evaluate stability and consistency of employment.

Determine acceptable sources of funds for down payments and reserves.

Identify and resolve red flags like large unexplained deposits.

Understand how property appraisals work and their importance in underwriting.

Calculate loan-to-value (LTV) ratios and evaluate property conditions.

Calculate front-end and back-end DTI ratios.

Use DTI ratios to assess a borrower's ability to repay a loan.

Navigate key regulations like ECOA, TILA, and FCRA.

Learn how to identify and prevent potential fraud.

Approve, deny, or suspend loans based on data analysis.

Document decisions clearly and prepare files for audits.

Work through practical case studies to solidify your skills.

Understand how to handle complex or borderline loan applications.

Requirements

English

Description

What is mortgage underwriting? How can I start a career as a mortgage underwriter?Start a career in underwriting by unlocking the world of mortgage underwriting in this comprehensive crash course designed for beginners and industry professionals looking to enhance their knowledge. Learn the core principles of evaluating conventional loan applications, assessing creditworthiness, and adhering to Fannie Mae and Freddie Mac guidelines.This crash course provides step-by-step instructions on the loan approval process, risk assessment, and compliance with industry standards. By the end, you'll gain the skills needed to make informed decisions and help clients navigate the home loan process with confidence.Whether you're an aspiring mortgage underwriter, a loan processor, a loan officer seeking to expand your expertise, or a real estate professional, this course is your fast track to success.WHAT YOU CAN EXPECT TO LEARN FROM THIS COURSE?Understand the fundamentals of mortgage underwriting for conventional loans.Assess borrower creditworthiness using industry-standard metrics.Analyze income, assets, and collateral to make sound loan decisions.Navigate Fannie Mae and Freddie Mac guidelines with ease.Identify and mitigate risks while ensuring compliance with legal standards.WHAT'S INCLUDED IN THIS COURSE?Instructor-led Lessons: Concise video tutorials to maximize learning in minimal time.Downloadable Resources: 4 Cheat sheets and templates for underwriting.Real-World Scenarios: Practical examples to apply your knowledge.Quizzes and Assessments: Test your understanding and track your progress.Lifetime access to the course and its contentInstructor Q and A: Have a question? Ask the instructor!Get to Know the Course Outline and what's covered in this course.Module 1: Introduction to Mortgage UnderwritingWhat is Mortgage Underwriting?The Role of an Underwriter in Conventional LoansOverview of Fannie Mae and Freddie Mac GuidelinesKey Differences Between Conventional Loans and Other Loan Types that are importantModule 2: Understanding the Loan Approval ProcessThe Mortgage Lifecycle: Going From Application to ClosingRequired Documentation: Credit Reports, Income Statements, and Asset VerificationAutomating the Underwriting Process with Desktop Underwriter (DU) and Loan Prospector (LP)Module 3: Credit Risk AssessmentEvaluating Credit Scores and Credit HistoryRed Flags in Credit Reports That You Need to Be Aware ofDebt-to-Income (DTI) Ratios: How to Calculate and Analyze a DTIModule 4: Income and Asset AnalysisVerifying Employment and Income for the different types of borrowersW-2s, Pay Stubs, and Tax ReturnsSelf-Employed Borrowers: Unique ConsiderationsEvaluating Assets for Down Payment and ReservesAcceptable vs. Unacceptable Sources of Funds (Very Important!)Module 5: Property Appraisal and Collateral ReviewUnderstanding the Role of Appraisals in the Underwriting ProcessReviewing Appraisal Reports: Red Flags and AdjustmentsCollateral Underwriting Standards That Must Be FollowedModule 6: Compliance and Risk MitigationAdhering to Legal and Regulatory GuidelinesFair Lending Practices and the Equal Credit Opportunity Act (ECOA)Fraud Detection and PreventionModule 7: Finalizing the Underwriting DecisionApprove, Deny, or Suspend? Making the Right CallDocumenting Decisions and Preparing for AuditsCollaborating with Loan Officers and Processors in an Efficient MannerModule 8: Case Studies and Practical ApplicationsOverview of Sample Loan ApplicationsHands-On Risk Assessment Scenarios: Practical ExercisesCommon Underwriting Challenges and How to Overcome ThemModule 9: Next Steps in Your Mortgage Underwriting CareerAdvancing Your Skills with Mortgage CertificationsNetworking and Job Opportunities in Mortgage UnderwritingTools, Resources, and Other Courses for Continued LearningWHO IS YOUR INSTRUCTOR?With over 18+ years in the mortgage industry and having closed hundreds of loans, Joe Correa is an industry leader who owns and runs Finibi Mortgage Inc. He has over 45,000+ students and thousands of positive reviews so you are in good hands!TAKING ACTIONThroughout the entire course, you will be asked to participate and take action so thzt you get hands on practice to absorb all the content you will learn. This isn't just theory, its practical applications to real world mortgage problems that you will encounter in your career. Get started learning and taking action.Now is the time to start a career in underwriting!This course comes with a 30-day money-back guarantee. If you're not satisfied, you'll get a full refund - no questions asked.Don't wait any longer to take your career to the next level. Enroll in Mastering Mortgage Underwriting today and gain the skills you need to succeed in the mortgage industry.Click the button below to get started now - and I'll see you in the course!Join thousands of professionals who've mastered mortgage underwriting. Enroll today, your success starts here!

Overview

Section 1: Module 1: Introduction to Mortgage Underwriting

Lecture 1 Welcome to this course!

Lecture 2 Underwriter salary potential, bonuses, and benefits

Lecture 3 What is mortgage underwriting, the process, the role, and key components

Lecture 4 A quick interruption

Section 2: Module 2: Understanding the Loan Approval Process

Lecture 5 Understanding the loan approval process, loan processors role, and the mortgage

Lecture 6 Tools used in underwriting, common ro(Si bloquean la publicidad, el sitio NO tendrá recursos para mantenerse)s, and the uw decision

Lecture 7 Mortgage underwriting template fundamentals checklist part 1

Lecture 8 Mortgage underwriting template fundamentals checklist part 2

Section 3: Module 3: Credit Risk Assessment

Lecture 9 What is credit risk assessment

Lecture 10 Key red flags in credit reports, DTI, and tools for credit risk assessment

Section 4: Module 4: Income and Asset Analysis

Lecture 11 Income and asset analysis

Lecture 12 W2 Borrower income calculation

Lecture 13 Self-employed borrower income calculation cheat sheet part 1

Lecture 14 Self-employed borrower income calculation cheat sheet part 2

Lecture 15 Acceptable vs unacceptible asset sources

Section 5: Module 5: Property Appraisal and Collateral Review

Lecture 16 Property appraisal and collateral review

Lecture 17 Understanding LTV and how it affects loan decisions when appraisals are low

Section 6: Module 6: Compliance and Risk Mitigation

Lecture 18 Compliance and risk mitigation

Lecture 19 Detecting and preventing fraud, risk mitigation strategies, and compliance

Section 7: Module 7: Finalizing the Underwriting Decision

Lecture 20 Finalizing the underwriting decision

Lecture 21 Collaborating with team members and preparing for audits

Section 8: Module 8: Case Studies and Practical Applications

Lecture 22 Case studies problems and solutions

Lecture 23 Interactive underwriter exercises

Lecture 24 Mortgage underwriting cheat sheet part 1

Lecture 25 Mortgage underwriting cheat sheet part 2

Section 9: Module 9: Next Steps in Your Mortgage Underwriting Career

Lecture 26 Your course certificate and the next steps in your underwriting journey

Lecture 27 Exploring advanced career opportunities, technology, and setting personal career

Lecture 28 Congratulations on completing this course

Individuals interested in starting a career in mortgage underwriting and need foundational knowledge.,Loan Processors who want to increase their knowledge of the underwriting process,Professionals who want to deepen their understanding of the underwriting process to better serve clients and collaborate with underwriters.,Brokers who aim to enhance their knowledge of underwriting guidelines to improve loan approval rates.,Agents or realtors looking to understand the mortgage process to assist clients more effectively.,Employees in banking or finance roles who want to transition into or better understand underwriting.,Business owners or freelancers involved in mortgage consulting or processing.,Individuals focusing on regulatory adherence and risk mitigation in mortgage lending.,Entry-level staff at mortgage companies who need training in underwriting basics.,College or university students studying finance, business, or real estate who want practical, industry-specific knowledge.,Individuals who want to understand how mortgages are evaluated and approved, whether for personal or professional reasons.

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