RESIDENTIAL MORTGAGE LENDING SCHOOL - RML

The Residential Mortgage Lending School is a 24-hour, comprehensive training course designed to reinforce the basics of conforming residential mortgage loan origination. The School focuses on the documents, processes and regulations involved in residential mortgage lending, and includes a 4-hour module on Mississippi State Law. Specifically, the course covers the following:

è     Mortgage Industry Overview

è     Types of Mortgage Loans

è     Mortgage Origination and Regulations

è     Pre-Qualifying the Borrower

è     Taking the Residential Loan Application

è     Underwriting Standards

è     Packaging a Mortgage Loan

è     Loan Documentation

è     Appraisals and the Valuation Process

è     Analysis of Loan Turn Downs

è     Aspects of Loan Closing

è     Loan Servicing

è     Economics of the Secondary Market

è     Mississippi State Law

Why should I attend?

The RML School teaches broad-based knowledge of the mortgage lending process through practical application and intensive study of the loan cycle. Each job function in loan origination is explored– from application through servicing and the secondary market. As well, you will receive extensive instruction on the Mississippi Mortgage Consumer Protection Law which is a requirement for loan originator pre-licensure education in Mississippi.

Who should attend?

• Individuals needing a 24-hour pre-licensure course to meet the requirements for becoming a Mississippi Licensed Mortgage Loan Originator.
• Individuals who are still new to mortgage loan origination whether in a broker loan originator position or bank loan officer position and would like to learn not only the basics of loan origination but the federal and state laws which govern mortgage loan origination.
• Individuals interested in the Mississippi Residential Mortgage Specialist Designation
  • Mortgage professionals who are members of the Mississippi Association of Mortgage Brokers are encouraged to obtain the designation of Mississippi Residential Mortgage Specialist (MRMS). This designation is offered to members who have completed the RML and successfully passed the written exam with a score of 70 or above. There are additional requirements for the designation as well as yearly requirements to maintain the designation.

For more information, contact the Mississippi Association of Mortgage Brokers at 601-919-2200.