Mortgage and Loan Education

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Mortgage Broker Schools

Written by Dana Hinders
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If you are detail oriented, persuasive, and enjoy solving problems, mortgage broker schools can help you train to enter this aspect of the banking profession. Depending upon the program you choose, mortgage broker schools can help you prepare for state licensing exams, earn professional certifications, open your own business, or find your first mortgage broker position. Every mortgage broker school offers a different type of career training; careful research will help you select the mortgage broker school that best meets your needs.

Topics Covered in Mortgage Broker Schools

Mortgage broker schools teach students the basics of processing a loan application. Mortgage broker school courses will help students learn the advantages and disadvantages of various types of loan products. Some of the topics commonly covered in mortgage broker school courses include how to pre-qualify a borrower, analyze a credit report, and refinance an existing loan.

Compliance with federal laws and regulations is an important part of a mortgage broker's work. Mortgage broker schools teach students how to comply with the Equal Credit Opportunity Act, Truth in Lending Act, and Home Mortgage Disclosure Act. They may also discuss Good Faith Estimates, required disclosures, and consumer privacy guidelines.

Mortgage brokers are basically salespeople; their jobs require a carefully crafted marketing strategy. Mortgage broker schools teach students how to find prospective borrowers and earn commissions from completed loan applications. They may discuss how to host home buying seminars, create effective advertising campaigns, use the Internet as a marketing tool, and generate referrals from satisfied clients. Some mortgage broker schools will even bring in speakers who have successfully operated their own mortgage brokerages to offer tips and advice for aspiring entrepreneurs.


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