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Real Estate Underwriting Training- Full Loan Review Process

4.5 Filled star Filled star Filled star Filled star Half star
Based on 289 ratings
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Oyinye N Ejindu

This course is designed to help you land your first job as a mortgage credit analyst and beginning a rewarding career in the mortgage industry. The willingness to learn and having an open mind alongside education is key for growth in this industry. Real estate analyst and underwriting is the process of reviewing a loan application to determine the amount of risk involved. The Analyst will look at the borrower's financial standing and the value of the property at hand to review the potential of the deal. A typical real estate transaction has so many moving parts, it can be easy to get lost in the details. An credit analyst’s role is to research the borrower and investment to determine the security of a loan. The reason for underwriting real estate transaction process exists specifically to help investors and lenders avoid potentially risky deals. Getting a career in Real Estate especially as a credit analyst / mortgage underwriter poses its challenges and many have tried and failed the entrance exam. This course is designed to give you the tools to excel on your entrance exam as well as the ability to pass your test cases so you can be well on your way to a very rewarding career.

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What's inside

Learning objectives

  • This course is designed to help anyone land a job as a credit analyst or a real estate analyst
  • You can learn this course and pass your credit analyst exam
  • This course includes a pdf copy of all terms needed to pass your interview and your credit analyst exam
  • A sample test case review is also included in this course to help you completely a full real estate analysis on a new file
  • Credit analyst, real estate analyst, senior mortgage underwriter, underwriting team lead, credit analyst team lead, real estate analyst lead
  • Show more
  • Show less

Syllabus

Students Will Learn How to Review the Loan Application 1003 URLA

This is the introduction to mortgage underwriting and steps to become a mortgage underwriter. It also discusses my experience and how you can land a mortgage underwriting job making up to 55 dollars an hour

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This is an introduction to Loan Application and what items will be reviewed when going over a sample 1003 URLA Loan Application

This video is a test case review of a sample 1003 URLA. It also shows key areas to focus on in a  sample 1003 URLA

This is an introduction to Credit and what items will be reviewed when going over a sample credit report

This video is a test case review of a sample credit report. It also shows key areas to focus on in a  sample credit report and what to note for.

This video is an introduction to a wage earner W2 income borrower and what items will be reviewed when going over a sample paystub or a wage earner borrower

This video helps explain what a stable and qualifying income is and how to ensure you are accurately grossing up the income to ensure you get the correct DTI ratios.

This video is a test case review of a sample wage earner employed borrower. It also shows key areas to focus on in a  sample wage earner W2 borrower

This video uses this for a sample calculation of how bonus income is calculated and determined when using paystubs to qualify the borrower.

This video gives an example of calculating commission income and when to not include commission income.

This video is a test case review of a sample Schedule E Rental Income for a self employed borrower. It also shows key areas to focus on in a Schedule E Rental Income Review.

This section covers self employment borrowers an introduction to what to know about self employment borrowers.

This video gives an update on the self employment income process when dealing with an employee that is also a family member of a business.

This video is a test case review of a sample Schedule C self employed borrower. It also shows key areas to focus on in a Schedule C Review.

This is an introduction to Bank Statements and what items will be reviewed when going over a sample bank statements

This video is a test case review of a sample bank statements. It also shows all sections and how to review each section on a bank statements.

This is an introduction to Appraisal Report and what items will be reviewed when going over a sample appraisal report

This video is a test case review of a sample appraisal report. It also shows all sections and how to review each section on an appraisal report.

This is an introduction to Prelim Title Report and what items will be reviewed when going over a sample title report.

This video is a test case review of a sample title report. It also shows all Schedules and how to review each schedule on a title report

This chapter covers capacity most importantly ratios i.e. DTI and HTI which is crucial in determining loan eligibility and borrower's ability to repay

This chapter breaks down Amoritization, HOI and Taxes and HOA needed to determine ratios as well as capacity for loan decision.

This video gives a brief introduction into mortgage insurance and disclosures that an underwriter must pay attention during the review process.

In this chapter you will learn how to condition a loan while doing your underwrite. Conditions are the bread and butter of every file underwrite.

In this chapter you will learn how to avoid common mistakes and errors that underwriters make. Stay ahead of the competition by knowing the things to avoid while reviewing your files.

Learn the steps to getting your DE Certification upon hired by your employer.

Traffic lights

Read about what's good
what should give you pause
and possible dealbreakers
Provides a comprehensive overview of the loan review process, which is essential for understanding the full scope of a credit analyst's responsibilities
Includes a PDF copy of terms needed to pass the interview and credit analyst exam, which can be a valuable resource for exam preparation
Features a sample test case review, which offers practical experience in completing a real estate analysis on a new file
Covers key areas to focus on in credit reports, which helps learners identify important information and potential red flags
Explains how to calculate income for wage earners, rental properties, and self-employed individuals, which is a fundamental skill for assessing borrower eligibility
Includes a section on avoiding common mistakes made by underwriters, which can help learners develop best practices and improve their performance

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Reviews summary

Practical training for real estate underwriting

According to learners, this course provides a solid foundation for those entering real estate underwriting. Students found explanations for income calculation and DTI ratios clear, and the practical sample test cases highly beneficial for exam and job preparation. The step-by-step guidance and instructor experience are noted strengths. However, some reviews indicate parts feel slightly dated or lack depth for advanced scenarios, suggesting additional resources may be needed. Recurring comments mention production quality issues like poor audio or blurry visuals.
Provides a good starting point.
"This course is exactly what I needed to understand the mortgage underwriting process end-to-end."
"Overall, a solid foundation, but I feel I'll need supplementary material for more advanced scenarios."
"Excellent foundational course. It simplifies a complex process."
"Solid introduction for beginners. Covers the essential documents and calculations."
Concepts are broken down well.
"The instructor is knowledgeable and breaks down complex topics like DTI and income calculation clearly."
"The explanations are clear, and the test case reviews are invaluable."
"It simplifies a complex process."
"The instructor's explanations were easy to follow, and the practice materials were highly relevant."
Helpful sample cases and examples.
"The sample test cases were particularly helpful in applying the concepts learned."
"The real-world examples and sample files make the learning practical."
"I appreciated the focus on different income types... The income calculation examples were particularly helpful."
"The sample test case review sections helped me apply the concepts thoroughly."
Not sufficient for advanced topics.
"Overall, a solid foundation, but I feel I'll need supplementary material for more advanced scenarios."
"It's a decent starting point, but don't expect it to be the only resource you need."
"A good starting point before diving into more advanced topics or specific lender guidelines."
Issues with audio and video.
"The audio quality in some videos is poor, and the visuals are sometimes hard to read."
"Content is okay, but the production quality is not the best. Some videos are blurry, and the audio is inconsistent."
"Poor video quality."
Content may be slightly outdated.
"The course covers the basics, but it seems a little dated in some areas."
"Some forms or processes might have changed slightly."
"Could use some updates on recent regulatory changes."
"I found some information about certain document types seemed outdated."

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 Real Estate Underwriting Training- Full Loan Review Process with these activities:
Review Key Mortgage Underwriting Terms
Familiarize yourself with essential mortgage underwriting terminology to build a solid foundation for the course. Understanding these terms will make the course material easier to grasp and improve your comprehension of real-world scenarios.
Show steps
  • Identify key terms from the provided PDF.
  • Create flashcards or a glossary for review.
  • Test yourself on the definitions.
Read 'The Book on Estimating Rehab Costs'
Enhance your understanding of property valuation by learning how to accurately estimate rehab costs. This skill is essential for assessing the true value of a property and the potential risks associated with a loan.
View The Book on Estimating Rehab Costs: The... on Amazon
Show steps
  • Read the book and take notes on key concepts.
  • Practice estimating rehab costs for sample properties.
  • Compare your estimates with professional appraisals.
Calculate Debt-to-Income (DTI) Ratios
Master the calculation of DTI ratios through repetitive exercises. This is a fundamental skill for assessing a borrower's ability to repay a loan and is heavily emphasized in the course.
Show steps
  • Find sample loan applications online.
  • Calculate DTI ratios for each application.
  • Compare your results with a DTI calculator.
Three other activities
Expand to see all activities and additional details
Show all six activities
Develop a Loan Underwriting Checklist
Create a comprehensive checklist to ensure thorough loan reviews. This activity reinforces your understanding of the underwriting process and helps you avoid common mistakes.
Show steps
  • Review the course materials on loan review.
  • Create a checklist of all required documents.
  • Organize the checklist by loan type.
  • Refine the checklist based on test cases.
Read 'Real Estate Finance & Investments'
Expand your knowledge of real estate finance and investment principles. This book provides a broader context for understanding the underwriting process and making informed decisions.
View Real Estate Finance & Investments ISE on Amazon
Show steps
  • Read the book and highlight key concepts.
  • Summarize each chapter's main points.
  • Apply the concepts to real-world scenarios.
Analyze a Real-World Loan Application
Apply your knowledge by analyzing a real-world loan application. This project will solidify your understanding of the underwriting process and help you identify potential risks and opportunities.
Show steps
  • Obtain a sample loan application from a lender.
  • Review all documents and verify information.
  • Calculate key ratios and assess risk factors.
  • Write a report summarizing your findings.

Career center

Learners who complete Real Estate Underwriting Training- Full Loan Review Process will develop knowledge and skills that may be useful to these careers:
Credit Analyst
A credit analyst assesses the creditworthiness of individuals or businesses applying for loans. The job of a credit analyst involves analyzing financial statements, credit history, and other relevant data to determine the level of risk associated with extending credit. This course is designed to help individuals land a job as a credit analyst by providing a thorough understanding of the loan review process. Understanding how to review loan applications, credit reports, and other financial documents helps a credit analyst make informed decisions about credit risk. The sample test case review further enhances the practical skills needed for success in this role.
See salaries and explore the career path for Credit Analyst
Mortgage Underwriter
A mortgage underwriter evaluates the risk associated with approving a mortgage loan. This 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 aspiring mortgage underwriters understand the full loan review process. The course provides a comprehensive understanding of the documentation and analysis required for underwriting, including reviewing loan applications, credit reports, income calculations, asset verification, appraisals, and title reports. This training helps build a strong foundation for succeeding as a mortgage underwriter.
See salaries and explore the career path for Mortgage Underwriter
Real Estate Analyst
A real estate analyst evaluates the financial viability of real estate projects. The job entails researching market trends, analyzing property values, and creating financial models to assess the potential return on investment. This course helps aspiring real estate analysts understand the loan review process, which is a critical aspect of real estate transactions. Learning how to analyze loan applications, credit reports, and property appraisals helps a real estate analyst make informed decisions about the financial feasibility of a project. The course's focus on real estate analysis makes it especially useful for those pursuing this career path.
See salaries and explore the career path for Real Estate Analyst
Commercial Underwriter
The commercial underwriter evaluates the risk associated with extending credit to businesses and corporations. A commercial underwriter analyzes financial statements, industry trends, and market conditions to determine the creditworthiness of potential borrowers. This course provides a solid foundation in understanding the full loan review process, which may be useful for commercial underwriting. Learning how to review financial documents, assess risk, and make informed lending decisions helps a commercial underwriter excel in their role. The course's emphasis on real estate analysis adds a valuable dimension to their skillset.
See salaries and explore the career path for Commercial Underwriter
Loan Officer
A loan officer assists individuals and businesses in applying for loans. The role involves gathering financial information, assessing creditworthiness, and guiding applicants through the loan application process. This course may be useful for a loan officer as it provides a strong understanding of the underwriting process and the factors that influence loan approval. Understanding how credit reports, appraisals, and other financial documents are reviewed helps a loan officer better prepare loan applications. The course could improve a loan officer's ability to guide clients and increase the likelihood of loan approval.
See salaries and explore the career path for Loan Officer
Loss Mitigation Specialist
A loss mitigation specialist works with borrowers who are at risk of defaulting on their loans. This role involves analyzing financial situations, negotiating payment plans, and exploring options to help borrowers avoid foreclosure. This course may be relevant as it provides a detailed understanding of the loan review process and the factors that contribute to loan risk. Knowing how loans are underwritten and the potential pitfalls that can lead to default helps a loss mitigation specialist develop effective strategies to assist struggling borrowers.
See salaries and explore the career path for Loss Mitigation Specialist
Mortgage Loan Processor
A mortgage loan processor is responsible for gathering and verifying the documentation required to process a mortgage loan application. This role involves coordinating with borrowers, underwriters, and other parties to ensure that all necessary information is collected and accurate. This course may be useful for mortgage loan processors as it provides insights into the underwriting process and the specific documents that underwriters review. Knowing what information is critical for loan approval helps a mortgage loan processor streamline the application process and reduce the likelihood of delays.
See salaries and explore the career path for Mortgage Loan Processor
Compliance Officer
A compliance officer ensures that a company adheres to laws and regulations. Work in this role includes developing compliance programs, conducting audits, and investigating potential violations. This course may be useful for compliance officers working in the financial industry. This is because it provides an understanding of the regulations surrounding loan underwriting. Knowing the rules of real estate will help a compliance officer ensure that their company is following them.
See salaries and explore the career path for Compliance Officer
Risk Manager
A risk manager identifies and assesses potential risks for an organization. Work in this role includes developing strategies to mitigate these risks. This course may be useful for a risk manager as it provides insights into the process of underwriting, which is an integral part of assessing risk. Potential risks for a company are associated with lending and borrowing, so a risk manager can benefit from the skills learned in this course.
See salaries and explore the career path for Risk Manager
Real Estate Appraiser
The real estate appraiser estimates the value of properties. The responsibilities of a real estate appraiser include inspecting properties, researching market data, and preparing appraisal reports that are used by lenders and buyers. This course may be helpful for real estate appraisers as it provides insight into how appraisal reports are used in the loan underwriting process. Learning about the key elements that underwriters look for in an appraisal report helps an appraiser ensure that their reports meet the needs of lenders and contribute to successful loan approvals.
See salaries and explore the career path for Real Estate Appraiser
Financial Advisor
A financial advisor provides guidance to individuals and families on investment strategies, retirement planning, and other financial matters. The role of financial advisor involves analyzing clients' financial situations, developing personalized financial plans, and recommending suitable investment products. This course may be useful as understanding real estate transactions and the loan process can add value to a financial advisor's repertoire. The course can help a financial advisor provide well-informed advice to clients considering real estate investments.
See salaries and explore the career path for Financial Advisor
Real Estate Broker
A real estate broker assists clients in buying, selling, and managing properties. A real estate broker provides guidance on market conditions, property values, and negotiation strategies. This course may be useful as it provides insights into the financial aspects of real estate transactions, which is relevant to a career as a real estate broker. A deeper understanding of the loan process has the potential to enhance your ability to assist clients and close deals.
See salaries and explore the career path for Real Estate Broker
Portfolio Manager
A portfolio manager is responsible for managing investment portfolios. This career role involves making investment decisions, monitoring portfolio performance, and adjusting strategies to meet client objectives. This course may be useful for a portfolio manager focusing on real estate investments as it provides insights into the underwriting process and the factors that influence loan risk. Understanding how real estate loans are evaluated helps a portfolio manager make informed decisions about including mortgage-backed securities or real estate investment trusts in a portfolio.
See salaries and explore the career path for Portfolio Manager
Investment Banker
An investment banker helps companies raise capital by issuing and selling stocks and bonds. The purview of this job includes advising companies on mergers and acquisitions. This course may be useful for those investment bankers who are involved in real estate transactions. The course could help them gain a deeper understanding of the financing aspects of real estate deals, thereby allowing for better negotiations and structuring of deals.
See salaries and explore the career path for Investment Banker
Escrow Officer
An escrow officer manages the funds and documents involved in real estate transactions. This job includes ensuring that all conditions of the sale are met before the transaction is finalized. This course may be somewhat relevant as it provides an understanding of the loan underwriting process, which is an integral part of many real estate transactions. Knowing what information lenders require and how loans are approved helps an escrow officer facilitate smoother transactions.
See salaries and explore the career path for Escrow Officer

Reading list

We've selected two books that we think will supplement your learning. Use these to develop background knowledge, enrich your coursework, and gain a deeper understanding of the topics covered in Real Estate Underwriting Training- Full Loan Review Process.
Cover image
Real Estate Finance & Investments ISE
Save
Comprehensive resource on real estate finance and investments, often used as a textbook in university-level courses. It covers topics such as mortgage markets, valuation, and investment analysis. Reading this book will provide a broader understanding of the financial aspects of real estate, enhancing your ability to analyze loan applications and assess risk. It provides additional depth and breadth to the course.
Real Estate Finance & Investments ISE
Paperback
Check
Real Estate Finance & Investments ISE
Kindle Edition
Check
Cover image
The Book on Estimating Rehab Costs
Save
Provides a comprehensive guide to estimating rehab costs, a crucial skill for real estate analysts and underwriters. It covers various aspects of property renovation, including materials, labor, and contingency planning. This book is valuable for understanding the potential costs associated with a property, which directly impacts its value and the risk assessment of a loan. It adds depth to the appraisal review section of the course.
The Book on Estimating Rehab Costs: The Investor's...
Paperback
$$

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Rating
4.5 Filled star Filled star Filled star Filled star Half star
Effort
3.5 total hours
Via
Udemy
Instructor
Oyinye N Ejindu
Language
English
Traffic lights
Read about what's good
what should give you pause
and possible dealbreakers
Provides a comprehensive overview of the loan review process, which is essential for understanding the full scope of a credit analyst's responsibilities
Includes a PDF copy of terms needed to pass the interview and credit analyst exam, which can be a valuable resource for exam preparation
Features a sample test case review, which offers practical experience in completing a real estate analysis on a new file
Covers key areas to focus on in credit reports, which helps learners identify important information and potential red flags
Explains how to calculate income for wage earners, rental properties, and self-employed individuals, which is a fundamental skill for assessing borrower eligibility
Includes a section on avoiding common mistakes made by underwriters, which can help learners develop best practices and improve their performance
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