Online Mortgage Underwriting Courses

Mortgage underwriters determine if a person is qualified to purchase or refinance a residential or commercial property by analyzing the borrower's financial situation. Online classes are available to help you begin a career as a mortgage underwriter. Continue reading to learn how to get started with training. Schools offering Accounting & Finance degrees can also be found in these popular choices.

What Will I Learn in an Online Mortgage Underwriting Course?

A course in mortgage underwriting gives you a thorough understanding of the underwriting guidelines that are dictated by the Federal Home Loan Mortgage Corporation (Freddie Mac) and the Federal National Mortgage Association (Fannie Mae). You gain familiarity with Federal Housing Administration (FHA) loans which require little money down from borrowers and provide lenders with insurance protection in case of default. Conventional loans, which require larger down payments than FHA loans, are also covered.

You become familiar with IRS forms and other financial documentation provided by the loan applicant. Methods for determining a borrower's creditworthiness, including ratio analysis and credit analysis, are emphasized. Investor relations and home valuation appraisal are also covered.

How Will These Courses Help Me in My Career?

The knowledge you receive through an online mortgage underwriting course can be applied directly to your current or future mortgage underwriting career. You can typically find one of these courses through a college's continuing education program. Some community colleges offer these courses through a certificate or associate degree program in banking. A course, certificate or degree may serve as your stepping stone into a mortgage underwriting career.

Existing underwriters can take refresher courses to learn about the latest changes in industry regulations. Or, they may pursue advanced training to further their careers. Industry organizations like the Bank Administration Institute (BAI) offer several courses for lending professionals that cover the underwriting process and the industry rules and regulations that govern the underwriting process.

What Technology Will I Need to Take Online Courses?

You must have a reliable computer that you can access on a regular basis. Schools usually prefer you to have a DSL or cable Internet connection for quick download speed. You will need a primary e-mail address that you check regularly. Schools list required textbooks, supplemental print materials and hardware requirements on their websites. Also, check the school for word processing and other software requirements. Specific Web browser software - typically the latest versions of Internet Explorer and Firefox - may be suggested. Additional media requirements, such as a DVD player and media player software for streaming video, may also be enforced.

To continue researching, browse degree options below for course curriculum, prerequisites and financial aid information. Or, learn more about the subject by reading the related articles below:

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The schools in the listing below are not free and may include sponsored content but are popular choices among our users. Tuition and costs will vary across programs and locations. Be sure to always request tuition information before starting a program.

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