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Mortgage Broker Classes and Courses

Training requirements for mortgage brokers vary by state, but courses typically include instruction in the ethical, financial, and practical knowledge needed to pass certification exams or to work as a mortgage broker. Read on to get the essential information a potential mortgage broker needs to know about coursework in this field.

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Essential Information

Mortgage broker classes may be offered through a training seminar or professional development program. Education requirements and license regulations for mortgage brokers vary by state, and courses are often designed to prepare students for certification exams, where applicable.

A mortgage broker sells loans to individuals or companies for the purchase of a residence, commercial property, or business, so some financial training, sales skills, and familiarity with the types of mortgages available is essential for people in this field. Students will also be introduced to the ethical concerns of this industry and will gain an understanding of both federal and state mortgage regulations.

List of Mortgage Broker Classes

Below is a sample of some courses that may be found in a mortgage broker education series or may be helpful to take before sitting for a certification exam.

Residential Mortgage Lending Course

This course focuses on single-family home mortgages. Students learn about the process of residential lending from qualifying for loans to loan closing processes. This class covers the various residential loans available, such as FHA, 30-year, 15-year and ARM loans. Topics may also include foreclosure processes, mortgage insurance premiums and second mortgage structures.

Commercial Mortgage Lending Course

A commercial mortgage lending class focuses on loans for businesses or commercial buildings. Students compare residential and commercial mortgage lending processes. Topics also include types of commercial loans and properties, guidelines for commercial lending and underwriting. This course can be beneficial for someone interested in office, retail, mixed-use or even multi-family property loans.

Reverse Mortgage Course

A reverse mortgage is typically available to senior citizens, giving them the ability to take money out from the equity they have built up in their existing homes. A reverse mortgage course shows students how working up a reverse mortgage is different from a traditional mortgage. Students become familiar with the products available to use and also learn about current laws and regulations regarding reverse mortgages; these regulations may be at the federal level or depend on the state in which the broker practices.

Mortgage Business Ethics Course

In this ethics class, students study current mortgage broker laws and regulations. Ethical situations and case studies are also covered, providing students with the tools to handle individual situations and pressures. Topics include decision-making processes, industry trends, values and teamwork. Students may work on case studies or in small groups to analyze ethical dilemmas and real-world situations.

Mortgage Broker Education

Since states have different regulations when it comes to mortgage broker education and licensure, educational requirements vary across the country. Some mortgage brokers may not need specific education, while others may need a set amount of hours in training in addition to certification. The National Association of Mortgage Brokers, or NAMB, offers mortgage training, education and certification.

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