Course Learning Objectives 

After completing this course, you will be able to:

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• Explain how to comply with pre-application and pre-disclosure requirements set forth by federal law and regulation specific to loan origination licensing, FHA lender registration, advertising, referrals, fee and documentation collection, and the exchange of electronic records.

• Identify requirements set forth by the Truth in Lending Act and Real Estate Settlement Procedures Act specific to providing mortgage disclosures with the correct content, within the required delivery timeframes, and within acceptable tolerances for change.

• Identify ECOA and FCRA adverse action notification requirements specific to content and delivery time.

• Define the features and risks of nontraditional mortgage products and methods for mitigating the associated risks.

• Describe the features of FHA-insured and VA-guaranteed mortgage programs and how they meet the home financing needs of specific borrowers.

• Explain how provisions of the Fair Housing Act, Equal Credit Opportunity Act, and Home Mortgage Disclosure Act work together to protect consumers from discriminatory and unfair housing, advertising, application inquiry, and loan decision practices.

• Identify the requirements of the Fair Credit Reporting Act, the Fair and Accurate Credit Transactions Act, and the Gramm-Leach-Bliley Act that protect consumers from fraud, identity theft, and unlawfully information-sharing.

• Describe the fundamentals of real estate valuation.