Instructor-led Online Course

This course is designed for those new to underwriting FHA loans, but have experience underwriting conventional loans, and can complete an analysis of credit, liability, income and, asset documentation. This course consists of underwriting basics specific to FHA, such as: borrower eligibility, property eligibility, loan limits, mortgage transactions, mortgage insurance premiums, FHA programs and more. The target audience would include processors, underwriters, quality control staff, and anyone who wants to better understand the underwriting process of FHA loans.

What it's about

By the end of this course students will be able to effectively transition from conventional to FHA underwriting; be able to calculate mortgage insurance premiums (MIP) and maximum mortgage amounts and determine eligibility for the applicant and property.

Classes consist of four 90-minute live sessions with instructors delivered through the WebEx training platform.

Class Schedule

Tuesdays, September 5, 12, 19, and 26, 2017,
12:00 p.m. - 1:30 p.m. ET
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Tuesdays, October 3, 10, 17 and 24, 2017,
2:00 p.m. - 3:30 p.m. ET
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Tuesdays, November 7, 14, 21 and 28, 2017,
12:00 p.m. - 1:30 p.m. ET
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Tuesdays, December 6, 13, 20, and 27, 2017,
12:00 p.m. - 1:30 p.m. ET
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View Education Calendar

Learning Goals and Objectives:

Upon completion of the course, students will be able to:

  • Identify the most common FHA Programs and requirements
  • Recognize the forms required for FHA financing
  • Calculate loan amounts, qualifying ratios and mortgage insurance premiums
  • Identify FHA technology as it applies to underwriting
  • List the borrower benefits when financing with a FHA loan
  • Identify basic income, assets and related underwriting policies
  • Identify basic credit history, liabilities and related underwriting policies
  • Recognize things that affect maximum mortgage
  • Identify differences between conventional and FHA appraisal requirements

Target Audience:

  • Processors
  • Underwriters
  • Quality Control Staff

Benefits

  • Enhance your underwriting skills
  • Add a new program to your tool belt when you add FHA to your underwriting resume’.

Program Details:

Session One - Topics

  • Introduction to FHA
    • FHA Direct Endorsement
    • FHA versus Conventional
  • Using FHA Technology
  • Required Documents and Disclosures

Session Two - Topics

  • TOTAL Scorecard
    • List acceptable sources of funds?
  • Maximum loan amount
  • Transactions that affect the loan amount
  • Mortgage Insurance Premiums
  • Complete a 92900LT

Session Three - Topics

  • Analyzing the File (FHA differences only)
    • Credit and Liabilities
    • Non-Traditional Credit
    • Employment and Income
    • Qualifying Ratios and Compensating factors
    • Assets and Funds to Close

Session Four - Topics

  • FHA Property Eligibility
    • Location
    • Hazards
    • Private water and sewer
    • Flood insurance
    • Rural and farm property
  • Completion of the TOTAL Scorecard Evaluation

Tuition & Registration

The course is $600 per person. Tuition includes all course materials. Upon successfully completing the course, students will earn an industry-recognized certificate of completion.