Mortgage Certification and Certificate Program Information

Certificate programs on mortgage teach the practice of lending, including terminology and laws. At the end of mortgage certificate programs, attendants will be familiar with the process of applying for and granting loans to potential borrowers.

Essential Information

All states require basic training in mortgage fundamentals to become a mortgage banker. Classes in mortgage certification prepare certificate holders to take examinations through associations like the Mortgage Bankers Association to become licensed through their state as professional mortgage loan officers. Mortgage loan officers also known as mortgage bankers, work in the real estate and banking industries. They are good with people and numbers, and they assist borrowers in the purchase of homes and other properties through their knowledge of financing and real estate investment planning.

  • Program Levels: Certification programs, professional certification
  • Prerequisites: Bachelor's degree in finance, economics or related area or extensive employment history in the banking inventory, high school diploma or GED
  • Program Specializations: Short sales and auctions, among others

Mortgage Certification Program

Coursework and program length vary by the offering institution, and the programs are often tailored to requirements of the state in which the program is offered. Some programs even offer electives for those who wish to gain credentials in a specific area of the business, such as short sales or auctions. Topics covered include loan types in addition to the following:

  • Appraisals
  • Credit reports
  • Lending practices
  • Mortgage ethics
  • Mortgage calculations
  • Qualified buyers

Employment Outlook and Salary Information

The outlook for mortgage bankers is best for those with a college education and experience in the industry, reports the United States Bureau of Labor Statistics, (BLS) www.bls.gov. The BLS expected a 8% job increase in its projections data for the years 2012-2022 for loan officers. The BLS also reported that $62,600 was the median annual salary for loan officers as of May 2014.

Professional Certification and Continuing Education Information

It is necessary to take continuing education courses in mortgage lending to maintain an up-to-date licensure. Those with experience in the field can also pursue voluntary professional certification from the Mortgage Bankers Association. The association offers various levels of certification that depend on the number of years of experience the pursuer has.

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