Earn A Certification In HELOC Loans!Mortgage professionals nationwide can benefit greatly from understanding how to originate, process, and underwrite a HELOC (Home Equity Line of Credit).
With this in mind, this comprehensive training program includes several modules to help you earn a "Certified HELOC Specialist" designation.
THE MODULESHELOC 101 - "The Fundamentals"This module covers:- What is Equity
- What is a HELOC / HELOAN
- Advantages of the HELOC
- Disadvantages of the HELOC
- Loan Parameters and Basic Terms
- Managing Risk
- How the Equity Line Works
- Cost of the HELOC
- Restrictions and Penalties
- Selling or Refinancing
- Deciding to Suspend the Credit Line
- What happens in Case of Default
- Resources
- Practice Quiz
HELOC Origination - "A to Z Mastery"This module covers:- Who Can Originate a HELOC
- Understand the HELOC Borrower
- Uses for HELOC Funds
- Advertising
- The Initial Application Package
- Prequalifying the HELOC Borrower
- The Secondary Market
- Niche Loans
- State Usury Laws
- Texas Refinances
- Resources
- Practice Quiz
HELOC Processing - "A to Z Mastery"This module covers:- Processing a HELOC
- Processor Duties & Responsibilities
- Reviewing the Initial Loan Package
- Manual Underwriting
- Credit report analysis
- Income documentation
- Self-employed borrowers
- Rental Income
- Assets
- Appraisal
- Third Party Reports
- Underwriting Submission
- Clearing Conditions for Closing
- Resources
- Practice Quiz
HELOC Underwriting - "A to Z Mastery"This module covers:- Underwriting Defined
- Underwriting the HELOC
- Analyzing Credit
- Capacity
- Capital
- Collateral
- Denying a Loan
- Reviewing Title
- The Path to Closing
- Resources
- Practice Quiz
This online program will take approximately 12 hours to complete. You do not have to complete this program in one sitting - there are bookmarks that allow you to stop and restart as needed.
Access InformationUpon enrollment, you will receive an email from the course provider (CampusMortgage®) with links and passwords to access your course. You will have full access to the course - including the ability to send questions to the instructors - for one year from date of purchase.
