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Successful completion of any of the below approved courses qualify for the MREP Designation:
Approved Classroom Courses
1. Mortgage Lending & Financing (2 Day Course) offered by Hogan School of Real Estate (Arizona, California and Hawaii)
No longer does the mortgage process have to be confusing and complicated. This Mortgage Lending Course will take you through the entire process from beginning to end and provide you valuable insight into the lender's world. Gain an understanding of the Primary and Secondary Markets, the Loan Application Process, all of the various types of loans and the Closing and Funding. Also learn about Mandatory Disclosure Documents, FICO Scores, Underwriting Guidelines, Non-Conforming Loans and much more.
2. Fundamentals Of Loan Processing & Underwriting (15 Hours) or the Loan Officer Licensing/Mortgage Broker MCE (15 Hours) offered by Champions School of Real Estate (Texas)
The topics in both theses two courses include: Real Estate Lending Terms, Qualifying the Buyer and Credit Scoring, Federal Laws and Regulations, (ECOA, RESPA, Flood Insurance Act, Regulation Z and HMDA), Loan Programs including Federal Underwriting Programs (FHA/VA), Private Mortgage Insurance, Processing the File (Employment, Income, Down Payment, Closing Costs and Loan Prospector), Appraisal Review including Site, Improvements, Valuation Analysis and Sales Comparison Analysis and Underwriting and Closing.
3. Residential Mortgage Lending Principles and Practices (2day course) offered by Realtors® Real Estate School (Illinois)
This course is designed to provide the residential mortgage loan officer with the necessary skill set to engage in mortgage loan origination and take the process from application to closing. Topics covered include Borrower Qualification, Credit Report Analysis, Mortgage Loan Programs, Forms and Required disclosures, Function of Appraisal, Insurance and Inspection, Processing Function, Underwriting Function and Government Regulations.
4. Mortgage Broker Courses – (56 Hours) Offered by Gold Coast Real Estate School (Florida). Student must complete 3 courses:
(For online courses please visit www.RealtyUOnline.com)
3. Finance & Settlement Procedures offered by Thomson-CompuTaught.
This course covers various security instruments, primary and secondary mortgage markets, source of funds and the process of qualifying for and obtaining real estate loans. It also deals with the procedures involved in settlement and practical exercises in real estate math.
4. Successful completion of all three below courses also meets the requirements to qualify for the MREP designation.
4a) Maximize Your Buyers Borrowing Power offered by Thomson-CompuTaught.
This course covers most of the important topics related to finance and a buyer's ability to obtain a real estate loan
4b) Basic RE Finance offered by Thomson-CompuTaught.
This course covers the basic principles of real estate finance. Topics include financing instruments, promissory notes, mortgages, assumptions, priority of loans, foreclosures, trust deeds, types of loans, sources of funds, loan practices and closing costs.
4c) Methods Of Residential Finance offered by Thomson-CompuTaught.
All of the various forms of residential real estate financing; including conventional, FHA, VA Loans, loan assumptions, purchase money mortgages, alternative financing are explained in this course. Also covers legislation relating to financing.
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