Mortgage Pre-Licensing Course

Lesson 1 • Types of Mortgage Lenders

Distinguishes between retail banks, credit unions, mortgage bankers, and brokers. Clarifies how each entity originates, funds, or sells loans.

Lesson 2 • The Mortgage Loan Process

Maps the end-to-end origination workflow from application to closing. Provides context for every subsequent chapter by showing where each task fits.

Lesson 3 • Roles and Responsibilities of the MLO

Defines the mortgage loan originator's duties, ethical obligations, and client relationships. Sets professional expectations students must meet throughout training.

Lesson 1 • Fair Lending and Anti-Discrimination Rules

Examines prohibitions on discriminatory lending practices based on protected classes. Connects fair lending principles to underwriting and marketing decisions.

Lesson 2 • Mortgage Originator Licensing Law

Details the federal framework requiring registration and licensing of mortgage loan originators. Explains minimum standards for education, testing, and background checks.

Lesson 3 • Regulatory Oversight and Enforcement

Identifies the agencies that supervise mortgage lenders and originators at the federal level. Explains examination procedures and the consequences of regulatory violations.

Lesson 4 • Consumer Protection Laws in Lending

Introduces truth-in-lending, real estate settlement, and equal credit opportunity requirements. Explains how each law protects borrowers and constrains originator conduct.

Lesson 1 • Conventional Loan Fundamentals

Defines conforming and non-conforming conventional loans and their eligibility criteria. Establishes the baseline product type against which all others are compared.

Lesson 2 • Government-Backed Loan Programs

Covers federally insured and guaranteed loan programs designed for specific borrower segments. Highlights eligibility, insurance premiums, and key program differences.

Lesson 3 • Selecting the Right Loan Product

Applies product knowledge to match loan types with borrower financial profiles. Reinforces ethical product recommendation practices introduced in Chapter 1.

Lesson 4 • Specialty and Niche Loan Products

Introduces reverse mortgages, construction loans, and renovation financing options. Expands product knowledge for serving diverse borrower needs.

Lesson 1 • Monthly Payment Calculations

Demonstrates how to compute principal and interest payments for fixed and adjustable loans. Connects payment math to affordability analysis and qualifying ratios.

Lesson 2 • Time Value of Money Concepts

Introduces present value, future value, and amortization as the mathematical basis for mortgage pricing. Provides the foundation for all subsequent financial calculations.

Lesson 3 • Loan Costs and APR Calculations

Explains how points, fees, and prepaid items affect the annual percentage rate. Prepares students to complete and verify cost disclosures accurately.

Lesson 4 • Qualifying Ratios and Debt Analysis

Covers front-end and back-end debt-to-income ratio calculations used in underwriting. Teaches students to assess borrower capacity before submitting a loan file.

Lesson 1 • Understanding Credit Reports

Explains the structure, contents, and sources of consumer credit reports used in mortgage underwriting. Builds the ability to read and interpret a tri-merge credit report accurately.

Lesson 2 • Credit Scoring Models and Thresholds

Covers how scoring models generate scores and how lenders apply minimum thresholds by product. Connects score ranges to pricing adjustments introduced in Chapter 3.

Lesson 3 • Identifying and Resolving Credit Issues

Teaches how to spot derogatory items, calculate waiting periods, and guide borrowers toward resolution. Reinforces ethical advisory responsibilities established in Chapter 1.

Lesson 4 • Asset Verification and Reserves

Covers acceptable asset types, sourcing requirements, and reserve calculations for down payment and closing. Links asset analysis to product eligibility rules from Chapter 3.

Lesson 1 • Real Property Concepts and Ownership

Defines real vs. personal property, ownership interests, and title types relevant to mortgage lending. Establishes the legal foundation for collateral analysis.

Lesson 2 • Property Eligibility and Collateral Risk

Identifies property types, conditions, and characteristics that affect lender eligibility guidelines. Links collateral risk to loan product requirements from Chapter 3.

Lesson 3 • Reading and Reviewing Appraisal Reports

Teaches how to read standard appraisal report forms and identify deficiencies or red flags. Connects appraisal review to underwriting decisions covered in Chapter 7.

Lesson 1 • Record Retention and File Compliance

Establishes document retention periods, electronic record standards, and audit readiness practices. Reinforces regulatory compliance obligations from Chapter 2.

Lesson 2 • Closing Disclosure Requirements

Details the final cost disclosure form, its comparison to the Loan Estimate, and delivery timing. Prepares students to verify accuracy before closing day.

Lesson 3 • Loan Estimate Preparation and Delivery

Explains the required cost estimate disclosure, its sections, and mandatory delivery timelines. Connects accurate fee disclosure to the APR calculations from Chapter 4.

Lesson 4 • Additional Required Disclosures

Covers supplemental disclosures including servicing transfer notices, ARM program disclosures, and appraisal delivery rules. Ensures students know every required document in the file.

Lesson 1 • Automated Underwriting Systems

Explains how automated systems evaluate loan data and generate approval recommendations. Connects system outputs to the credit, income, and asset analysis from Chapters 5 and 6.

Lesson 2 • Secondary Market and Loan Servicing

Explains how closed loans are sold to investors and how servicing rights are transferred or retained. Completes the full loan lifecycle introduced in Chapter 1.

Lesson 3 • Title, Escrow, and Closing Procedures

Explains title search, title insurance, escrow account setup, and the closing table process. Prepares students to coordinate with settlement agents effectively.

Lesson 4 • Underwriting Conditions and Suspense

Covers how underwriters issue conditions, how originators satisfy them, and how suspended files are resolved. Builds the file management skills needed for timely closings.