Explaining Loan Modifications
Re-versioned: August 2014
This course will explain the role loan modifications play within the mortgage lending industry and how they apply to various borrower circumstances. Upon completing this course, students will be able to evaluate the differences and apply the options to various scenarios, identify eligibility requirements and procedures for obtaining a loan modification and identify how to avoid falling victim to loan modification scams along with resources available for reporting. The course will stress the importance of the various loan modification options and the unique characteristics of those options.
Audience: Loan Originators, Underwriters, Processors.
Learning Objectives: After completing this course, students will be able to:
- Identify the role of loan modifications within the mortgage lending industry
- Share insight on how loan modifications apply to various borrower circumstances
- Identify key components mortgage components such as DTI, LTV, and various mortgage terms
- Define Loan Modification
- Identify loan modification options
- Apply loan modification options to homeowners
- Identify fraudulent loan modification scams
The Residential Lending course curriculum was developed by AllRegs®, your source for fast, reliable answers.