Mortgage Advance Training

Following is the outline we will cover during the Internship Training.

• Mortgage
• 7/23 and 5/25 Mortgages
• 3/1 5/1 7/1 and 10/1 ARMs
• Acceleration
• Adjustable Rate Mortgage (ARM)
• Adjusted Basis
• Adjustment Date
• Adjustment Interval
• Adjustment Period
• Affordability Analysis
• Amortization
• Amortization Term
• Annual Percentage Rate (APR)
• Appraisal
• Assessment
• Assignment
• Assumability
• Assumption
• Assumption Fee
• Balloon Mortgage
• Balloon Payment
• Biweekly Payment Mortgage
• Blanket Mortgage
• Borrower (Mortgagor)
• Bridge Loan
• Broker
• Buy Down
• Cash Flow
• Caps (interest)
• Caps (payment)
• Certificate of Eligibility
• Certificate of Reasonable Value (CRV)
• Certificate of Veteran Status
• Change Frequency
• Closing
• Closing Costs
• COFI
• Construction Loan
• Consumer Reporting Agency (or Bureau)
• Contract Sale or Deed:
• Conventional Loan
• Conversion Clause
• Credit Report
• Credit Risk Score
• Debt-to-Income Ratio
• Deed of Trust
• Default
• Deferred Interest
• Delinquency
• Department of Veterans Affairs (VA)
• Discount Point
• Down Payment
• Due-on-Sale-Clause
• Earnest Money
• Entitlement
• Equal Credit Opportunity Act (ECOA)
• Equity
• Escrow
• Escrow Disbursements
• Escrow Payment
• Fannie Mae
• Farmers Home Administration (FmHA)
• Federal Home Loan Bank Board (FHLBB)
• Federal Home Loan Mortgage Corporation(FHLMC)
• Federal Housing Administration (FHA)
• Federal National Mortgage Association (FNMA)
• FHA Loan
• FHA Mortgage Insurance
• FHLMC
• Firm Commitment
• First Mortgage
• Fixed Installment
• Fixed Rate Mortgage
• Fully Amortized ARM
• FNMA
• Foreclosure
• Freddie Mac
• Ginnie Mae
• Government National Mortgage Association (GNMA)
• Graduated Payment Mortgage (GPM)
• Growing Equity Mortgage (GEM)
• Guaranty
• Guarantee Mortgage
• Hazard Insurance
• Housing Expenses-to-Income Ratio
• HUD-1 Statement
• Impound
• Index
• Indexed Rate
• Initial Interest Rate
• Installment
• Insured Mortgage
• Interest
• Interest Accrual Rate
• Interest Rate Buy down Plan
• Interest Rate Ceiling
• Interest Rate Floor
• Interim Financing
• Investor
• Jumbo Loan
• Late Charge
• Lease-Purchase Mortgage Loan
• Liabilities
• Lien
• Lifetime Payment Cap
• Lifetime Rate Cap
• Loan
• Loan to Value Ratio
• Lock
• Margin
• Market Value
• Maturity
• MIP (Mortgage Insurance Premium)
• Monthly Fixed Installment
• Mortgage
• Mortgage Banker
• Mortgage Broker
• Mortgagee
• Mortgage Insurance
• Mortgage Life Insurance
• Mortgagor
• Negative Amortization
• Net Effective Income
• Non Assumption Clause
• Note
• Office of Thrift Supervision (OTS)
• One Year Adjustable Rate Mortgage
• Origination Fee
• Owner Financing
• Payment Change Date
• Periodic Payment Cap
• Periodic Rate Cap
• Permanent Loan
• PITI
• Pledged Account Mortgage (PAM):
• Points
• Power of Attorney
• Preapproval
• Prepaid Expenses
• Prepayment
• Prepayment Penalty
• Primary Mortgage Market
• Private Mortgage Insurance (PMI)
• Qualifying Ratios
• Rate Lock
• Realtor®
• Real Estate Agent
• Real Estate Settlement Procedures Act (RESPA)
• Recession
• Recording Fees
• Refinance
• Renegotiable Rate Mortgage
• RESPA
• Reverse Annuity Mortgage (RAM)
• Revolving Liability
• Satisfaction of Mortgage
• Second Mortgage
• Secondary Mortgage Market
• Security
• Securitization
• Seller Carry Back
• Servicer
• Servicing
• Settlement/Settlement Costs
• Shared Appreciation Mortgage (SAM)
• Simple Interest
• Standard Payment Calculation
• Step Rate Mortgage
• Survey
• Sweat Equity
• Third Party Origination
• Title
• Title Insurance
• Title Search
• Total Expense Ratio
• Truth in Lending
• Two Step Mortgage
• Underwriting
• Usury
• VA Loan
• VA Mortgage Funding Fee
• Variable Rate Mortgage (VRM)
• Verification of Deposit (VOD)
• Verification of Employment (VOE)
• Warehouse Fee
• Wraparound Mortgage
• Case Study
• Mortgage Seminars
• Live File process

​Special Projects Analysis

• ​Healthcare Projects
• Renewable Energy Projects
• Hospitality Projects (Nationwide)