Online Classes for Mortgage Agents
Some of the most commonly offered mortgage courses include the following:
- State Mortgage Broker Pre-Licensure Class: This program is offered as a one-block course, and its main goal is to prepare the student for the state mortgage broker license examination. The course may cover state mortgage and real estate law, the loan process from approval to repayment, mathematics and real estate ethics. Students must have a GED or high school diploma. Graduates who pass the license exam are prepared to begin careers in the real estate industry.
- State Mortgage Broker Post-Licensure Class: Most states require that new brokers take this 50- to 60-hour course before the first license renewal cycle. Topics covered include advanced brokerage theory and techniques, mortgage markets and the foreclosure process. This course may be divided into two or more sections with separate focus on general topics and mortgage brokerage economics. Graduates must pass the final examination with a state-determined minimum grade in order to retain licensure.
- Mortgage Broker Continuing Education Class: These classes are designed for the current mortgage broker's yearly class requirement. Students will find a variety of courses to take online that cover topics like mortgage office management, advanced investment practice, risk management and real estate law. Students may also find more general continuing education classes that cover new developments in the real estate industry. Graduates are qualified to maintain licensure.
- Federal Law: TILA Class: Though real estate laws change from state to state, there are several rules and regulations that apply on a national scale. One such law is the Truth-In-Lending Act, or TILA, and this course provides an introduction to the federally recognized mandate. Students will learn about the law's purpose and utilization, as well as the many amendments that it has undergone over the years.
- Real Estate Staging Class: In this course, students will learn about successful strategies in staging homes. Students will focus on interior and exterior selling points from the buyer's perspective.
- Remedial Class: This qualifying course will help students with the proper requirements for acquiring a real estate license.
Several for-profit companies and a handful of nonprofit universities offer the relatively short pre-licensure and post-licensure mortgage courses online. The rest of the online courses are intended for current professionals looking to fulfill the yearly continuing education requirements for their broker licenses.
Graduates of pre-licensure courses do not receive degrees but are prepared for entry-level jobs in real estate after passing state exams. Professionals who complete continuing education courses already have a more in-depth understanding of their field and can use the courses to learn about or specialize in certain aspects of mortgage agency. If an online real estate course does not qualify for state continuing education requirements, students may take these classes to count towards a certificate or degree in the broader field of real estate. All mortgage licenses are processed through the National Mortgage Licensing System, but because real estate law varies from state to state, the specific requirements for broker license acquisition and renewal are determined by student location.
Online mortgage agent courses are available as individual classes or through continuing education departments at various universities. Students will study topics like real estate staging and mortgage broker pre- and -post-licensure.