Mortgage Documentation & Compliance Management Micro-Credential

Length: 5 Individual Sessions Why should I attend this course? Upon successful completion of this micro-credential, the learner will be able to demonstrate specific competencies related to reviewing and fulfilling mortgage documentation during the mortgage application process and ensuring compliance with established credit policies and service standards. This course will enable the participant to effectively represent the lender and work with the mortgage representative of the borrower. What will I learn? Day 1: Overview of the Mortgage Industry We will explore the different players in the mortgage industry, types of lenders, various mortgage products, all while focusing on the mortgage officer's role within the mortgage life cycle. We will also focus on reviewing income documentation. Day 2: Purchases We will take a deep dive into how Canadians purchase a home. You will learn about the purchase journey and important concepts like the condition of finance and all of the documentation required for a complete and compliant file. Day 3: Refinances We will take an in-depth look into how Canadians refinance a home. You will learn about the refinance journey and important concepts like mortgage registration and the documentation required for a complete and compliant file. We will also be reviewing the miscellaneous documentation that could be warranted for both purchases and refinances. Day 4: Welcome to Underwriting We will focus on the stress test and how to manually calculate if a borrower can qualify for a mortgage using their income. Day 5: Case Studies We will test your knowledge by reviewing a purchase and refinance file to see if they are compliant. You will complete two case studies that will be evaluated by a panel of industry experts. They will be verifying various mortgage documents to see if they meet minimum requirements which will be evaluated. Timing and Certification This 18-hour program will be delivered online in four 3.5-hour segments and one 4-hour segment including pre-work involving videos and podcasts. As part of this course, you will obtain an evidence-based micro-credential. To be awarded the micro-credential by Humber learners will be required to: 1. Capture 80% of the discrepancies in the mortgage file provided 2. Determine the income used for the application 3. Determine if there are any risks associated with the property 4. Determine the property tax amount 5. Determine the insurable amount and decide if this is adequate for this file 6. Determine the mortgage amount that will need to be transferred 7. Address any anti-money laundering AML concerns Feedback will be provided throughout the course from the facilitators. Who should take this course? * All bank employees** * Mortgage professionals * Finance graduates/students * Underwriters in different fields such as car loans and credit cards * Anyone looking to advance their career in the mortgage field **Including, but not limited to bank tellers, call centre representatives, customer service personnel, front line operations staff, financial service representatives.