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					    Chapter 13

Loan Origination,
 Processing, and
     Closing
        Chapter 13
    Learning Objectives

 Understand the steps involved in
  processing a loan application and
  closing a mortgage
 Understand the operation of mortgage
  bankers
       Loan Processing
   Appraisal
    – Market Approach
    – Cost Approach
    – Income Approach
   Applying for Mortgage Insurance
    – FHA
    – VA
    – PMI
          Loan Closing

 Transferring Title
 Signing Documents
    – E.G. Promissory Note
    Mortgage Banking
 Non-depository institutions
 Do not hold loans in portfolio
 Retain servicing rights
 Sources of funds are commercial paper
  and warehousing loans
 Income primarily from origination and
  servicing fees

				
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posted:6/25/2011
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