Creative Mortgage Options to Get More Clients
Learn about the mortgage industry, and the latest developments in the world of private lending.
About the Course
On the Schedule:
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In the Creative Mortgages course, you’ll learn about the latest developments in the Private Lending (Non-QM) market. Led by an industry expert on private lending, you’ll get an inside look into the nuances of the financing side of real estate transactions.
We’ll begin with an overview of the loan market, events that have shaped it, types of loans, and relevant calculations and and measurements. Towards the end of the course, we’ll dive into private lending, major types of Non-QM loans, and common questions surrounding this burgeoning industry. Armed with a better understanding of the mortgage industry, you can help more buyers in different situations discover the steps they can take to secure financing for their home.
Course Content
Schedule
Course Outlines
10:00 – 10:10
Introduction:
The instructor will facilitate and encourage the class to get to know each other, foster a sense of community in the class, and help students learn from each other. To get us started, please tell us your name, and your professional interest in this course.
10:10-10:15
Learning Objectives
SECTION 1 From Subprime Lending to Qualified Mortgage
10:15-10:25
Mortgage Financing, Qualifying Borrower for Mortgage
10:25-10:35
Subprime Mortgages
10:35-10:45
Interagency Guidance on Non-Traditional Mortgage of 2006
10:45-10:55
Statement on Subprime Mortgage Lending of 2007
10:55-11:10
“QM Rule” under Dodd-Frank Wall Street Reform and Consumer Protection Act of 2014
11:10-11:25
Types of QM Loans: - General QM
- Temporary QM
- Small Creditor
11:25 -11:40
GSE Patch and its Expiration
SECTION 2 Learning Products and Programs
11:40 – 11:50
Traditional (QM) VS Non-Traditional (Non-QM)
11:50 – 12:00
Fixed Rate Mortgage
12:00 – 12:15
Break
12:15 – 12:30
Adjustable Rate Mortgage (ARM)
- Components of ARM
- Index and Margin
- Interest Rate Caps
- Interest Rate Caps Math
12:30 – 12:50
Calculation of Interest:
- Simple Interest
- Fixed Rate Amortization
- Adjusted Payment Calculation
12:50 – 13:00
Negative Amortization (Neg-AM):
- Neg-AM Features
- Neg-AM Math
SECTION 3 Types of Non-Traditional Products and Programs
13:00 – 13:15
Types of ARM:
- Hybrid ARM
- Interest-only ARM
- Payment option ARM
13:15-13:25
Interest-only Rate
- Advantages and Disadvantages
- Interest-only Mortgage today
13:25-13:30
Adjustable Rate Mortgage is a good fit?
13:30-13:40
Balloon Loan:
- Comparison with 30-year Fixed-rate Loan
- Risks and a good fit
- Examples
13:40 – 13:50
HELOC – Home Equity Line of Credit
13:50 – 13:55
Jumbo Loans
13:55 – 14:05
Why Non-Traditional Mortgages are Coming Back?
14:05 – 14:10
Is Non-QM the Same as a Subprime Loan?
14:10 - 14:15
Survey
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