Essentials of Servicing Transfers will focus on the basic transfer procedures as well as differences in the procedures by product. This course also discusses common trouble areas which can impact the transfer process, with a brief look at the impact on business units.

This course addresses the issue of due diligence as it pertains to servicing transfers and the mortgage industry. Due diligence is a vital component of the transfer of servicing process. If done accurately, it can smooth the transition and avert costly errors by spotlighting potential issues regarding the loans in the portfolio.

All mortgage servicing professionals will gain insights into the transfer process and its various aspects. The course includes a thorough due diligence sample document which can serve as a guide to servicers who wish to set up or improve their current process.

Course Outline:

Lesson 1 - Servicing Transfers Overview

• Introducing Servicing Transfers
• The Transfer Process & Types of Transfers
• Servicing Transfers & Due Diligence
• Government Sponsored Enterprises
• Non-Government Sponsored Enterprises

Lesson 2 - Servicing Transfers: The Process

• The Acquisition Team & Due Diligence
• Actions Performed by the Buyer
• Seller's Requirements: Files, Reports, and Escrow Analysis
• RESPA Requirements
• Notification Requirements

Lesson 3 - Investor Requirements

• Private Investors
• Fannie Mae
• Freddie Mac
• Ginnie Mae

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 Professional Certificate (CMS Level II).