BNKG 1358 SECONDARY MARKETS (3-3-0).
A study of the purpose of the secondary mortgage market and its history. Included are secondary market conduits, review of the basic strategies used in the selling of closed real estate mortgages into the secondary market, conventional and governmental segments, mortgage-backed securities and bonds, regulatory requirements, GNMA mortgage-backed securities, preparing and completing loans for sale, and servicing sold loans. Other topics included are institutional and non-institutional lenders, types of mortgages, and alternative mortgage instruments.
The student will state the primary purpose of the secondary market, identify major secondary markets, and define the secondary market significance within the mortgage lending industry. The student will compare and contrast the characteristics of whole loans and participation, certificates, mortgage-backed securities, and mortgage-backed bonds; and explain the significance of regulatory requirements, yield calculation, and sales and servicing agreements in buying and selling mortgage loans. The student will differentiate and identify the seven resources to consult when searching for a loan buyer and seller; justify appropriate resources to situations presented; and summarize accounting concepts of the Federal Home Loan Mortgage Corporation and the Federal National Mortgage Association that directly affect loan servicing activities.
Skills: R
Prerequisites: RELE 1324 or departmental approval
(FNM 2223)
BNKG 1371 LOAN UNDERWRITING (3-3-0). This course is designed to provide the student with an in-depth training of mortgage loan underwriting for all facets of conventional loans as well as some discussion of FHA/VA lending practices. It provides a thorough understanding of Underwriting Guidelines as set forth by the Federal National Mortgage Association, Federal Home Loan Mortgage Corporation and most institutional type lenders. Topics include analyzing and evaluating documentation, analyzing IRS forms and working with private and secondary market investors. Skills: R Prerequisites: RELE 1324 or Departmental Approval (FNM 1123)
BNKG 1372 LOAN QUALITY CONTROL (3-3-0). This course provides the student with the understanding of quality control, its purpose and procedure. The student will learn to distinguish abnormal transactions as well as to resolve the deficiencies noted. Skills: R Prerequisites: RELE 1324 or Departmental Approval (FNM 1141)
BNKG 1373 LOAN CLOSING AND FUNDING (3-3-0). This course provides the student with comprehensive training in mortgage loan closing with an in-depth study of title commitments/policies, engineer's survey, deed restrictions, and various documents (legal and other) used for residential mortgage loans. Skills: R Prerequisites: RELE 1324 or departmental approval. (FNM 1133)
BNKG 1373 LOAN CLOSING (3-3-0). This course provides the student with comprehensive training in mortgage loan closing with an in-depth study of title commitments/policies, engineer's survey, deed restrictions, and various documents (legal and other) used for residential mortgage loans. Skills: R (FNM 1133)
BUSA 1313 INVESTMENTS (3-3-0). An overview of the theory and mechanics of business investment decisions and management of business financial assets using quantitative management techniques. Topics include time value of money, cash flow, capital budgeting, sources of funds, break-even analysis, and investment decisions. The student will define terms related to investments; apply basic concepts and calculations to planning and control of investments; and identify analytical models used for financial decision-making. Skills: B ( )
BUSG 1341 SMALL BUSINESS FINANCING (3-3-0).
A study of the financial structure of a small business. Topics address business finance, including where the funds come from and what they are used for; budgeting including planning and preparing, record keeping, taxation, insurance,
and banking. The student will examine aspects of business finance; estimate funds for starting a new business, purchasing an existing business, and expanding an existing business; plan and prepare a budget; identify types of financial records for record keeping; discuss tax matters pertaining to a small business; and describe the concepts of risk management.
Skills: R
( )
BUSG 1345 BUSINESS FINANCE (3-3-0). Survey of financial dynamics of the business firm. Study of monetary and credit theory, cash inventory, capital management, and consumer and government finance with emphasis on the relationship of time to money. Stresses initial & follow-up considerations in financing a business. The student will identify the processes and structures of monetary policy; relate the sources of capital to business, consumers, and government; define the time value of money and its relationship to credit; and describe the characteristics of financial intermediaries and related markets. Skills: R (FNM 2093)
BUSI 1307 PERSONAL FINANCE (3-3-0). Personal and family accounts, budgets and budgetary control, bank accounts, charge accounts, borrowing, investing, insurance, standards of living, renting and homeownership, and wills & trusts plans. Skills: R (FNM 1093)
RELE 1324 LOAN ORIGINATION AND QUALITY CONTROL (3-3-0). An introduction to the mortgage loan application process. Topics include regulatory compliance and documentation; real estate contracts; the mortgage application process, interview techniques; credit, income and property qualification, quality controls and procedures. The student will complete a mortgage loan application and explain the process to a client; unpreliminary pre-qualifying ratios from a loan application for each loan program; list documentation required for developing a mortgage loan package; identify the lending guidelines for credit, come, and property qualifications; and identify alternative mortgage instruments. Skills: R (FNM 1213)