Online Courses Financial Compliance Banking Compliance Loan Processing

Loan Processing

Created by: HSI - Health & Safety Institute Top Author

5.0 1,450 views Prime

Last Updated 11/2022

English

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19 min! Run Time

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Certificate
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What you'll learn

Loan Processing Overview

Taking the Application

Verification

Compliance

Underwriting

The Decision

Skills covered in this course

banking Bank loan processing loan processing HSI-ej4

FAQs

Description

Processing a loan is a complex endeavor, and mortgage lenders follow similar steps across conventional, FHA, VA and subprime loans.

What this course covers:

Taking the loan application
The verification process
Compliance requirements and underwriting
Making the final loan decision

For loan processors and mortgage staff who want an overview of the full loan lifecycle.

System Requirements

See System Requirements in the Coggno Knowledge Base

Author

HSI - Health & Safety Institute

2065 Courses

Making the Workplace Safer and Smarter

HSI (Health & Safety Institute) is a recognized leader in Environmental, Health and Safety (EHS) and workforce development software, training, and compliance solutions.

HSI is your single-source partner for EHS, Compliance, and Professional Development solutions. HSI provides integrated e-learning content, training solutions, and cloud-based software designed to enable your business to improve safety, operations, and employee development. Across all industries, we help safety and technical managers, human resources, first responders, and operational leaders train and develop their workforce, keep workers safe, and meet regulatory and operational compliance requirements. We are a unique partner that offers a suite of cloud-based software solutions including learning management, safety management, chemical SDS management, and more, integrated with our content and training so businesses can not only monitor and manage multiple workflows in one system, but train employees via one partner.

Loan Processing

Loan Processing: Taking the Application

The first step in processing a mortgage is completing the loan application correctly, section by section.

What this course covers:

The most common loan types lenders offer
Each section of the loan application form
The borrower information needed to complete it
How the application feeds the rest of processing

For loan processors and originators learning to take a complete, accurate application.

Loan Processing: Verification

Once the application is complete it goes to the loan processor, who validates the applicant's information before it reaches the underwriter.

What this course covers:

Verifying applicant employment and income
Ordering an appraisal of the property
Obtaining the credit report and a title search
Packaging the loan for the underwriter

For loan processors learning how to verify and package a mortgage application.

Loan Processing: 03. Compliance

Within three business days after completing and verifying the application, the lender needs to provide the applicant with a loan estimate of the anticipated closing costs. This estimate shows the costs associated with the loan settlement, like origination fees, mortgage insurance, title insurance, escrow reserves, and hazard insurance. In 2015, federal changes were made to enhance transparency in the lending industry. In this course, we'll talk about these compliance requirements.

Loan Processing: Underwriting

Underwriting is one of the most critical loan processing steps, where the underwriter decides whether an applicant qualifies.

What this course covers:

What happens behind the scenes during underwriting
How underwriters review the loan package
Requests for added information or documentation
How underwriters reach their final determination

For loan processors and mortgage staff who want to understand underwriting decisions.

Loan Processing: The Decision

After the underwriter reviews the entire loan package, the final step is deciding whether to approve or deny the loan.

What this course covers:

How the decision fits the full loan processing series
What the underwriter reviews before deciding
The four possible outcomes of a loan decision
What approval or denial means for the applicant

For loan processors and mortgage staff who want to understand the final decision step.

Frequently Asked Questions

This course is designed for employees who need to complete Loan Processing training

Yes. This course is designed to meet applicable federal requirements and commonly mandated state standards. Always confirm specific state or industry requirements with your local regulations.

The course takes approximately 19 minutes to complete and can be paused and resumed at any time.

Yes. Learners receive a downloadable certificate upon successful completion, which can be used for compliance records and audits.

Yes. You can assign this course to individuals or groups using Coggno’s LMS, or purchase multiple seats for your team.

Yes. This course can be exported for delivery in most learning management systems (SCORM compatible).

Yes. The course is fully self-paced and available 24/7.

Yes. This course includes a knowledge check to reinforce learning and verify completion.

Learners have lifetime access from the date of purchase.

Yes. A preview is available so you can review the course format and content before purchasing.

Yes. Content is reviewed and updated as regulations and best practices change.

Yes. This course is available for free with an active Prime Subscription.

Yes. Refund requests can be submitted within 30 days of purchase.

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Loan Processing

What you'll learn

Skills covered in this course

Overview

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