Explaining Loan Modifications
Course Number: ABA
Course Code: ABA
The role of loan modifications and how they apply to various borrower circumstances is discussed. Learn to identify eligibility requirements and procedures for obtaining a loan modification and identify how to avoid falling victim to loan modification scams along with resources available for reporting.
Re-versioned: December 2014
Produced by Ellie Mae/ AllRegs??
What You’ll Learn
After completing this course, students will be able to:
-Identify the role of loan modifications within the mortgage lending industry
-Share insight on how loan modifications apply to various borrower circumstances
-Identify key components mortgage components such as DTI, LTV, and various mortgage terms
-Define Loan Modification
-Identify loan modification options
-Apply loan modification options to homeowners
-Identify fraudulent loan modification scams
Audience: Loan Originators, Underwriters, Processors