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AllRegs Academy’s Instructor-Led Online Courses offer you the opportunity to learn from industry-recognized instructors from the comfort of your office.
Instructor-Led Online Course
The VA Home Loan Guaranty has been providing our servicemen and women the opportunity to obtain the American Dream of homeownership since World War II. Many veterans look to these programs to find an affordable and reliable means to get their home. These powerful programs can be a challenge to many mortgage professionals. Working with the variety of unique requirements and disclosures can be a daunting task.
AllRegs Academy's Underwriting VA Loans provides clear instruction for those looking to add the VA program to their existing product mix. The course explains guidelines and provides strong advice from industry experts who have worked with the programs personally. The target audience would include processors, underwriters, quality control staff, and anyone who wants to better understand the underwriting process of VA loans.
Participants will be introduced to VA loan programs, VA eligibility and entitlement, applicant and property requirements.
By the end of the course, students will be able to distinguish between Conventional and VA loan requirements, determine VA loan guaranty based on eligibility and entitlement, calculate VA loan maximum mortgage, and perform a credit analysis of borrower documentation consisting of income, asset, and liability; as well as determining allowable seller contributions and closing costs.
Classes consist of four 90-minute live sessions with instructors delivered through the WebEx conferencing platform.
Upon successful completion of this course, you will earn 6 hours of credit towards the Residential Government Underwriter (RGU) certification.
Choose from the upcoming four-week course sessions:
Michelle Gray is currently an underwriting manager for a mortgage company in Virginia. Michelle started in the mortgage industry in 1988 as the receptionist and worked her way up to processing mortgage loans and then onto underwriting them. Read Full Bio »
What do you hope your students learn from this course? In every class I teach, I hope my students leave with a thorough knowledge of the subject I'm teaching in addition to knowing what resources are there for them to find the answers to things they might not know or run into later. For FHA, I want them to be able to go into a FHA file and be able to tell if it meets FHA guidelines. For VA, the same thing, want them to know if the loan meets the VA guidelines which are cumbersome to say the least! If it's a collateral analysis class, I hope that I focus on the main issues on the URAR and show them how to determine if the appraisal is a good one.
Michael D. James is the Community Development Director for Lee County, Virginia. In this capacity, he manages economic development and affordable housing activities as well as serving as Zoning Administrator for the county. In addition, he has 20 years of private sector mortgage banking experience in a variety of origination, training and underwriting positions. Read Full Bio »
What do you hope your students learn from this course? I hope to provide a slightly different view point on the topic. I have been the salesman trying to get underwriting to approve a deal, and I have been the underwriter listening to the salesman’s plea to approve the deal. I hope to share my well-rounded perspective with the students.
By the end of this course, participants will be able to:
Participants will be provided a student manual for each of the four sessions.
Participants will be required to complete an assessment at the end of each of the four sessions to assess mastery of the content.
To receive the Certificate of Completion participants must receive a course total of 75% or greater.
The course is $365 per person. Tuition includes all course materials. Upon successfully completing the course, students will earn an industry-recognized certificate of completion.
Topics Introduction to Department of Veterans Affair Loan Application Requirements VA Loan Programs VA Loan Limits VA Funding Fee Complete the VA Maximum Mortgage Calculation Exercises found on the course site Objectives Define the purpose of the VA State the benefits VA loans Recognize the disclosures required with a VA loan Define a variety of VA Programs Calculate the VA maximum mortgage amount
Topics Seller Concessions Property Eligibility Appraisal Processing Procedures Review the VA case study and determine how the lender can save the deal Objectives Determine allowable seller concessions Recognize eligible property types Recognize the requirements and processes for ordering and reviewing appraisals
Topics Navigating WebLGY Automated systems Borrower Qualifications Residual Income Compensating Factors Review the case study and using the VA Loan Analysis Worksheet calculate the applicant’s residual income and debt-to-income ratio. Make a loan decision, and list compensating factors, if applicable. Objectives Navigate the VA portal, specifically WebLGY Use automated systems as a powerful tool to help determine VA loan documentation requirements and make credit decisions Explain the key differences between conventional and VA guidelines with regard to credit history, income/employment, and financial assets Apply the residual income analysis method of qualification and explain how VA’s qualification ratio requirement differs from conventional mortgages
Topics Processing and Underwriting Procedures Agents and Sponsoring Lenders Prior Approval versus Automatic LAPP VA QC Findings VA Refinance Options IRRRLs Cash-out Refinance Construction-to-Permanent Objectives Differentiate the delegated VA underwriter and delegated appraisal reviewer requirements for Supervised Lenders, Non-Supervised Lenders and AgentsReview the requirements for a VA Interest Rate Reduction Refinance Loan and VA Cash-out transaction
Click here to download the Full Agenda »
For more information, call our sales and customer service department at (800) 848-4904 or email firstname.lastname@example.org.
The training sessions utilize WebEx technology in conjunction with audio conferencing. Polling capabilities, live chat, and question & answer sessions allow participants to easily interact with subject matter experts. The course format consists of weekly 90-minute sessions, over a three- to four-week period. Prereading and exercises are included and accessed through the AllRegs Academy Learning Management System.Participants are required to complete assignments prior to each session.*An assessment will be given at the completion of each session and not at the end of the course. A total course score of 75% or better will enable students to receive a Certificate of Completion.
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Working with our corporate training solution team, we can help assess your staff and diagnose your training needs. We have a test bank of more than 1,000 questions and will incorporate assessments on your company-specific topics, policies, overlays, or procedures. In combination with our full suite of training solutions, we can design a professional development program to fit your company’s needs. » Learn More About Custom Training
Transform the way you look at mortgage compliance, mortgage guidelines and mortgage training. With AllRegs, you will find Fannie Mae underwriting guidelines, FHA servicing guidelines, FHA underwriting guidelines, FNMA guidelines, state compliance, and more all in one place. Find mortgage education, like affordable SAFE act training, and improve your mortgage policies to bring your business or performance to the next level.