Special Loan Administration II begins with a focus on special loan features that can be attached to mortgages. In today’s market, lenders are becoming more creative in financing to attract potential homeowners. You will learn about the risks and advantages of special loan features applied to mortgage loans. This course will also discuss combination loans and emerging new loan products, such as home equity lines of credit and reverse mortgages. You will learn about the risks and advantages of these special loan products and the future of technology for servicing special loan products.

Course Outline:

Lesson 1 - Special Loan Features

• Interest Rate and Principal and Interest Changes
• Optional Payment
• Interest-Only Payment
• Step Rates

Lesson 2 - Special Loan Market Today

• Emerging Products
• Combination Loans
• The Future of Servicing Special Loans

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.