This course addresses the fundamental role of real estate agents in the mortgage lending process. With so many changes affecting the ability of potential homebuyers to obtain loans, it is imperative for real estate agents to understand the complexities of today's market. The course discusses how to qualify buyers, as well as the pitfalls to avoid in that process. The qualified mortgage (QM) and ability to repay (ATR) rules are also covered, with an in-depth look at how they affect real estate transactions, real estate agents, and clients.

  • Upon the completion of this course, students should be able to:
  • Understand the agent’s role and ethical duties
  • Explain why knowledge of new mortgage lending regulation is important.
  • Detail the road to the mtg. crash
  • Explain the basic consumer safeguards provided for by the Ability-to-Repay/Qualified Mortgage Rule.
  • State the general requirements of the Ability-to-Repay Rule.
  • Explain the eight factors a creditor must consider when making a determination of repayment ability.
  • Explain, in detail, what constitutes income and assets for consumers
  • List the indicators of a creditor’s failure to make a reasonable and good faith determination as to a consumer’s ability to repay a mortgage loan.
  • State the definition and requirements of a QM.