Introduction to Credit Union's policy and procedures
2
Understanding mortgage lending principles
3
Learning about different types of loans and mortgages
4
Product Knowledge training
5
Training on Credit Union's proprietary mortgage underwriting software
6
Understanding Risk Assessment Criteria
7
Training on Compliance Laws related to mortgage lending
8
Introduction to the documentation required in mortgage lending process
9
Training on Evaluation of borrowers profile
10
Understanding the process of Property Evaluation and Market Analysis
11
Learning about Loan-to-Value ratio
12
Approval: Underwriting Assistant
13
Analysis of Borrowers' Credit Reports
14
Approval: Credit Review Manager
15
Learning about maintaining privacy and confidentiality of borrowers information
16
Certification on the Fair Lending Laws
17
Customer Service skills training
18
Approval: Loan Operations Manager
19
Learning about Foreclosure and Bankruptcy procedures
20
Introduction to ongoing training and skill improvements
Introduction to Credit Union's policy and procedures
In this task, you will be introduced to the policies and procedures of our Credit Union. This is crucial for understanding the framework within which we operate and ensuring compliance. By the end of this training, you will have a clear understanding of the policies that guide our mortgage underwriting process. Are you ready to dive in?
1
Mortgage underwriter
2
Loan officer
3
Manager
4
Customer service representative
5
Administrator
Understanding mortgage lending principles
This task will provide you with a thorough understanding of the fundamental principles of mortgage lending. You will learn about the key concepts, such as interest rates, loan terms, and repayment options. Additionally, we will explore the importance of creditworthiness in mortgage lending. By the end of this training, you will possess the knowledge required to effectively evaluate mortgage applications. Let's get started!
1
Interest rates
2
Loan terms
3
Repayment options
4
Creditworthiness
5
Risk assessment
Learning about different types of loans and mortgages
In this task, we will explore the various types of loans and mortgages available in the market. You will become familiar with conventional loans, government-backed loans, and specialty mortgage products. Understanding the differences and benefits of each type of loan will equip you to better assist borrowers in selecting suitable mortgage options. What aspects of learning about different types of loans excite you?
1
Conventional loans
2
FHA loans
3
VA loans
4
Jumbo loans
5
Adjustable-rate mortgages
Product Knowledge training
This task focuses on training you on the various mortgage products offered by our Credit Union. You will gain an in-depth understanding of the features, eligibility criteria, and benefits of each product. Being well-versed in our product range will enable you to guide borrowers effectively and address their specific needs. Are you ready to become an expert in our mortgage products?
1
Fixed-rate mortgages
2
Adjustable-rate mortgages
3
Interest-only mortgages
4
FHA loans
5
VA loans
Training on Credit Union's proprietary mortgage underwriting software
In this task, you will receive comprehensive training on our Credit Union's proprietary mortgage underwriting software. You will learn how to navigate the system, input and analyze borrower information, generate reports, and ensure data accuracy. Proficiency in our software is crucial for efficient and accurate mortgage underwriting. Let's dive into the world of our proprietary software!
Understanding Risk Assessment Criteria
This task will provide you with a deep understanding of the risk assessment criteria used in mortgage underwriting. You will learn how to evaluate various risk factors, such as credit score, debt-to-income ratio, and employment stability. By developing a comprehensive understanding of risk assessment, you will be able to make informed decisions and mitigate potential risks. Let's dive into the world of risk assessment!
1
Credit score
2
Debt-to-income ratio
3
Employment stability
4
Property value
5
Loan-to-value ratio
Training on Compliance Laws related to mortgage lending
In this task, you will receive comprehensive training on the compliance laws and regulations related to mortgage lending. You will gain an understanding of the legal framework governing the mortgage industry and the responsibilities of mortgage underwriters. Compliance with these laws is crucial to protect both borrowers and the Credit Union. Are you ready to become a compliance expert?
1
Truth in Lending Act
2
Real Estate Settlement Procedures Act (RESPA)
3
Equal Credit Opportunity Act
4
Fair Housing Act
5
Home Mortgage Disclosure Act
Introduction to the documentation required in mortgage lending process
This task will introduce you to the essential documentation required in the mortgage lending process. You will learn about the necessary financial documents, employment verification, property documents, and other relevant paperwork. Understanding the importance of documentation will enable you to assess borrower eligibility accurately. Let's dive into the world of mortgage documentation!
1
Tax returns
2
Pay stubs
3
Bank statements
4
W-2 forms
5
Property title documents
Training on Evaluation of borrowers profile
In this task, you will receive training on evaluating borrowers' profiles for mortgage applications. You will learn how to analyze the financial, employment, and credit information of borrowers to determine their eligibility. A comprehensive evaluation will ensure a fair and accurate assessment of borrowers' ability to repay the loan. Let's dive into the world of borrower profile evaluation!
Understanding the process of Property Evaluation and Market Analysis
This task aims to familiarize you with the process of property evaluation and market analysis in mortgage underwriting. You will learn how to assess the value, condition, and marketability of properties to calculate the loan-to-value ratio accurately. Mastery in property evaluation and market analysis is essential for making informed lending decisions. Are you ready to become an expert in property assessment?
Learning about Loan-to-Value ratio
In this task, you will learn about the loan-to-value (LTV) ratio, a crucial metric in mortgage lending. You will understand how to calculate the LTV ratio and its significance in assessing the risk of a mortgage loan. Mastery in evaluating the LTV ratio will enable you to make informed decisions based on the risk associated with each loan. Let's dive into the world of loan-to-value ratio!
1
The ratio of the loan amount to the property value
2
The ratio of the loan amount to the borrower's income
3
The ratio of the loan amount to the borrower's credit score
4
The ratio of the down payment to the property value
5
The ratio of the interest rate to the loan amount
Approval: Underwriting Assistant
Will be submitted for approval:
Understanding mortgage lending principles
Will be submitted
Learning about different types of loans and mortgages
Will be submitted
Product Knowledge training
Will be submitted
Training on Credit Union's proprietary mortgage underwriting software
Will be submitted
Understanding Risk Assessment Criteria
Will be submitted
Training on Compliance Laws related to mortgage lending
Will be submitted
Introduction to the documentation required in mortgage lending process
Will be submitted
Training on Evaluation of borrowers profile
Will be submitted
Understanding the process of Property Evaluation and Market Analysis
Will be submitted
Learning about Loan-to-Value ratio
Will be submitted
Analysis of Borrowers' Credit Reports
This task will equip you with the skills to analyze borrowers' credit reports effectively. You will learn how to interpret credit scores, identify derogatory information, and evaluate creditworthiness. Accurate analysis of credit reports is crucial for assessing borrowers' ability to handle mortgage repayments. Are you ready to explore the world of credit reports?
Approval: Credit Review Manager
Will be submitted for approval:
Analysis of Borrowers' Credit Reports
Will be submitted
Learning about maintaining privacy and confidentiality of borrowers information
This task emphasizes the importance of maintaining privacy and confidentiality when dealing with borrowers' sensitive information. You will learn about the ethical and legal obligations involved in safeguarding borrowers' data. Adhering to strict privacy protocols is crucial for building trust and ensuring the security of borrowers' personal and financial information. Are you ready to prioritize privacy and confidentiality?
1
Data encryption
2
Access control
3
Secure storage
4
Consent management
5
Data anonymization
Certification on the Fair Lending Laws
In this task, you will receive certification training on fair lending laws and regulations. You will gain a comprehensive understanding of the laws that prohibit discrimination in mortgage lending based on factors such as race, color, religion, national origin, sex, marital status, age, and others. Fair lending practices are essential for upholding our commitment to equal opportunities. Are you ready to become a fair lending champion?
Customer Service skills training
This task focuses on enhancing your customer service skills in the context of mortgage lending. You will learn effective communication techniques, empathy, problem-solving, and conflict resolution strategies. Delivering exceptional customer service is crucial for building positive relationships with borrowers and ensuring their satisfaction throughout the mortgage process. Let's sharpen your customer service edge!
Approval: Loan Operations Manager
Learning about Foreclosure and Bankruptcy procedures
This task will familiarize you with the foreclosure and bankruptcy procedures associated with mortgage lending. You will obtain an understanding of the legal processes, documentation requirements, and potential challenges involved in handling foreclosure and bankruptcy cases. Proficiency in these procedures is crucial for managing risk and protecting the Credit Union's interests. Are you ready to delve into foreclosure and bankruptcy procedures?
1
Foreclosure procedures
2
Bankruptcy procedures
3
Legal documentation
4
Strategies for risk mitigation
5
Communication with borrowers
Introduction to ongoing training and skill improvements
This task serves as an introduction to ongoing training and skill improvements within our Credit Union. You will learn about the importance of continuous learning, professional development opportunities, and resources available to enhance your mortgage underwriting skills. Embracing ongoing training and skill improvements is crucial for staying updated with industry trends and maintaining your competitive edge. Let's embark on a journey of continuous growth!
