|
Mortgage Servicing
for Beginners
Do you need help training your new employees? If you answered yes, we have a solution for you.
Mortgage Servicing for Beginners
This manual was written to save time for managers and supervisors. Instead of creating the material yourself, use our "Mortgage Servicing for Beginners" manual. It can be used for conducting training class or provide it to employees to keep at their desk and use as reference material. The manual includes the following:
- Mortgage Terminology - Explains words used in mortgage servicing every day such as mortgagor, mortgagee, investor, MBS pools, Servicer, GSE(s) and many more.
- History of Mortgage Banking - starts with the creation of the FHA in1934 and includes Fannie Mae, Freddie Mac, VA, PMIs, Ginnie Mae, MBS(s).
- The Loan Process - Covers the role of the buyer, seller, real estate agent, loan officer, appraiser, title company, FICO scores, title search – just to name a few.
- Loan Types - Explains, FHA, VA, Conventional and PMI loans and covers several loan programsLoan Documents - Employees will learn the difference between the Deed of Trust and Mortgage and will learn about the Deed to the property and the Note.
- Mortgage Loan Servicing - The functions handled by a typical mortgage loan servicing department are explained.
- Federal Laws - Explains several federal laws affecting the mortgage banking industry.
- Amortization of the Loan - Explains how the loan amortizes and illustrates additional principal payments. Updated September 2009
Enjoy our articles or submit your own. Click Here.
|
 |
 |
