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Chapter 13

Chapter 13. Loan Origination, Processing, and Closing. 13-1. Chapter 13 Learning Objectives. Understand the steps involved in processing a loan application and closing a mortgage Understand the operation of mortgage bankers. 13-2. Loan Processing. Appraisal Market Approach

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Chapter 13

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  1. Chapter 13 Loan Origination, Processing, and Closing

  2. 13-1 Chapter 13 Learning Objectives • Understand the steps involved in processing a loan application and closing a mortgage • Understand the operation of mortgage bankers

  3. 13-2 Loan Processing • Appraisal • Market Approach • Cost Approach • Income Approach • Applying for Mortgage Insurance • FHA • VA • PMI

  4. Loan Closing 13-3 • Transferring Title • Signing Documents • E.G. Promissory Note

  5. Mortgage Banking • Non-Depository Institutions • Do Not Hold Loans in Portfolio • Retain Servicing Rights • Sources of Funds Are Commercial Paper and Warehousing Loans • Income Primarily From Origination and Servicing Fees

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