Fundamentals of FHA Origination

Instructor-Led Online Course

Click here to see class schedule.

If you originate FHA loans, or would like to start, it has never been more important to be properly trained on all of the aspects of FHA-insured loans. In fact, HUD may now terminate a lender’s ability to originate FHA loans if those loans do not perform. Whether you have never originated an FHA loan before, or you simply need a refresher on the nuances of these government loans, we can help.

AllRegs Academy’s Fundamentals of FHA Origination will teach you about the history of FHA loans, origination basics, property eligibility, loan limits, mortgage transactions, mortgage insurance premiums, marketing programs and more. Additionally, the course will thoroughly review the borrower, covering borrower eligibility, co-borrowers and qualifying the borrower. Presented by industry experts in four 90-minute sessions, Fundamentals of FHA Origination is exactly the training you and your staff need to successfully originate FHA loans and keep originating them.

Learning Goals and Objectives

Upon completion of the course, students will be able to:

• Describe the differences between FHA, subprime and conventional loans
• Determine if an applicant and property meet FHA eligibility requirements
• Calculate maximum FHA loan limits, qualifying ratios, up-front and monthly MIP
• Appropriately market to and match customers with FHA programs
• Effectively handle:
  • Cash-out refinance transactions
  • Rate and term refinance transactions
  • Streamline refinance with and without an appraisal transaction

Who Should Attend

• Loan originators and mortgage lenders who want to offer FHA programs as one of their loan products
• Processors, underwriters and management would benefit from participating

Course Topics

Session 1

• The Basics
  • History
  • Benefits and challenges
  • Lender classifications
  • Home Ownership Centers
• FHA Programs
  • FHA Section 203(b) Program
  • FHA Section 251 Program
  • FHA 203(k) and FHA 203(k) Streamlined
  • Good Neighbor Next Door
  • Home Equity Conversion Mortgage

Session 2

• Refinancing with FHA
  • Rate and Term
  • Cash Out
  • Streamline
• Legislation and Lending
• The Origination Process
• Recent Changes

Session 3

• Using FHA Technology
  • Limited Denials of Participation (LDP)
  • General Services Administration (GSA)/ Excluded Parties List
  • CAIVRS
  • Neighborhood Watch
  • FHA Connection
  • TOTAL Scorecard
• FHA Loan Amounts
  • Transactions that Affect Calculations
• Mortgage Insurance Premiums
• General Eligibility Information
  • Citizenship
  • Age
  • Military
  • Living Trusts
  • Non-purchasing Spouse
  • Co-borrowers/Co-signers
  • Number of FHA Loans to a Borrower

Session 4

• Analyzing the File
  • Evaluating the Borrower
• Property Eligibility
  • Occupancy
  • Secondary Residence
  • Investment Property
  • Types of Property
  • Property Resale
  • Appraisal Review

See the full Course Agenda (PDF)

Course Delivery

The training sessions utilize WebEx technology in conjunction with audio conferencing. Polling capabilities, live chat, and question & answer sessions allow participants to easily interact with subject matter experts. The course consists of four 90-minute sessions over a 4-week period. Pre-reading and exercises are included and accessed through the AllRegs Academy learning management system. Participants are required to complete assignments prior to each session.

Class Schedule

Choose from the upcoming four-week course sessions:

• Tuesdays, July 10, 17, 24 and 31, 2012, 12:00 p.m. – 1:30 p.m. ET
• Tuesdays, September 4, 11, 18 and 25, 2012, 12:00 p.m. – 1:30 p.m. ET
• Tuesdays, November 6, 13, 20 and 27, 2012, 12:00 p.m. – 1:30 p.m. ET

Tuition & Registration

The course is $365 per person. Tuition includes all course materials. Upon successfully completing the course, students will earn an industry-recognized certificate of completion.

Additional Resources

Printed Literature (PDF)

Cancellation/Refund Policy (PDF)

For more information, call our sales and customer service department at (800) 848-4904 or email sales@allregs.com.