Mortgage Underwriting Classes and Courses Overview

Oct 20, 2021

Essential Information

Courses that cover mortgage underwriting are usually part of certificate programs in real estate or mortgage banking; however, they are also common in associate's degree programs that result in degrees such as an Associate of Science (AS) in Financial Services or an Associate of Applied Science (AAS) in Mortgage Banking. Graduates of these types of programs may find employment opportunities with mortgage companies, banks or real estate companies.

Here are a few common concepts in mortgage underwriting classes:

  • Applications
  • Legal issues/requirements
  • Financial documents
  • Residential/commercial properties
  • Titles and deeds
  • Costs

List of Common Courses

Home Loan Origination Course

This course provides an overview of the residential mortgage process. It examines the application process for government, conventional and conforming/non-conforming home loans. Students learn what documents are needed to start a loan and the federal and state laws that must be followed. They are taught how to determine if a loan request qualifies for an underwriting review.

Mortgage Underwriting Course

Students gain an in-depth understanding of the mortgage underwriting process, from compliance with legal requirements to the completion of loan servicing. This course provides hands-on experience in evaluating and analyzing documentation, financial statements, contract servicing, escrow accounting and taxes assessments. Students learn about private and secondary market investors and how to process loans that are to be sold in the secondary market.

Sub-Prime Lending Course

This course examines the requirements and risks involved in the sub-prime mortgage loan market. Students learn how to grade a loan for the sub-prime market, which is the riskiest category of consumer loans. Students learn how to evaluate documentation and determine the credit risk based on the value of the collateral.

Mortgage Ethics Course

This course focuses on the ethical issues involved in the origination and processing of residential and commercial mortgage loans. The class reviews topics like fair lending laws, fraud detection and best practices for loan officers and mortgage companies. Students learn about the purpose and procedures of quality control.

Federal Housing Administration (FHA) Mortgages Course

This course focuses on Federal Housing Administration (FHA) loans, which are low fixed-or adjustable-rate loans insured by the U.S. Department of Housing and Urban Development. Students learn about the requirements for FHA loans, including eligibility, terminology, guidelines and worksheets used to calculate loans. Also covered are the differences between the three HUD mortgage insurance funds.

Closing a Loan Course

This course examines the mortgage loan closing process. Students learn about deed restrictions, mortgage titles, surveys and other documents involved. They examine closing costs, impound accounts and the final walk through before closing a loan.

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