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CAKART Industry Endorsed Certificate in Mortgage Advisor Online Course

Industry Endorsed Certificate in Mortgage Advisor Online Course

A Complete video lecture on Industry Endorsed Certificate in Mortgage Advisor Online Course

Overview of Industry Endorsed Certificate in Mortgage Advisor Online Course

A unique program, excellent for those seeking a career in mortgage sales or credit. Comprehensive coverage of mortgage products across Home Loans & LAPs. Covers Sales, Credit, the legal & technical process, etc.

Table of contents

Course Outline

Understanding an MortgageDefining a Mortgage: What a Mortgage is; Key terms used in a mortgage.

Broad Classification of Mortgages: Classification of types: Home loans with variants, Loans Against Property.

Types of MortgagesBasis Property Ownership: Classification of mortgage contracts, basis the ownership or possession of the property.Basis Interest Rate Structure: Classification of mortgage loans basis different rate structures, such as fixed, floating and combinations.

Basis Repayment Structure: Types of repayment structures available to customers; understanding the repayment patters, using an amortization worksheet.

Tax BenefitsSection 80C - Principal Deduction: Discussion on various deductions available under section 80C to customers, on taking a home loan.

Section 24 - Interest Deduction: Discussion on limitations and cases under which a customer can claim deductions for paying interest on home loans.

Sourcing of MortgagesMortgage Process: Mortgage process and skills required to source a mortgage.

Channels for Sourcing a Mortgage: Direct channels, indirect channels and other source of leads.

Builder Project Approval

Approval Policy for a Project: A discussion on the broad parameters of how all the housing units in the builder's project is appraised, and the entire project is approved (such as - legality and technicality of the project, background and financials of the builder).

Login and DocumentationAdvantage of Checks: You will learn why the initial login checks are important.Login Checklist: List of documents that are required for a mortgage loan.

Purpose of Documentation: You will learn the importance of each documents required for a mortgage loan.

Types of Individual, Business and Non Profit Borrower EntitiesIndividual Borrowers: Treatment of individual borrowers in a mortgage loan.Business Borrowers: Types of business borrowers and how they are treated, in a mortgage loan.Non Profit Borrower Entities: Non business entities such as Trusts & Societies

Negative List: Negative list of borrowers, caution profile borrowers and negative areas for lending.

Eligibility - FOIR and LTVFOIR: What FOIR is; Components of Income, how obligations are calculated for individual & business liabilities.LTV: Meaning of LTV and how to calculate it - typical ratios for mortgage loans.The Double Whammy: Adjusting FOIR+LTV, for business borrowers

Deviations: Various types of credit deviations and who approves them.

Appraisal ProcessCIBIL and De-Dupe Report: The importance of CIBIL and De-Dupe report in the Appraisal Process.Verifications and Checks: The checks such as FI/CPV, RCU, etc. that need to be carried out while appraising the loanCredit Appraisal Memo (CAM): Working through the credit assessment sheets, for individual and business borrowers.

Eligibility Sheet: You will learn about the calculation of eligible loan amounts, based on various assessment sheets.

Program for Business Borrowers

Mortgage products for Business Borrowers: Discussion on product variants, which a lender structures, for specific target segments. For example, Vanilla Income Program, Industry Margin Program, RTR Program etc.

Legal ReportsTypes of Property Titles: Different types of property title - Freehold, Leasehold, Commonhold, Power of Attorney and documents related to each title.Check for a Valid Title: Detail about the title search report and chain of ownership - 13 year rule.

Types of Charges: Different types of charges a lender can place on the property - First and Exclusive Charge, Second Charge, Pari Passu Charge.

Technical ReportsCoverage of Technical Reports: Elements covered in a technical report.Sample Guidelines: Sample Guideline for preparing a technical report.Violation: Different types of building violations; how such violations affect the property value.Method of Valuation: Different methods of valuation of property - Unit Area Method, Land and Building Method, Valuation of an Under Construction Property.

Other Concepts: Concepts like - Carpet Area, Built-Up Area, Super Built-Up Area.

Disbursement Process

Disbursement Process: The entire process from Post approval to handover of cheque, to the customer.

Post DisbursementRe-schedulement: Classifying the various ways a customer can re-schedule loan repayments - moratoriums, prepayments, etc.Pre-closure: The process of closure of a loan, before completion of the tenor.Repayment Swapping: How customers can change the account from which they repay the loan.

Collections: Discussion on Collections and categorisation of Defaults, classification of customers, basis DPD (Days Past Due).

About faculty of Industry Endorsed Certificate in Mortgage Advisor Online Course

Sumit Gulati
He started his career as Sales Manager (mortgages) and rose to the position of a Zonal Manager handling all lending products viz Mortgages, SME loans and Commercial assets and performing functions like – sales, credit, collections & operations.

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