| COURSE : CERTIFIED MORTGAGE MANAGEMENT PROFESSIONAL | |
|---|---|
| Course Overview | Course is designed to present an overview of the basic servicing functions and the potential compliance risks of not applying appropriate processes. The course reviews the important correlations and interconnectivity between business units within the servicing organization and uses real life examples of issues that servicers are facing today.The course also addresses principles and fundamentals for success, including strategies for building a servicing portfolio, building a customer base, successful vendor selection and management, and developing company policies and procedures. Regulatory requirements and the National Servicing Standards are also discussed. |
| Training Duration | Total Training Hours : 30 Hours Training Duration : 1 Week Total Training Days : 5 Working Days |
| Training Schedules | Weekdays (Sunday to Thursday) Regular Sessions : 6 Hrs Per day (9am to 2pm or 3.00pm to 9.00 pm) Food & refreshments Included WeekEnds (Friday & Saturday) Fast Track Sessions: 8 Hours per day (9am to 5pm) Food & refreshments Included |
| Certifications: | 1) Certificate from Laurels Training Institute, Attested by Knowledge & Human Development Authority (KHDA) government of Dubai, UAE OPTIONAL 2) Certificate from American Institute of Professional Studies (AIPS) from USA (After 15 Days of course Completion which will couriered to the attendees office address) |
| Tests | Yes |
| Learning Aids | Yes |
| Course Material | Hard & Soft Copies of Study Material |
| Language of Instruction | English |
| Instructor Helpline | Yes 1. Email 2. Social Media (For Emergency requirements) |
| Registration Requirements | 1. Passport Copy 2. Curriculum Vitae 3. Passport size photographs 4. Course Fee |
| Mode of Payment: | Cash / Cheque / Credit Card / Bank Transfer. |
| Eligibility Criteria (Who should attend this training) | Course is designed for servicing staff, front line management, risk managers, analysts, auditors, quality control and compliance personnel. This course is ideal for personnel new to servicing or with 1-4 years of servicing experience |
| Course Benefits | Upon completion of the course, students will: Describe the servicer’s important role in mortgage banking Describe key concepts and principles related to escrow management and cash management Understanding the importance of building and maintaining a performing asset- the servicing portfolio Assess financial, operational and natural disaster risks to the servicing organization and methods of mitigating those risks Better understand the CFPB focus on selection and management of vendors, especially those who interact with your clients Understand the critical role that effective quality control measures and regulatory compliance play in servicing Identify the functional areas and the role of the servicer in default management and risk mitigation Discuss and report on quality control and regulatory compliance measures Describe strategies for the development and deployment of effective processes and procedures for servicing Discuss the current regulatory environment and how the implementation of the new national servicing standards and the CFPB requirements has impacted servicing |
| Course Contents / Outline | Servicing Principles Principles of mortgage servicing Areas of mortgage servicing Corporate governance Escrow Administration Definition of escrow and escrow administration Categories of insurance Servicer’s responsibilities regarding insurance and taxes Types of taxes related to real property Tax servicing practices and payment methods Strategies for managing escrows Escrow analysis Cash Management Corporate governance with regard to cash management Sources of and paths for funds that flow through the servicer’s cash management system Cash management costs; cost analysis; remittance Processing payments for loans in default Communications essential to cash management Cash balancing Importance of the cash management system
Building a Servicing Portfolio Servicing in an organization’s strategic plan Due diligence in the servicing portfolio acquisition process Issues managing the servicing portfolio acquisition Essential components for managing servicing operations Achieving efficiency in servicing operations via technology deployment Building and Maintaining a Customer Base The importance of maintaining customer relationships Keys to successful customer service operations Potential problem areas in customer service Customer communication methods Communication with other operations areas in the organization The importance of retaining and training quality staff Common customer service training issues Efficiency in customer relations operations via technology deployment
Investor Administration Relationship between the mortgage banker, secondary marketing, and investor administration Importance of corporate governance Guidelines for investor administration Issues and challenges regarding investor-purchased loans Corporate governance in investor administration Policies and procedures for handling advances, repays, and shortfalls. Challenges regarding investor administration Vendor Selection and Management Vendor role in servicing Vendor selection criteria Terms for inclusion in vendor contracts Governance model for vendor management How to manage and track vendor performance Strategy for outsourcing and vendor management Challenges regarding investor administration
Bankruptcy Bankruptcy overview Impact of automatic stay Purpose and impact of the major bankruptcy Discharge and multiple filings Foreclosure Use of foreclosure Recent changes to the foreclosure process Pre-foreclosure considerations Referrals Foreclosure methods (non-judicial and judicial) Bidding strategies MI claims Key measures of success Property considerations Policies and Procedures Policies and procedures template overview Financial Management Creation of the mortgage servicing right Balance sheet recognition Loan origination P&L statement Managing the mortgage servicing right Revenue streams Expense streams Changes in MSR valuation and implications Loss Mitigation Cost of default What loss mitigation is Retention and disposition options Working with a borrower Evolution of loss mitigation Changing role of the collector Regulatory requirements Future of loss mitigation: Borrower outreach Programs HAMP vs MP A closer look at preferred disposition options Resources Current Issues Current issues in the mortgage servicing arena |