16 Hour SAFE Elective: VA Fundamentals (NMLS Course ID 1104) is approved to apply towards 16 hours of the NMLS prelicensing Elective requirements. This highly interactive instructor-led course focuses on the VA mortgage product.
If you are considering entering the VA mortgage business, taking this course will help you understand the important differences between VA 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 VA mortgage loans will benefit everyone in your company - from managers to operations staff.
During the three-week course period, you will gain insights into the VA mortgage lending industry, as well as knowledge about important new regulations affecting loan origination. You will gain skills in the key areas for success, such as making calculations, completing forms and worksheets and understanding requirements for appraisals, eligibility, and income.
We recommend that you have a basic knowledge of mortgage banking (origination or processing), but everyone is welcome. By the end of the course, you will have gained a firm foundation in all functions of origination, processing, and closing VA mortgages and you will be able to:
Calculate maximum loan amounts on purchase and refinance transactions
Determine if a veteran has adequate eligibility for the mortgage loan
Analyze credit, asset, and income requirements specific to the VA product
Interpret basic VA appraisal requirements
To learn more about this course, including additional upcoming dates and related programs, visit the course description page.
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| This is a three-week, instructor-led, web-based course. The course begins with an introductory call on February 10, 2010 and continues from February 15, 2010 to March 6, 2010. The concluding call will be held on March 10, 2010. |