FHA Servicing Basics
The class begins with an explanation and calculations for FHA mortgage insurance and the lenders responsibility to remit in a timely fashion. When FHA agrees to endorse a loan, an electronic Mortgage Insurance Certificate (MIC) is generated, which evidences the mortgage has been insured. This class also introduces students to the various FHA technologies and transactions. Next, we turn to HUD policies and procedures specific to FHA loan servicing. Lastly, we discuss delinquency and default counseling for borrowers who are late to enhance the likelihood of success.
What will I learn?
By the end of this course, you should be able to:
- Discuss the basics of FHA Mortgage Insurance
- Identify topics addressed in the FHA Connection
- List at least five servicer responsibilities
- Explain options for homeownership counseling
Course Length
40 mins
How it works
Each self-paced, self-study course examines a particular topic, allowing students to hone in on a focused set of learning concepts. Each course is designed with learning objectives, comprehensive course materials, learning reinforcement activities that appeal to various learning styles, real world examples, and, where appropriate, video and/or audio recordings of industry experts.
The final exam is completed online with instant grading, and you can download your industry-recognized certificate of completion after you successfully pass the course. While course completion time varies per student, it will take approximately one hour to complete most courses.
Students have 12 months from the registration date to complete the course. Upon successful completion of the course, students can download their industry-recognized certificate of completion and transcript.