U.S. Residential Real Estate, Property & Mor…

The United States residential real estate market is enormous comprising a value of over $8.5 trillion in property and projected to grow at approximately 9% per year through 2027. At any given time, over 1 million housing units are for sale with an average sale price of over $300,000, or total transaction volume annually well in excess of $300 billion. In a market as large as this, understanding the details of how the U.S. residential real estate market works is essential for any professional working in this space

This course covers what you will need to know to function effectively in the real estate business, whether as a banker, financier, underwriter, property manager, investor, operations professional or other person working in the field. This course was written by Paul Siegel and delivered by Russ Faulkner in collaboration to ensure you have everything you need to know to be knowledgeable about residential real estate and mortgages in the United States. Paul was active as an investment banker and was involved in the financing of over $1 billion of real property in the U.S.; and, Russ, worked for one of the largest global banks delivering top-notch training to employees and consultants worldwide.

This program is one of the most highly rated real estate and mortgage courses available anywhere. It has been used by the world’s largest financial institutions and technology companies to train their staff on what the U.S. residential real estate and mortgage markets are all about.

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Building from the ground up (pun intended), we cover the most essential elements of the residential real estate and mortgage business (e.g., the important players, segments of the business key terminology that you need to know) and then jump right into unpackaging the consumer buying cycle and examine the lifecycle of a residential mortgage from origination and underwriting through to syndication and distribution. We spend time examining what goes into originating, servicing, and valuing a mortgage by examining the metrics that make up the loan process. We also examine the tools that help a financial institution or mortgage underwriting business make a sound creditworthiness decision, by exploring the credit report and the real estate appraisal. Finally, we demystify the mortgage securitization process so that you understand how a simple real estate loan is bundled with others to become security which the underwriting organization can then package and resell into the market to recycle its capital.

This course contains nearly 30 modules in 3 sections and is structured so you have a clear awareness of how residential mortgages work in the real world:

· U.S. Residential Mortgage Business and Process Fundamentals

· U.S. Residential Mortgage Analysis: Bringing It All Together

· Loan Management, Servicing and Securitization

this course's contents consist of videos for each section along with accompanying pdfs of each slide that outlines the key elements to be covered, and then followed in each module that consists of a narrated presentation.

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This course is part of a much larger curriculum available from the instructors entitled: U.S. Residential Real Estate Immersion Program. That certification program is divided into Core, Intermediate and Advance components which together comprise approximate 90 hours of on-demand, live and exercise/quiz/test content, incorporating:

Module 1 - The Real Estate Business

Module 2 - Real Estate Laws, Qualifications, Requirements and Measurements

Module 3 - Real Property Rights

Module 4 - Title, Deeds, and Ownership Restrictions

Module 5 - Real Estate Contracts

Module 6 - Residential Mortgages and Property Financings

Module 7 - Types of Mortgages and Sources of Finance

Module 8 - Real Estate Deal Closings and Financial Calculations

Module 9 - Real Estate Market Analysis and Property Appraisals

Module 10 - Planning, Zoning, Environmental Hazards, and Taxes

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More about this course and Starweaver

This course is led by a seasoned real estate investment banking industry practitioner and executive with many years of hands-on, in-the-trenches real estate analysis, underwriting, packaging and marketing work. It has been designed, produced and delivered by Starweaver. Starweaver is one of the most highly regarded, well-established training providers in the world, providing training courses to many of the leading financial institutions and technology companies, including:

Ahli United Bank; Mashreqbank; American Express; ANZ Bank; ATT; Banco Votorantim; Bank of America; Bank of America Global Markets; Bank of America Private Bank; Barclay Bank; BMO Financial Group; BMO Financial Services; BNP Paribas; Boeing; Cigna; Citibank; Cognizant; Commerzbank; Credit Lyonnais/Calyon; Electrosonic; Farm Credit Administration; Fifth Third Bank; GENPACT; GEP Software; GLG Group; Hartford; HCL; HCL; Helaba; HSBC; HSBC Corporate Bank; HSBC India; HSBC Private Bank; Legal & General; National Australia Bank; Nomura Securities; PNC Financial Services Group; Quintiles; RAK Bank; Regions Bank; Royal Bank of Canada; Royal Bank of Scotland; Santander Corporate Bank; Tata Consultancy Services; Union Bank; ValueMomentum; Wells Fargo; Wells Fargo India Solutions; Westpac Corporate Bank; Wipro; and, many others.

Starweaver has and continues to deliver 1000s of live in-person and online education for organizational training programs for new hires and induction, as well as mid-career and senior-level immersion and leadership courses.

If you are looking for live streaming education or want to understand what courses might be best for you in technology or business, just google:

starweaver journey builder starweaver[dot]com

Happy learning.

What's inside

Learning objectives

Describe the real estate mortgage market, including how and why people finance properties with mortgages.
Explain the size and scope of the u.s. residential mortgage market.
List and discuss roles of the key players in the mortgage industry and the functions and roles they have.
Apply current and historic mortgage regulations to financial and credit underwriting of mortgage loans
Identify key mortgage types and describe the audience and markets for each.
Delineate the various residential property types, and the risks each has to the mortgage lender.
Articulate the financial and business terms and conditions related to mortgages, as well as the full meaning and importance of each.
Explain the full consumer mortgage underwriting lifecycle from the consumer, originator, underwriter and financier povs, and each step along the way.
Conduct a borrower income analysis, read and understand credit history and reports, and evaluate the credit worthiness of a borrower.
Evaluate appraisals and asset valuations, and the appraisals and the appraisal process.

Explain titling and insurance, titling requirements and related title issues.
Use (and not be afraid of) the math, rates and calculations behind mortgage pricing.
Discuss mortgage metrics and be able to provide an overview of loan approvals and rejections.
Identify financial distress in mortgages, including early warning signs, foreclosure alternatives, and loss mitigation strategies.
You'll learn about loan servicing and servicing regulations.
Define securitization, learn why financial institutions securitize mortgages, and advantages and disadvantages of securitization to the issuer and investor.
Describe the mortgage securitization process, from origination, to packaging and to servicing a securitized portfolio of mortgages.
Understand what a mortgage backed security (mbs) is, how rating agencies are involved in evaluating mbs securitizations, and appreciate the complexities.
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Describe the real estate mortgage market, including how and why people finance properties with mortgages.
Explain the size and scope of the u.s. residential mortgage market.
List and discuss roles of the key players in the mortgage industry and the functions and roles they have.
Apply current and historic mortgage regulations to financial and credit underwriting of mortgage loans
Identify key mortgage types and describe the audience and markets for each.
Delineate the various residential property types, and the risks each has to the mortgage lender.
Articulate the financial and business terms and conditions related to mortgages, as well as the full meaning and importance of each.
Explain the full consumer mortgage underwriting lifecycle from the consumer, originator, underwriter and financier povs, and each step along the way.
Conduct a borrower income analysis, read and understand credit history and reports, and evaluate the credit worthiness of a borrower.
Evaluate appraisals and asset valuations, and the appraisals and the appraisal process.
Explain titling and insurance, titling requirements and related title issues.
Use (and not be afraid of) the math, rates and calculations behind mortgage pricing.
Discuss mortgage metrics and be able to provide an overview of loan approvals and rejections.
Identify financial distress in mortgages, including early warning signs, foreclosure alternatives, and loss mitigation strategies.
You'll learn about loan servicing and servicing regulations.
Define securitization, learn why financial institutions securitize mortgages, and advantages and disadvantages of securitization to the issuer and investor.
Describe the mortgage securitization process, from origination, to packaging and to servicing a securitized portfolio of mortgages.
Understand what a mortgage backed security (mbs) is, how rating agencies are involved in evaluating mbs securitizations, and appreciate the complexities.
Show more
Show less

Syllabus

U.S. Residential Mortgage Business and Process Fundamentals

Just a brief "hello" and explanation for you.

Your instructor, Russ Faulkner, provides an overview of this course and what you will learn.

Instructor Russ Faulkner introduces the U.S. Residential Mortgage Business and discusses key elements of the first section within this course.

This module covers the various types of properties (commercial; residential, including single family, multi-family, condominium...), and the factors determining "value."

This module on mortgage loan types covers the full range of “permanent” funding types (traditional real estate mortgages), home equity or refinancings, and construction financings. We discuss the common funding scenarios, the profile of the owners, and the typical "loan products" they will use.

While innumerable terms and conditions can be created and customized in a mortgage to suit the needs to the borrower and lender, here we cover what you "typically" see, including promise to pay (principal, interest, penalties, etc., along with note, date, names, etc.), escrow, order of application of payments, hazard insurance, mortgage insurance, covenants, defaults, and much more.

The math and calculations that go into mortgage financing is core to everything you need to know. Here we discuss everything from the terminologies, to understanding amortization schedules (illustrating how amortization schedules allocate principal vs. interest), and to the key ratios involved.

This module illustrates the market size and dynamics. (Full module update will be available by January 2025)

Who is who in the mortgage "life cycle," from borrowing, underwriting and origination, all the way through packaging, securitization and distribution. This module gives you a picture of what is going on and who does what, including the borrowers, sales and marketers, lenders, appraisers, credit agencies, government, agencies, private insurers, title companies, investors, servicers, among others.

To understand the mortgage business, it is key to appreciate this from the financier's perspective, how they really make money in in originating mortgages, servicing and securitization. This is discussed here.

We cover what the mortgage life cycle from a consumer's point of view, from the buying cycles to how the real estate process feeds into the mortgage loan process.

The lender's point of view looks at key decision points and underwriting at a high level.

Regulatory oversight has changed and is constantly evolving. We cover the key issues today. (Full module update will be available by January 2025)

The ups and downs of personal financial conditions, as well as the economy overall, means that financial distress is a never ending challenge in the mortgage business. This module covers financial distress and foreclosure avoidance Issues surrounding financial distress covered here are out of date. (Full module update will be available by January 2025)

Instructor Russ Faulkner introduces the next section and breaks down the key items to be discussed.

This module covers the components of consumer mortgage lending; the factors impacting residential mortgage credit approval process; and, the detailed documents for financial analysis required from borrower, regarding property and for government / regulatory approvals.

The income analysis of a borrower module explains and share income verification requirements, the Identify the initial steps of the loan packet, income verification, the documentation requirements, and demonstrated how income links to credit history.

We help you understand and identify key elements of credit reports and reporting bureaus, how to read a credit report, and what are the different credit bureaus and what they report

More discussion of credit report analysis, including examining what the most common reports look like, and where you can find specific relevant information in each.

Here we explain the main metrics that go into a loan approval, the most important mortgage metrics and and overview of loan approvals and rejections.

In order to be able to make an intelligent decision about a mortgage, you need to understand how appraisals are done, and how assets are valued. We cover that here.

We go through a detailed examination of an appraisal report so you know what it looks like, and what to expect when you review these documents.

What is a "title," and how does it relate to the property? And, why does title insurance matter? You learn that here.

This is an introduction to residential loan management and identifies what topics will be discussed in this section.

The fundamentals of loan servicing are introduced and explained here.

While the concept of "securitization" can be confusing, here we break it down so anyone can understand what is happening, and why. (Full module update will be available by August 2024)

Securitization involves and mortgage, the "issuer" of the mortgage (generally a bank making the loan to the homeowner/buyer), and the investors that invest in the loan. The roles and responsibilities of each party are clarified and simplified here.

Once a mortgage is placed into a "mortgage pool," it starts through the "life cycle of a mortgage-backed security." We discuss that here.

Risks exist in all financial transactions. Here we discuss how these risks are reduced or "mitigated" through the use of credit rating agencies who clarify for investors the risk of a given pool of mortgage-backed securities.

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Read about what's good

what should give you pause

and possible dealbreakers

Provides a comprehensive overview of the U.S. residential mortgage market, which is essential for professionals working in finance, banking, and real estate

Explores the consumer mortgage underwriting lifecycle from multiple perspectives, including consumer, originator, underwriter, and financier, offering a holistic understanding

Examines the securitization process, which demystifies how real estate loans are bundled and resold, providing valuable insights into capital recycling

Includes modules on financial distress and foreclosure avoidance, but these modules will be updated in January 2025, so the information may be outdated

Covers market size and dynamics, but the full module update will be available by January 2025, so the information may be outdated

Discusses securitization, but the full module update will be available by August 2024, so the information may be outdated

Reviews summary

Practical overview of us mortgage business

According to learners, this course offers a practical and comprehensive overview of the U.S. residential real estate and mortgage business. Many students found it to be a great foundation, especially for those new to the industry or needing a refresher. The course covers the entire mortgage lifecycle, from origination through to securitization, with particular praise for the clear explanations of key terms and processes. Reviewers frequently highlighted the value of the knowledgeable instructors. While the course is largely well-received, some students noted that certain sections, particularly those on regulations and market dynamics, felt potentially outdated, though the syllabus indicates planned updates.

Provides clear and easy-to-follow explanations.

"The explanations are clear and easy to follow, even for complex topics."

"Everything was explained in a way that was simple to understand."

"I appreciate how the course broke down complex topics into understandable parts."

Instructors demonstrate real-world industry expertise.

"Instructors are knowledgeable and clearly have real-world experience."

"The instructors' background adds significant credibility to the material."

"You can tell the instructors know the business inside and out."

Excellent starting point for professionals or beginners.

"Great for professionals needing a solid foundation or refresher on the US residential real estate market."

"Provided me with a good basis for understanding the complex mortgage process."

"A good starting point to learn the basics of the industry."

Clearly explains the process from origination to securitization.

"Helped me understand securitization much better than other resources."

"Provides a clear explanation of the mortgage lifecycle and key players involved."

"Describes the steps clearly from the consumer buying cycle through securitization."

Offers a solid, practical overview of the industry.

"This course provides an excellent overview of the US residential real estate and mortgage business. Very practical..."

"Gives a good grasp of the fundamentals of the business and how it works."

"Very practical course covering key terms and concepts in real world applications."

Certain sections may not reflect the very latest conditions.

"Some modules, particularly on regulations and market size, felt a bit outdated."

"The regulations section needs a review to ensure it reflects the absolute latest changes."

"Looking forward to the promised updates mentioned in the syllabus."

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in U.S. Residential Real Estate, Property & Mortgage Business with these activities:

Review Basic Financial Concepts

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Reinforce your understanding of fundamental financial concepts like interest rates, loan terms, and credit scores to better grasp mortgage-related topics.

Browse courses on Financial Literacy

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Read articles or watch videos explaining key financial terms.
Take a practice quiz on basic financial principles.
Review your personal budget and credit report.

Read 'The Book on Rental Property Investing'

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Gain insights into the investor's perspective on residential real estate and how mortgages play a role in their investment strategies.

View The Multifamily Millionaire, Volume I: Achieve... on Amazon

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Read the book, taking notes on key concepts and strategies.
Identify how the concepts relate to mortgage financing.
Summarize the key takeaways and their relevance to the course.

Create a Mortgage Glossary

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Solidify your understanding of mortgage terminology by creating a comprehensive glossary of terms used in the course.

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Compile a list of key mortgage terms from the course materials.
Define each term in your own words, providing examples where applicable.
Organize the glossary alphabetically and share it with classmates.

Four other activities

Expand to see all activities and additional details

Show all seven activities

Build a Mortgage Amortization Schedule

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Deepen your understanding of mortgage calculations by creating an amortization schedule using spreadsheet software.

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Choose a mortgage amount, interest rate, and loan term.
Set up a spreadsheet with columns for payment number, beginning balance, payment amount, interest paid, principal paid, and ending balance.
Use formulas to calculate the interest and principal portions of each payment and update the balance accordingly.
Verify that the ending balance reaches zero at the end of the loan term.

Analyze a Real Mortgage Scenario

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Apply your knowledge by analyzing a real-world mortgage scenario, evaluating the borrower's creditworthiness and the risks involved.

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Obtain a sample mortgage application and credit report (with sensitive data redacted).
Analyze the borrower's income, credit history, and assets.
Assess the risks associated with the loan and make a recommendation on whether to approve or deny it.
Write a report summarizing your analysis and recommendation.

Read 'Real Estate Finance & Investments'

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Expand your knowledge of real estate finance principles and gain a deeper understanding of the mortgage market.

View Real Estate Finance & Investments ISE on Amazon

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Read selected chapters focusing on mortgage markets and securitization.
Take notes on key concepts and formulas.
Apply the concepts to real-world examples.

Attend a Real Estate Investment Club Meeting

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Connect with real estate professionals and investors to learn about current market trends and mortgage financing strategies.

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Find a local real estate investment club or association.
Attend a meeting and introduce yourself to other members.
Ask questions about their experiences with mortgage financing.
Share your learnings from the course.

Career center

Learners who complete U.S. Residential Real Estate, Property & Mortgage Business will develop knowledge and skills that may be useful to these careers:

Mortgage Underwriter

A mortgage underwriter evaluates the risk associated with lending money for a home purchase. The role involves analyzing a borrower's financial history, creditworthiness, and the value of the property to determine if the loan should be approved. This course helps build a foundation in understanding the U.S. residential mortgage market, including the roles of key players, mortgage types, and the underwriting lifecycle. Specifically, the modules on borrower income analysis, credit history evaluation, and appraisal assessment provide practical skills for a mortgage underwriter. The course's emphasis on regulatory oversight and financial distress in mortgages enhances a mortgage underwriter's ability to make informed decisions.

See salaries and explore the career path for Mortgage Underwriter

Real Estate Analyst

A real estate analyst researches and analyzes real estate markets and properties to provide insights and recommendations for investment decisions. The role requires strong analytical skills, knowledge of financial modeling, and an understanding of market trends. This course helps a real estate analyst since it provides a solid foundation in the U.S. residential real estate market. The material on market size and dynamics, property valuation, and mortgage financing are particularly relevant. The course's insights into the financier's perspective and the securitization process provide a broader understanding of the financial landscape of real estate.

See salaries and explore the career path for Real Estate Analyst

Credit Risk Manager

A credit risk manager assesses and manages the risk associated with lending money, including mortgages. This role requires a strong understanding of credit analysis, underwriting, and risk mitigation strategies. This course will help a credit risk manager since it provides a detailed overview of the U.S. residential mortgage market. The modules on borrower income analysis, credit history evaluation, and appraisal assessment are particularly relevant. The course's coverage of financial distress and foreclosure avoidance equips the credit risk manager with tools for managing risk in mortgage portfolios. This person typically has a master's degree.

See salaries and explore the career path for Credit Risk Manager

Real Estate Appraiser

A real estate appraiser estimates the value of properties. This role requires a deep understanding of market trends, property characteristics, and valuation methods. This course helps build a foundation in the field, particularly the modules that cover property types and value determination. The content on appraisals and asset valuations is especially relevant. The course's comprehensive overview of the U.S. residential real estate market provides critical context for a real estate appraiser, while the material on mortgage financing connects property values to the lending process. A future real estate appraiser may find the discussion of market size and dynamics to be useful.

See salaries and explore the career path for Real Estate Appraiser

Mortgage Broker

A mortgage broker acts as an intermediary between borrowers and lenders, helping clients find the best mortgage options for their needs. The role requires knowledge of various mortgage products, underwriting guidelines, and the ability to negotiate favorable terms. This course helps build a foundation for a mortgage broker by providing comprehensive knowledge of the U.S. residential mortgage market. The modules on mortgage types, terms, and the consumer buying cycle are particularly relevant. The course's coverage of the underwriting lifecycle, from the consumer's perspective, helps a mortgage broker better assist clients. The insights into regulatory oversight and financial distress help in navigating the complexities of the mortgage market.

See salaries and explore the career path for Mortgage Broker

Real Estate Investor

A real estate investor purchases properties with the goal of generating income or capital appreciation. The role requires a keen understanding of market dynamics, property valuation, and financing options. This course helps in developing a strong understanding of the U.S. residential real estate market, covering key elements such as property types, mortgage financing, and market analysis. The modules on mortgage loan types, terms and conditions, and calculations are valuable for evaluating investment opportunities. A real estate investor will also find the course's insights into the financier's perspective and the securitization process insightful for understanding the broader financial landscape.

See salaries and explore the career path for Real Estate Investor

Loan Officer

A loan officer works directly with clients to help them secure financing for a home. The loan officer guides applicants through the mortgage process, explains loan options, and gathers necessary documentation. This course is likely useful to a loan officer since it provides a solid understanding of the U.S. residential mortgage business, including mortgage types, terms, and the consumer buying cycle. The course's coverage of the underwriting lifecycle, from the consumer's perspective, helps a loan officer better assist clients. The modules on borrower income analysis and credit history evaluation equip the loan officer in assessing applicant eligibility. A loan officer will also find the insights into regulatory oversight and financial distress useful in navigating the complexities of the mortgage market.

See salaries and explore the career path for Loan Officer

Portfolio Manager

A portfolio manager oversees a portfolio of investments, including mortgage-backed securities. The role requires a deep understanding of financial markets, risk management, and investment strategies. This course may be useful to a portfolio manager by providing an in-depth understanding of the U.S. residential mortgage market and the securitization process. The modules on mortgage-backed securities, rating agencies, and risk mitigation are particularly relevant. The course's insights into the mortgage lifecycle, from origination to securitization, provide a valuable context for managing mortgage-related investments. This role typically requires an advanced degree.

See salaries and explore the career path for Portfolio Manager

Mortgage Servicer

A mortgage servicer manages the day-to-day administration of mortgage loans, including collecting payments, managing escrow accounts, and handling loan modifications or foreclosures. This course may be useful to a mortgage servicer by providing in-depth knowledge of the U.S. residential mortgage market and the lifecycle of a mortgage. The modules on loan management, servicing regulations, and financial distress are particularly relevant. The course's coverage of securitization helps a mortgage servicer understand how loans are packaged and sold into the market. Because a mortgage servicer deals with mortgages, this course should be quite helpful.

See salaries and explore the career path for Mortgage Servicer

Financial Analyst

A financial analyst evaluates financial data to provide insights and recommendations for investment decisions. The financial analyst may work in various industries, including real estate. This course helps build a foundation for a financial analyst specializing in real estate, providing valuable insight into the U.S. residential mortgage market. The course's emphasis on mortgage types, underwriting, and securitization processes offers a relevant understanding of the financial aspects of real estate transactions. The course's discussion of market size and dynamics, along with the metrics involved in mortgage pricing, may enhance the financial analyst's ability to assess investment opportunities in the residential real estate sector.

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Compliance Officer

A compliance officer ensures that a financial institution adheres to relevant laws and regulations. This role requires a thorough understanding of the regulatory landscape and the ability to interpret and implement compliance policies. This course may be useful to a compliance officer by providing an overview of the U.S. residential mortgage market and the regulatory environment. The course's coverage of current and historic mortgage regulations is particularly relevant. The course's insights into the mortgage lifecycle and the roles of various players provide a broader context for compliance efforts.

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Real Estate Consultant

A real estate consultant provides expert advice and guidance to clients on real estate matters, such as investment strategies, market analysis, and property valuation. This role requires a deep understanding of the real estate market and strong analytical and communication skills. This course may be useful for a real estate consultant since it provides a foundation in the U.S. residential real estate market and the mortgage industry. The course's content on market size and dynamics, property valuation, and mortgage financing helps in providing informed advice. The insights into the financier's perspective and the securitization process provide a broader understanding of the financial aspects of real estate.

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Property Manager

A property manager oversees the operations of residential properties, including tenant relations, maintenance, and financial management. This course may be useful to a property manager by providing a broader understanding of the real estate market and the mortgage industry. While the course focuses on mortgages, the foundational knowledge of property types, valuation, and the consumer buying cycle can inform a property manager's decisions. Understanding the financial aspects of real estate, as covered in the course, also helps a property manager in budgeting and financial reporting. While not directly focused on property management, this course offers a valuable perspective on the larger real estate ecosystem.

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Financial Planner

A financial planner helps individuals and families manage their finances, including investments, retirement planning, and homeownership. This course might be useful to a financial planner by providing a deeper understanding of the mortgage market and the home buying process, which represents a major financial decision for most people. The knowledge of mortgage types, terms, and the underwriting process helps a financial planner better advise clients on their home financing options. The course's coverage of financial distress and foreclosure avoidance helps a financial planner to counsel clients facing financial challenges.

See salaries and explore the career path for Financial Planner

Commercial Real Estate Agent

A commercial real estate agent helps clients buy, sell, or lease commercial properties. This role requires a strong understanding of the commercial real estate market, including property types, valuation methods, and investment strategies. This course might be helpful to a commercial real estate agent by providing foundational knowledge of real estate principles and financing, though the focus is on residential properties. Understanding the basics of property valuation, market analysis, and mortgage financing, as covered in the course, provides a broader context for working in the real estate industry. However, this course is only focused on residential real estate.

See salaries and explore the career path for Commercial Real Estate Agent