Lo8ce-mod5-nt
1. Loan Originator 2014 8 Hour CE Module 5
1.1 Module 5: Nontraditional Mortgage Products Cont.
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1.2 HECM Legislative History
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1.3 Purpose of the Program
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1.4 Characteristics of the Mortgage
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1.5 Characteristics of the Mortgage Cont.
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1.6 Eligibility Requirements
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1.7 Eligibility Requirements
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1.8 Principal Limit
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1.9 Expected Average Mortgage Interest rate
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1.10 Maximum Claim Amount
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1.11 HECMS Loan Limits
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1.12 Payment Plans
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1.13 Payment Plans Cont
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1.14 HECMS Changing Payment Plans
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1.15 Interest Rate
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1.16 Requirements for Appraisals
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1.17 Eligible Properties
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1.18 Counseling
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1.19 Counseling
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1.20 Counseling
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1.21 Requirements for Housing Counseling
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1.22 Requirements for Housing Counseling
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1.23 Requirements for Housing Counseling Cont.
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1.24 Sample Housing Couseling Certificate
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1.25 Mortgage Credit Analysis
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1.26 Mortgage Credit Analysis
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1.27 Mortgage Credit Analysis
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1.28 Mortgage Credit Analysis
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1.29 Mortgage Credit Analysis
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1.30 Mortgage Credit Eligibility Requirements
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1.31 Mortgage Credit Eligibility Requirements
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1.32 Mortgage Credit Eligibility Requirements
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1.33 Mortgage Credit Eligibility Requirements
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1.34 Title Evidence
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1.35 Title Evidence
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1.36 Power of Attorney and Conservatorship Guidelines
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1.37 Power of Attorney and Conservatorship Guidelines
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1.38 Closing Documents
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1.39 Counseling Session
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1.40 Required Mortgage Credit Documentation
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1.41 Required Mortgage Credit Documentation
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1.42 Required Mortgage Credit Documentation
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1.43 Required Mortgage Credit Documentation
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1.44 Sample: Notice to the Borrower
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1.45 Changes to the HECM Program Requirements
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1.46 Single Disbursement Lump Sum Payment Option
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1.47 Example 1 Initial Disbursement Limit
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1.48 Example 2 Initial Disbursement Limit
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1.49 Example 3 Initial Disbursement Limit
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1.50 Mortgage Insurance Premiums and Principal Limit Factors
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1.51 Initiall Mortgage Insurance Premium
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1.52 Example 1: General Mortgage Insurance Premium
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1.53 Example 2: General MIP
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1.54 Example 3 General MIP
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1.55 Example 4: General MIP
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1.56 Financial Assessment Property Charge Funding
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1.57 Mortgagee Letter 2013-45
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1.58 Requirements HECM Financial Assessment and Property Charge
Guide
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1.59 Property Analysis
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1.60 Credit History Analysis
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1.61 Credit Report
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1.62 Federal Debt and Judgements
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1.63 Lack of Credit History
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1.64 Bankruptcy Chapter 7 - HECM for Purchase
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1.65 Bankruptcy Chapter 13 - HECM for Purchase
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1.66 Cash Flow and Income Analysis
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1.67 Income
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1.68 Expense Analysis
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1.69 Documentation Standards for Property Charges
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1.70 Residual Income
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1.71 Calculating Residual Income
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1.72 Calculating Residual Income
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1.73 Financial Assessment Property Charge Funding Requirements
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1.74 Financial Assessment Property Charge Funding Requirements Cont.
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1.75 Property Charge Funding Requirements Table
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1.76 Funding Requirements for Property Charges Using A Life Expectancy
Set-Aside
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1.77 HECM for Purchase Program
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1.78 HECM for Purchase Program: Eligible Borrowers
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1.79 HECM for Purchase Program: Eligible Borrowers
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1.80 HECM for Purchase Program: Eligible Borrowers
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1.81 HECM for Purchase Program: Eligible Property Types
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1.82 HECM for Purchase Program: Eligible Property Types
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1.83 HECM for Purchase Program: Ineligible Property Types
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1.84 HECM for Purchase Program: Ineligible Property Types
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1.85 HECM for Purchase Progra: Repair and Property Set-Asides
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1.86 HECM for Purchase Progra: Repair and Property Set-Asides
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1.87 HECM for Purchase Progra: Repair and Property Set-Asides
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1.88 HECM for Purchase Program: Required Investment Examples
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1.89 HECM Purchase; Funding Sources
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1.90 HECM for Purchase Program: Verification of Funding Sources
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1.91 HECM for Purchase Program: GAP Financing
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1.92 HECM for Purchase Program: Gap Financing Example
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1.93 HECM for Purchase Program: Enhanced Counseling
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1.94 HECM for Purchase Program: Right of Rescission
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1.95 HECM for Purchase Program: Right of Rescission
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1.96 To Module 5 Quiz
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