26 Hour SAFE Elective: FHA Fundamentals (NMLS Course ID 1063) is approved to apply towards 26 hours of the NMLS prelicensing Elective requirements. This highly interactive instructor-led course focuses on the FHA 203(b) loan program.

If you are considering entering the FHA mortgage business, taking this course will help you understand the important differences between FHA and conventional mortgages. The regulations, compliance requirements, forms and processes are different; and understanding the key aspects of how a company deals with consumers, how to market, process, underwrite and close FHA mortgage loans will benefit everyone in your company -from managers to operations staff.

During the six-week course period, you will examine the following topics:

• General Program Requirements
• Purchase Transactions
• Underwriting the Borrower
• FHA Appraisal Basics
• Refinance Transactions

All of the topics will be covered during the five weeks of instruction utilizing the newly written materials from The Practical Guide to FHA Lending.

We recommend that you have a basic knowledge of mortgage banking (origination or processing), but everyone is welcome. If you have had limited experience in the industry, completing the Mortgage Banking Primer web course or an equivalent before taking this course may prove helpful. By the end of the course, you will have gained a firm foundation in all functions of FHA 203(b) loan production and you will be able to:

• Calculate maximum loan amounts on purchase and refinance transactions.
• Determine seller and lender contributions.
• Understand the required application and underwriting documentation specific for an FHA loan.
• Interpret basic FHA appraisal requirements.

To learn more about this course, including additional upcoming dates and related programs, visit the course description page.