This web-based self-study course provides an overview of the considerations and processes involved with the servicing of contemporary home equity products. This course is designed for anyone interested in learning more about today's equity product market and how these products are being serviced. The course is ideal for customer service representatives, mortgage accountants, and any other employees seeking a well-rounded understanding of equity products.
Course Outline:
Lesson 1 - Introduction to Equity Products
- Introduction to Equity Products
- Special HELOC Terms
- More About Equity Products
- When Are Home Equity Products Used?
- Evolution of Equity Products
- Laws and Regulations
Lesson 2 - Servicing Implications of Equity Products
- Servicing Functions
- Risk Assessment and Abatement
- Credit Limits
- Advancement of Funds
- Possible Actions by the Servicer
- Fees
- The Billing Statement
- The Billing Process
- Payments
- Calculating HELOC Payments
Course Credit:
Completion of this course earns five points toward MBA's Certified Mortgage Banker (CMB), or Certified Mortgage Technologist (CMT) designations. This course also earns five points towards MBA's Mortgage Servicer: Loan Administration (CMS Level II) Professional Certificate. |