This Post-Closing & Audit Review Workshop is a fully interactive 6-hour online webinar designed to teach you the details that are required in each section of the real estate appraisal. You'll learn the details on what the industry looks for in these reviews to prevent fraudulent appraisal practices. You'll also gain the details and a complete understanding of the Sales Comparison Approach, Income Approach and Cost Approach, and much more!
Enroll today, and we'll teach you everything from A to Z in order to develop the necessary skills to perform post-closing audit reviews!
Purpose of the review, Post-closing QC in preparation of selling loan, Internal audit, Lender required.
Explanation that a post-closing review is NOT a re-underwrite of the loan Review that all documents are in agreement with how loan was approved, Review that all documents are fully executed, Check dates for compliance.
Critical Documents that require review.
Detailed review to compare all documents, Security Instrument / Deed of Trust.
Properly completed, Properly signed by borrowers, Properly notarized, Rider(s) attached, Terms are correct and agree with Note Rider.
Make sure the Note has the Correct terms, Properly signed by borrowers, Rider(s) attached, Terms are correct and agree with DOT Rider.
Make sure the HUD-1 Settlement Statement has the Required funds from borrower were properly verified, Usable funds, Properly signed by all parties, Seller paid closing costs do not exceed allowable per program guidelines, Loan amount and Sales Price agree with purchase contract and approval.
Make sure the Final Truth-in-Lending has the Payment stream reflects terms as shown on Note, Prepayment Penalty properly disclosed, Late Charge properly disclosed, ARM terms properly disclosed, Properly signed by borrowers.
Make sure the Good Faith Estimate / Initial Truth-in-Lending is Dated within 3 days of application date, Earliest of credit report date, 1003 or GFE date.
Make sure the Underwriter Approval / DU Findings Terms agree with how loan was closed, Conditions have been satisfactorily met, Compensating Factors considered are clearly identified.
Review the Mortgage Insurance Certificate for Borrower name, etc.
OPEN FORUM Q&A - Ask the Expert
Live, Instructor-Led Online Webinar -- Held Monthly
Fully Interactive -- Ability to Ask Questions to Instructor
FREE Unlimited Training for 1 Year
6 Hours Total
All Course Material Included
Certificate of Completion
Recorded Self-Study Included at NO Extra Charge, Watch 24/7
Job Placement Resources (Upon Request)
WHO SHOULD ATTEND:
Any mortgage professional looking to work on the back-end of the process, and become an expert at performing post-closing & audit reviews.
HOW IT WORKS:
1. You need a Computer, Internet Connection (DSL speed or higher), and Computer Speakers.
2. Each day of class you will be emailed an invite with your log-in/password. From here, you can click the link, enter your password, and download/print that day's course materials. Finally, you'll be able to log into the class up to 1/2 hour before the class start time.
3. Once the class starts, you will hear the instructor speak through your computer speakers. You will also have the ability to ask questions through the online chat feature located on the right-hand side of our online training platform. We encourage you to ask LOTS OF QUESTIONS!
ABOUT THE INSTRUCTOR:
As an active FHA DE and VA SAR Underwriter herself, Anna Skrabak has 15+ years of underwriting experience working for several major lending institutions all over the country. In addition to underwriting Anna also has experience in processing, closing, funding, and operations management. During class Anna works with you directly to review and respond to all your questions.
You will need the following: 1) a Computer, 2) Internet (DSL or higher) and 3) Computer Speakers. Please check beforehand to make sure these items are working properly. Note: dial-up internet connection will not work and wireless internet must have a full signal.
Upon successful course completion, you will be emailed your Certificate of Completion within 5-7 business days.
Each live class has no more than 30 students. With this in mind, live classes typically fill up 1-3 weeks ahead of time. NOTE: It is highly recommended you reserve your spot early for the live session, and in the meantime, we can provide you with the Recorded Self-Study (at no extra cost), so you can begin your training immediately.
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