| Corporate Accounting Overview provides an overview of the corporate accounting function in mortgage loan servicing. The course begins with a look at the financial categories used for loan administration activities. Next it examines the role of various regulatory reporting agencies and their impact on the corporate accounting function. The final lesson reviews the role of the Financial Accounting Standards Board (FASB) in setting accounting standards and practices and describes four FASB standards that relate to loan administration.
Course Outline:
Lesson 1 - Financial Categories for Loan Administration
- Financial Categories
- Assets and Receivables
- Liabilities
- Deferrals
- Income
- Expenses
Lesson 2 - Government Financial Agencies
- Financial Regulatory Agencies
- FDIC - Federal Deposit Insurance Corporation
- OTS - Office of Thrift Supervision
- OCC - Office of the Comptroller of the Currency
- FRB - Federal Reserve Board
Lesson 3 - Accounting Standards
- Financial Accounting Standards Board
- FAS 91
- FAS 122
- FAS 133
- FAS 140
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, Financial Controls and Investor Administration Achievement Certificate (CMS Level I).
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