AIB Overview     AIB Online     AIB Online Schedule     ABA eLearning     AIB Diplomas AIB INTRODUCTION TO MORTGAGE LENDING Course Description:  This program covers construction and permanent financing for residential property; real estate law; documentation; mortgage loan servicing; the secondary mortgage market; the role of government in mortgage lending; and residential real estate as an investment. The discussion of underwriting, processing, and servicing will give participants a framework for learning the mortgage lending business and refining their existing knowledge. Additionally, the coverage of laws and regulations affecting mortgage lending provide an understanding of mortgage lending's history and a glimpse into its future. Price $425 NYBA or ABA Members/$525 Non-Members $7.50 shipping/handling fee is added to AIB Online Courses with textbooks.  Length 16 Weeks Course Credits AIB: 3.0; ICB: 38.5 CLBB; ACE: See below Prerequisites None Required Software Adobe Acrobat Reader; Microsoft Internet Explorer Browser 7.0 or Mozilla Firefox 2.0 or higher Textbook An electronic copy of Introduction to Mortgage Lending, 3rd edition, is provided for this course. Audience:  Financial service professionals who want a broad overview of mortgage lending including those who intend to pursue a career in mortgage lending (business development, underwriting, processing) and those individuals who recently joined a mortgage lending department. Learning Objectives:  After successfully completing this program, participants will be able to: Discuss the involvement of commercial banks and other financial institutions in the real estate industry Explain how property is transferred from one owner to another and the legal implications of transfer of property Identify the principal federal laws that apply to the origination of home mortgage loans Explain the cost approach, market data approach, and income capitalization approach to real estate lending Describe the basic procedures involved in purchasing and selling residential property Understand the various functions and responsibilities of the loan servicing department Describe the organization, principal participants, and basic operations of the secondary mortgage market Identify government agencies and government-sponsored agencies that interact to further home ownership Explain why banks loan money on the security of income-producing property Topics to be covered include: Introduction to Real Estate and Mortgage Law The Law of Residential Real Estate Lending Determining Property Values Financing Residential Real Estate Servicing Residential Mortgage Loans The Secondary Mortgage Market Government Involvement in Mortgage Lending Construction Lending and Land Development Lending Investing in Residential Real Estate ACE College Credit Recommendation:  In the lower division baccalaureate/associate degree category, 3 semester hours in Mortgage Lending or Finance. Questions: Call NYBA Professional Development at (212) 297-1679 or email elegg@nyba.com.  The New York Bankers Association is a Local ABA Training Provider.