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Since 1948, the MBA has been offering courses through The School of Mortgage Banking (SOMB) to the real estate finance community. SOMB is a series of three four-day courses, now administered by CampusMBA, the educational division of MBA created in 2000. The courses offer comprehensive instruction in specific aspects of the mortgage banking ...
Many state homebuyer assistance programs and some mortgage lenders require borrowers to take a homebuyer education course — especially if they’re a first-time homebuyer. It’s a good idea to ...
Key takeaways. A mortgage loan originator (MLO) is employed by a lender to help borrowers move through the mortgage application process. Mortgage loan originators do not make the decision about ...
Mortgage loan officers work on loans for both residential and commercial properties. Often, mortgage loan officers must seek out clients, which requires developing relationships with real estate companies and other sources that can refer prospective applicants. [2] Within these three fields, some loan officers specialize in a particular part of ...
Mortgage loan origination is the process of your loan being established. When you formally apply for a mortgage, the lender or loan officer “originates,” or initiates the loan (or, to be more ...
NMLS is the sole system of licensure for mortgage companies for 58 state agencies and the sole system of licensure for Mortgage Loan Originators (MLOs) for 59 state and territorial agencies. Over three-quarters of the states also currently manage additional license types through the System in the money services business, debt and consumer ...
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