Reverse Mortgage Primer provides a broad overview to help students gain a foundation of knowledge about the functions involved in reverse mortgage lending. This course is designed for anyone new to the industry, those needing a refresher to enhance existing skills, and those who wish to learn new job skills for career advancement. As you progress, you will study the evolution of reverse mortgage lending, and the major players, regulations and processes involved in the reverse mortgage lending cycle shown below.
- Loan production -- originating or producing new reverse mortgage loans
- Loan administration -- servicing reverse mortgages
Course Outline:
Lesson 1 - Reverse Mortgage Loan Production
- Evolution of Reverse Mortgage Lending
- Meet the Reverse Mortgage Loan Producers (Originator's Role, Processor's Role, Underwriter's Role, Closer's Role)
- Major Institutions and Reverse Mortgage Loan Programs
- Complying with Regulations
- How Reverse Mortgage Loan Production Works
Lesson 2 - Reverse Mortgage Loan Administration
- Goals of Reverse Mortgage Loan Administration
- Meet the Reverse Mortgage Loan Administrators (New Loan Setup, Mortgage Accounting, Escrow Administration, Customer Service, Loss Mitigation)
- Complying with Regulations
- How Reverse Mortgage Loan Administration Works
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