In order to properly service commercial loans, it is necessary to understand certain requirements of the loan documents. There is no substitute for checking the loan documents whenever an issue arises, even if a loan's key terms have been set up on the servicing database. Navigating Commercial Loan Documents is intended to assist servicing personnel in locating important servicing information/requirements among the various agreements typically used to document a commercial real estate loan.

Designed for commercial mortgage servicing professionals with 4-7 years' experience, Navigating Commercial Loan Documents begins with an overview of the life cycle of commercial loan documents, from initial application to loan payoff. The course then provides an in-depth look at the mortgage note and the security instrument (mortgage, deed of trust, or trust deed), as well as key provision elements of the documents relevant to the commercial loan servicer. The course concludes with an overview of other loan file and supporting documents.

Course Outline:

Lesson 1 - Overview of Commercial Loan Documents

• Life Cycle of Commercial Mortgage Loan Documents
• Borrower Application and Underwriting
• Closing Process
• Servicer's Use of the Commercial Mortgage Loan Documents
• Interview with an Expert

Lesson 2 - Promissory Note

• Basics of the Promissory Note
• Billing and Payment
• Prepayment and Payoff
• Default

Lesson 3 - Security Instrument

• Basics of the Security Instrument
• Granting of Collateral
• Establishing Financial Requirements and Procedures
• Transfer and Sale of the Property
• Physical Conditions and Operations of the Property
• Protecting Against Casualty and Condemnation
• Default and Remedies

Lesson 4 - Other Loan File and Supporting Documents

• Loan Agreements
• Modification Documents
• Leasing Agreements
• Monetary Agreements
• Property Documents

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 Commercial Servicer Professional Certificate (Commercial CMS Level II).