Web Links 

I. General Mortgage Industry Knowledge
A-1 Conventional/conforming
Federal National Mortgage Association [http://www.fanniemae.com]
Federal Home Loan Mortgage Corporation [http://www.freddiemac.com/]
 
http://www.freddiemac.com/corporate/buyown/english/preparing/right_for_you/
http://www.fanniemae.com/homebuyers/homepath/index.jhtml;jsessionid=XBJWKQVRSUFAFJ2FECHSFGA?p=Homepath
A-2 Government (FHA, VA)
FHA [http://www.fha.gov/]
100 Q & A about Buying a New Home http://www.fha.gov/buyer/100qa.cfm
VA [http://www.va.gov/]
Government National Mortgage Association [http://www.ginniemae.gov/]
Dept. of Housing and Urban Development [http://www.hud.gov/]
 
A-3 Jumbo/non-conforming
 
A-4 Sub-prime
 
A-5 Niche (Alt-A)
 
A-6 Second Mortgage
 
A-7 Construction
 
B-1 Fixed Rate
 
B-2 Variable Rate
Department of Housing and Urban Development http://www.hud.gov/offices/hsg/sfh/ins/203armt.cfm
Federal Reserve Board http://www.federalreserve.gov/pubs/arms/arms_english.htm
B-3 Index/Margin/Start Rate
Federal Reserve Board http://www.federalreserve.gov/pubs/arms/arms_english.htm#work
Treasury CMT 1 Yr http://www.federalreserve.gov/releases/h15/
 
 
 
B-4 Option ARMs
Federal Reserve Board http://www.federalreserve.gov/pubs/mortgage_interestonly/
B-5 Balloons
 
B-6 Piggyback
 
B-7 HELOCs
Federal Reserve Board http://www.federalreserve.gov/pubs/equity/equity_english.htm
Federal Trade Commission - 3 day http://www.ftc.gov/bcp/edu/pubs/consumer/alerts/alt037.shtm
B-8 Reverse Mortgages
Department of Housing and Urban Development (HUD) http://www.hud.gov/buying/rvrsmort.cfm
American Association of Retired Persons (AARP) http://www.aarp.org/money/revmort/

Federal Trade Commission
Get the Facts http://www.ftc.gov/bcp/edu/pubs/consumer/homes/rea13.shtm
http://www.ftc.gov/bcp/conline/pubs/alerts/revralrt.shtm
C-1 Service Release Premium (SRP)
C-2 Yield Spread Premium (YSP)
Department of Housing and Urban Development (HUD) http://www.hud.gov/content/releases/respafinal.pdf
C-3 Lender Fees
 
C-4 Price adjustments & Discounts
 
D-1 Payment and Ratios
Department of Housing and Urban Development (HUD)
D-2 Interest
Federal Reserve Board comparison calculator https://www.federalreserve.gov/apps/mortcalc/
D-3 Closing Costs
Federal Reserve Board http://www.federalreserve.gov/pubs/settlement/default.htm
D-4 Seller paid
 
D-5 LTV/ CLTV / HCLTV
 
D-6 Buydowns
 
E-1 Primary Market
Federal Trade Commission - Glossary of Terms http://www.ftc.gov/bc/realestate/resources/realestateglossary.pdf
E-2 Secondary Market
http://www.fanniemae.com/mbs/mbsbasics/index.jhtml?p=Mortgage-Backed+Securities&s=Basics+of+Fannie+Mae+MBS
F-1 Financial Markets and other General Matters
 
II Mortgage-Related Professional Practices
H-1 Real Estate Purchase Contracts and Addendums
UT Real Estate Purchase Contract http://www.realestate.utah.gov/REForms/New_REPC.pdf
UT Real Estate Division Other Approved Forms http://www.realestate.utah.gov/realestate/real_forms.html
H-2 Real Estate ownership and Restrictions
J-1 Approaches to valuation
USPAP http://www.occ.treas.gov/ftp/bulletin/2006-27a.pdf
J-2 Appraisal terms
 
J-3 Appraiser Licensing
 
K-1 SFR
 
K-2 Condo
 
K-3 Warrantable / non-warrantable
 
K-4 PUD
 
K-5 Multi-unit
 
K-6 Manufactured (mobile, modular, site-stick)
 
L-1 Hazard and related insurance
 
L-2 Mortgage insurance
 
 
Dropping http://www.ftc.gov/bcp/conline/pubs/alerts/pmialrt.shtm
 
L-3 Title and title insurance
 
III Federal Mortgage Related Law & Regulatory Compliance
M-1 RESPA and Regulation X
Department of Housing and Urban Development (HUD) http://www.hud.gov/offices/hsg/sfh/res/respa_hm.cfm
http://www.hud.gov/offices/hsg/sfh/res/respa_st.cfm
M-2 GFE
Department of Housing and Urban Development (HUD) http://www.hud.gov/offices/hsg/sfh/res/resconsu.cfm
M-3 HUD 1 & 1a
Department of Housing and Urban Development (HUD)
http://www.hud.gov/offices/hsg/sfh/res/resappa.cfm
M-4 Settlement cost booklet
Department of Housing and Urban Development (HUD) http://www.hud.gov/offices/hsg/sfh/res/sfhrestc.cfm
M-5 Notice of transfer of servicing
Department of Housing and Urban Development (HUD) http://www.hud.gov/offices/hsg/sfh/res/resp2605.cfm
 
M-6 Aggregate escrow analysis
Department of Housing and Urban Development (HUD) http://www.hud.gov/offices/hsg/sfh/res/respafaq.cfm
M-7 Kickbacks and referral fees
Department of Housing and Urban Development (HUD) http://www.hud.gov/offices/hsg/sfh/res/respamor.cfm
 
M-8 Exempt transactions
Department of Housing and Urban Development (HUD)
http://www.hud.gov/offices/hsg/sfh/res/resindus.cfm
M-9 Terms defined in RESPA
Department of Housing and Urban Development (HUD)http://www.hud.gov/offices/hsg/sfh/res/resp2602.cfm
http://www.hud.gov/assist/siteindex.cfm
 
M-10 Settlement services
Federal Reserve Board http://www.federalreserve.gov/pubs/settlement/default.htm
 
 
M-11 Affiliated business arrangements (ABA)
Department of Housing and Urban Development (HUD) http://www.hud.gov/offices/cir/test042606.cfm
M-12 Penalties
http://www.hud.gov/offices/hsg/sfh/res/respamor.cfm#CF
N-1 Truth-in-Lending Act (Regulation Z)
http://www.fdic.gov/regulations/laws/rules/6500-200.html
http://www.fdic.gov/regulations/laws/rules/6500-1400.html#6500part226tilregz
Federal Reserve Board http://www.federalreserve.gov/boarddocs/caletters/2003/0305/CA03-5Attach.pdf
 
 
N-2 APR
http://www.fdic.gov/regulations/laws/rules/6500-2280.html
 
N-3 Disclosure
Federal Trade Commission warning to Mortgage Advertisers http://www.ftc.gov/bcp/edu/pubs/consumer/alerts/alt023.pdf
 
N-4 Notice of Right to Cancel
Federal Trade Commission http://www.ftc.gov/bcp/edu/pubs/consumer/alerts/alt037.shtm
Federal Deposit Insurance Corporation 226.15 http://www.fdic.gov/regulations/laws/rules/6500-1650.html
N-5 Home Ownership and Equity Protection Act (HOEPA)
Federal Trade Commission http://www.ftc.gov/bcp/edu/pubs/consumer/homes/rea19.shtm
 
N-6 Homeowners Protections Act of 1998
The Act http://frwebgate.access.gpo.gov/cgi-bin/getdoc.cgi?dbname=105_cong_public_laws&docid=f:publ216.105.pdf
Federal Reserve Board http://www.federalreserve.gov/boarddocs/caletters/2004/0405/CA04-5Attach1.pdf
O-1 Fair Housing Act (FH Act)
The Act http://www.usdoj.gov/crt/housing/title8.htm
Federal Reserve Board http://www.federalreserve.gov/pubs/mortgage/MORBRO_3.HTM
O-2 Equal Credit Opportunity Act and Regulation B (ECOA)
The Act http://ecfr.gpoaccess.gov/cgi/t/text/text-idx?c=ecfr&sid=635f26c4af3e2fe4327fd25ef4cb5638&tpl=/ecfrbrowse/Title12/12cfr202_main_02.tpl
Federal Reserve Board http://www.federalreserve.gov/boarddocs/press/bcreg/2003/20030305/attachment.pdf
 
O-3 Home Mortgage Disclosure Act (HMDA)
The Act http://www.ffiec.gov/hmda/
O-4 Fair Credit Reporting Act (FCRA)
http://www.ftc.gov/os/statutes/fcrajump.shtm
The Act http://www.ftc.gov/os/statutes/fcradoc.pdf
O-5 Fair and Accurate Credit Transaction Act (FACTA)
http://www.ftc.gov/opa/2004/11/facta.shtm
P-1 Office of the Comptroller of the Currency
http://www.occ.gov/
P-2 Office of Thrift Supervision
http://ots.gov/
 
P-3 National Credit Union Administration
http://www.ncua.gov/
 
P-4 Federal Deposit Insurance Corp.
http://www.fdic.gov/
P-5 Department of Financial Institutions
http://www.dfi.utah.gov/
P-6 Federal Trade Commission
http://ftc.gov/
Mortgage & Real Estate documents Mortgage & Real Estate http://www.ftc.gov/bcp/menus/consumer/credit/mortgage.shtm
P-7 Department of Housing and Urban Development (HUD)
http://www.hud.gov/consumer/index.cfm
P-8 Utah Division of Real Estate
http://realestate.utah.gov/
 
Q-1 Fraud Statistics
 
Q-2 Fraud Detection
 
Q-3 Prevention
 
Q-4 Reporting
Federal Bureau of Investigations https://tips.fbi.gov/
State Insurance Fraud (most transactions have title insurance policies) http://www.ifd.utah.gov/
State of Utah Division of Real Estate http://www.realestate.utah.gov
 
Q-5 Penalties
 
R-1 Privacy statements
Gramm Leach Bliley Act http://www.ftc.gov/privacy/glbact/glbsub1.htm
Federal Trade Commission Info http://www.ftc.gov/privacy/privacyinitiatives/glbact.html
R-2 Federal compliance
 
R-3 Do Not Call/Fax
Federal Trade Commission http://www.ftc.gov/bcp/edu/microsites/donotcall/businfo.html
 
IV. Residential Mortgage Lending Practice
S-1 Qualifying Process
Federal Reserve Board http://www.federalreserve.gov/pubs/mortgage/MORBRO_2.HTM
S-2 URLA
Fannie Mae https://www.efanniemae.com/sf/formsdocs/forms/1003.jsp?from=hp
S-3 Disclosure documents
 
S-4 Financial statements and tax returns
 
S-5 Credit History
Free Credit Report - Official Site https://www.annualcreditreport.com/cra/index.jsp Credit Scoring
FICO Website http://www.myfico.com/Downloads/Brochures.aspx#uycs
 
S-7 Credit reporting Companies
 
S-8 Income
 
S-9 Expenses and Ratios
 
S-10 Property
 
S-11 Types of Acceptable assets
 
T-1 FHA Underwriting
 
T-2 VA Underwriting
 
T-3 Fannie Mae, Freddie Mac
 
T-4 LP, DU
 
T-5 Allowable seller-paid CC
 
U-1 Lock-in and float agreements
Federal Reserve Board http://www.federalreserve.gov/pubs/lockins/default.htm
 
U-2 Prepayment penalties
 
U-3 Handling client funds
 
U-4 Adverse action procedures
U-5 Legal implications of giving tax and real estate advice
 
U-6 Handling complaints
 
V-1 Closing conditions and funding conditions
 
V-2 Borrower review of closing
Department of Housing and Urban Development http://www.hud.gov/consumer/index.cfm
 
 
V-3 Uniform Settlement Statement (HUD-1)
Department of Housing and Urban Development (HUD) http://www.hud.gov/offices/hsg/sfh/res/resp2603.cfm
 
V-4 Note, trust deed, and applicable riders
 
V-5 TIL Federal box form
 
V-6 Compliance documents
 
W-1 Repurchasing / buy-back
 
W-2 Early default
 
W-3 Premium recovery
 
W-4 Foreclosure / NOD (procedures and timeframes)
 
V. Office Management and Supervision
X-1 Employee vs. subcontractor (W-2 vs. 1099)
Internal Revenue Service
Employee vs. Independent Contractor http://www.irs.gov/newsroom/article/0,,id=173423,00.html
Independent Contractor vs. Self-Employed http://www.irs.gov/businesses/small/article/0,,id=115041,00.html
Other IRS 1099 vs Contractor Information http://search.irs.gov/web/query.html?col=allirs&charset=utf-8&qp=&qs=-Wct%3A%22Internal+Revenue+Manual%22&qc=&qm=0&rf=0&oq=&qt=independent+contractor
 
X-2 Hiring/Firing
 
X-3 Sexual harassment
 
X-4 Family Medial Leave Act
The Act http://www.dol.gov/esa/whd/fmla/
X-5 Other federal labor laws
http://www.dol.gov/
Y-1 Ethics - why
Department of Housing and Urban Development (HUD) - predatory lending http://www.hud.gov/offices/hsg/sfh/pred/predlend.cfm
Y-2 Licensing requirements
Y-3 Mitigating liability/risk
 
Y-4 Developing
 
Y-5 Legal implications
 
Y-6 New loan officer training / evaluation / supervision
 
Z-1 Recordkeeping requirements
Z-2 Quality control / auditing
 
Z-3 Policies and procedures
 
Z-4 Compliance
VI. Utah State Statutes and Administrative Rules
AA-1 Statutes
Utah Statutes Mortgage [http://le.utah.gov/~code/TITLE61/61_05.htm]
AA-2 Administrative Rules
Utah Administrative Rules Mortgage [http://www.rules.utah.gov/publicat/code/r162/r162.htm] Web Links

© Copyright 2007 Americas Premiere Real Estate & Financing School®
Website powered by WebLM.com