Live Class
PreLicense: This course is approved by the North Carolina Commissioner of Banks for the 8 hours of course credit required for initial NC licensure.
Continuing Education This course is ALSO approved by the states of NC, SC, FL, MD and TX for 8 hours of continuing education credit (FL=10 hrs).
Therefore: You can take this course
-- Strictly for your personal learning with no state credits
-- to ONLY get a new NC loan officer license and no CE
-- To get both NC Pre-License AND various other state's CE credits
-- Strictly for CE in various states.
If you wish ONLY to get a new NC loan officer license, click here.
Why take this course...and our intentions
In North Carolina you are required to take a Fundamentals class as part of your initial licensure. Additionally, as a professional Loan Officer, you are required to attend Continuing Education every year as a condition of licensure renewal. This course qualifies; it is approved for Pre-License in NC and approved for CE in NC, SC, FL, TX and MD, so compliance will be accomplished by your attendance.
But we think you also deserve something more: a memorable course with lasting impact. Our motto is "It might be mandatory, but it doesn't have to be mundane!" You deserve a "Wow!" experience.
Fundamentals of Residential Mortgage Loan Origination covers the basics: overview of the mortgage industry, types of loans, basic mortgage math, state and federal laws, the 1003 and an introduction to the concept of ethical origination. While it is "basic", we have found that Loan Officers with even a year or two experience can benefit from the sheer power of review.
And there is something more: an encounter with a master originator. Both of our trainers have over 18 years of experience and thousands of loans personally originated. They are smart, experienced and battle-proven.
A class worth planning for, waiting for and everything you hoped good training could be!
Over 7500 students have passed through this course to prepare for the state exam to obtain their license, and over 1000 have taken it for review and Continuing Education state credit. We learn more every time we give class, all of which is feed back in, to keep the quality growing. It is our job to guide new loan officers in the first steps towards their license, and upgrade the knowledge of license-holders. We intend to do it with complete excellence.
It is our goal that you gain the skills to place yourself deep in the stream of success and achievement as a mortgage loan officer. Congratulations on your decision to improve your knowledge as a loan officer and welcome!
Course Agenda and
Bonus Online Access to Course Materials
The entire contents of the course is online, on our Student Resource Page. You will be given a password to access this information. Additionally: you are welcome to audit (retake) live class a no additional charge.
Course Agenda and Student Resource Page, click here.
If you wish ONLY to get a new NC loan officer license, click here.
To Register for this Course
with no state credits; OR
for CE credit in one or more states; OR
for CE credit in one or more states AND NC Pre-license
just pick your date from the calendar below and call us at
888-341-7767
Here is a schedule of our upcoming live classes:
What our students are saying...
"Very thorough. Quality and quantity of information as well as take home materials. The online tests are great."
Kelly Decker
"It answers all the questions and fills in the gaps if you have any. Very Passionate for this business …really helps the class."
Scott Baucom
"I feel confident in saying that this was the wisest decision I've made since my wedding day. The class was comprehensive and ethical."
no name given
"Well organized, well presented, easy to follow, great materials/handouts, very professional presentation. 1st rate, excellent, true professional."
Ed Parker
"This course provided valuable and useful information for beginners and also for those who have been in the business for several years."
Tara Loughlin
"The classroom and the online course training were very good. I walked away with a better understanding of the loan originator process and the ethics needed to succeed."
Michael W. Hardister
"Not only did we learn the NC laws, we learned how to befriend customers
long term relationships. Very detailed and teaches you more than just how to pass the NC state test."
Ed Martin
"An excellent well thought out guide. I would recommend this class to anyone looking to enter the field of loan origination. I found Kathy to be very competent in her knowledge of the industry and more important, she's and excellent teacher."
Ryan Munn
"Well conceived presentation. Facilitator was knowledgeable, friendly and accessible. Taught by an experienced person. Very good follow up program and access to information. Experienced, kept the class moving and made the written material relevant."
no name given
"I was looking to build a foundation of knowledge, I now have it. Very professional. Gave great tips. Explained in terms anyone could understand. Thanks."
-Michael H. Farmer
"The course made the business look easier. Knowledgeable instructor with good competencies/practices. The course is very thorough and every question is given attention. Excellent instructor, knowledgeable and patient/courteous."
Darina Redmond
"This was a very comprehensive seminar and an excellent preparation for the exam. It was very well-presented as well as interesting. Our instructor, Kathy Godin, was marvelous in her extensive knowledge of her subject and was very complete in her wonderful presentation."
Debbie T. Perry
"Really understands the industry and makes it understandable and plain. Paul is the best instructor I've had in a long time. Caring and truly a leader."
Wm. Keith Thomas
"This is probably the easiest manual to follow. The flow was nice. The understanding and comprehension of the class and materials was fabulous. I didn't feel like it was 8 hours long. I felt like I wasn't being talked at but taught. I have heard nothing but great things about Paul. He kept the class interesting. It was great - if he's ever looking for and LO, I would work for him any day."
Laura Surr
"Paul Donohue Is very knowledgeable about the business and he simplifies it so everyone can understand. He is very zealous."
no name given
"An eye opener to the mortgage industry. Class was great. Actually, it didn't even feel like an 8-hour class. Great teachings."
Jessica Wilde
"He has the ability to let out incredible amount of information in just 8 hours and still be clear and understandable."
Alfonso Pulido
"Very inspiring, been in the industry over a year and have retained lots of valuable info. He has taken the lending industry and given it a new point of view for myself."
Adam Spruill
"Paul keeps you attention and makes the comprehensive material very interesting and enjoyable! This course gets you excited about helping other people live out their dreams."
Logan Moon
"Fast paced, interesting and informative. Energetic, extremely knowledgeable, confident, holds (the) attention of the class."
Jackie King
"Very detailed. Paul was extremely upbeat and knowledgeable. He kept the interest up. He make you motivated. Ready to go out and get the business."
Monica Morgan
"I feel much better about my knowledge of the industry after sitting for the class. His enthusiasm is contagious!"
Jeff Cupstid
"Definitely the ethical choice for learning the most value of any class I have taken. I can honestly trust what Paul taught. I left confident, I will be back."
Michael Alvarez
"I am new in this business and this class was very informative. The instructor did a very good job. Very easy to understand and comprehend the information."
Felicia Shaw
"I strongly recommend a review of Paul's class just prior to taking your exam. A wonderful refresher of large amounts of information. Electrically charged to give information on a life style not a career. Gives new meaning to the word dedicated."
Pamela Forshey
"Energy level captivating, info was easy to retain but also makes you look forward to studying. Highly, highly intellectual and stimulating."
Jason Black
"Very nice presentation. Great idea to have other options to follow up with class with the online and CD offered. Gr-8 job!"
Crystal Rowell
"If you had doubts about the industry and whether or not you fit, this seminar provided the clarity and motivation needed to move forward, with enthusiasm. Not only was the presenter knowledgeable - but enjoyable and personable."
Leisa F. Johnson
"This course provides a great foundation for individuals wishing to build a career in the mortgage industry. It is now my turn to expand my new found knowledge. This provides a great overview of the NC mortgage requirements and should make the future easier to navigate. Paul made the information easy to follow, which will make exam preparation easier."
Steve Mahan
"This class was a benefit to all levels of students, from the novice to the seasoned mortgage professional, because Paul gave us the full benefit of his own experiences and ethics. It makes a required class less tedious - the time flew! Paul Donohue is an entertaining and dynamic presenter who doesn't hold back."
Karen Lowe
"The most up to date techniques, rules and regulations. After working in the business 6+ months, the tips presented are real. 'The real deal'."
Jeff Fancher
"All the information you need to pass the exam. Really made class fun and informative. He's a great speaker who really knows the business and knows how to talk to people."
Kenneth Phillips
"This was an excellent introduction into the world of mortgage loan origination. Not only do I now know the tenets of the mortgage industry, I know how to properly apply them. Excellent overall package with the right ideas."
Scott McGrath
"I left with a great boost to my confidence and a much greater understanding of a complicated industry! Even a novice like myself learned so much. If you already have and understanding, this class could be a real asset. A 'shot in the arm'. He conveys such a pride in and a love of his profession."
Pam Baker
"It is clear, comprehensive and gives good usable 'advice' along with facts. Dynamic, winsome and real - authentic."
Alice White
"I enjoyed it thoroughly and believe it to be a great first step into a new career! Loaded with pertinent info and presented well."
Brian Hockman
"At 1st I thought the class was very expensive but this was the best time and money I have ever spent on any class. Very knowledgeable on the subject. Fun and energetic. Paul has such an immense passion for helping others learn the ethical approach to conducting business. He has a true desire to help his students and customers obtain the ultimate American Dream."
Janet Fortenbery
"Class not only prepares you for the exam but promotes good practices and techniques for success. Informative and encouraging."
Laura Huggins
"An investment in successful originating - not only info for passing the exam."
Gayle Dean
"Very truthful in a declining moral climate"
David Benham
"It was really nice. I wish my whole company was here today with me."
Michael Donati
"That even being new to this business the concepts and ideas are easily understood."
Melissa Morrison
"Very effective and interesting. Obviously loves what he is doing. Passionate, honest and very people oriented far above average facilitator."
Bill McNeff
"This course was very helpful and I would recommend it highly. …filled with outstanding content."
Ed Maddox
"Excellent website. As good as it gets."
Brian Frank
"It's great to hear someone speak with such high ethical standards and to so firmly promote those high standards."
Eric Oklar
"Paul was very informative and extremely personable and made the time fly. He was simply the best."
Nicole Nolan
"You can see the excitement in Paul and his extensive knowledge is evident in his confidence in his product."
Adam Coble
"Paul is extremely knowledgeable and uses his personal experiences to integrate into the curriculum."
Chris Rogers
"It gave me all of the basic information in a way I could understand."
Tim Twitty
"I really believe you do a great job in teaching and showing that you care about the industry. Good communication on material."
Michael Weithman
"Thoroughly enjoyed. Enthusiastic, clear, knowledgeable, helpful, ethical."
Lynn Van Horn
"Have fun learning. Entertaining, informative, enthusiastic."
Craig Rozema
"Paul does a very good job of teaching a way to look at the sales aspect of the business."
Don Williams
"Paul has a passion for this business. It was great!"
Darryl Douglas
"Generous amount of meaning to aiding customers with their needs. Excellent teacher. I learned a lot. A real (bona fide) Go Get 'em Tiger!"
Amber LaSada Buckner
"Give you a good guide to the industry. Patient, clarity in giving knowledge, class is not boring."
Joyce Bigby
"Very positive instruction. Dynamic and entertaining. True sincerity about his professional and care those he helps."
Steven Clark
"Very energetic and charismatic speaking. Informative, riddled with real examples that drive and point home."
Katherine E. Weeks
"Learned a lot; very refreshing. Kept the class alive and interesting."
Evelyn Harper
"The class is fast paced enough to keep your attention. I found my mind did not wonder as it does in other similar classes. Excited about what he does."
Tommy Way
"Very informative and awesome, helpful, well spoken."
Phillip Allred
"I felt it was great! Loved his presentation!"
Michelle Shell
"Covers the material well. Never a dull moment. Great job. Dynamic, fun, knows the material."
Mike Smith
"Excellent class and instructor. Knowledgeable and extremely friendly - interesting."
Stephanie Hall
"I enjoyed the class and the instructor was very personable. She appeared very experienced and was personable and approachable."
Anna Bridges
"The leaning materials and course are presented in a nice methodical manner, covering everything from basics to law to ethics."
Steve Young
"The instructor was highly qualified. Kathy knows her business and obviously coarse to make certain that everyone in her class is successful."
John Ervin
"I found it to be very informative even with years of processing experience. Her background in the business, her character, her people skills - these are the some assets that are great."
Corina McLaughlin
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Course Agenda
Welcome to Class [11 min]
Page 01: Orientation/Frequently-Asked Questions
Page 02: The Purpose of the Class
Section 1 Introduction to the Mortgage Industry [16.5 min]
Page 03: Mortgage Bankers & Mortgage Brokers
Page 04: Why Do They Choose Us?
Page 05: What Is A Mortgage?
Section 2 The Loan Cycle, Players and the Process [66.0 min]
Page 06: Overview Of The Loan Cycle
Page 07: The Three Segments of the Industry
Page 08: Loan Cycle: Underlying Structure
Page 09: The Secondary Market
Page 10: From Origination to Securitization
Page 11: History of The Mortgage Industry Pt1
Page 12: History of The Mortgage Industry Pt2
Page 13: Loan Officers and Loan Processors
Page 14: Underwriters, Vendors, Partners, Regulators
Page 15: Flowers For The Processor, Even If It's You!
Page 16: Mortgage Insurance and Risk Management
Page 17: Credit Agencies and Credit Scoring
Section 3 Concepts, Definitions and Types of Loans [82.5 min]
Page 18: Deed of Trust/Promissory Note
Page 19: Equity
Page 20: Conventional/Conforming Loans
Page 21: ARM Essentials, 1/3
Page 22: ARM Essentials, 2/3
Page 23: ARM Essentials, 3/3
Page 24: ARM:Tools For Creating Value Distinction
Page 25: ARM High-Level Concepts, 1/3
Page 26: ARM High-Level Concepts, 2/3
Page 27: ARM High-Level Concepts, 3/3
Page 28: Gov't Sponsored/Non-Conforming Loans
Page 29: Sub-Prime Mortgages
Page 30: Sub-Prime High-Level Concepts
Page 31: Other Concepts and Definitions
Page 32: Quiz
Section 4 Federal Laws and Disclosures [99.0 min]
Page 33: Overview of Federal Laws
Page 34: RESPA Part 1/4
Page 35: RESPA Part 2/4
Page 36: RESPA Part 3/4
Page 37: RESPA Part 4/4
Page 38: RESPA Quiz
Page 39: HUD Settlement Statement
Page 40: HUD Proposed Rule Change 1/3
Page 41: HUD Proposed Rule Change 2/3
Page 42: HUD Proposed Rule Change 3/3
Page 43: HUD Supplemental Information
Page 44: TILA: Truth in Lending Act
Page 45: TILA and APR
Page 46: TILA and APR
Page 47: ECOA/FCRA/HOEPA
Page 48: HMDA
Page 49: Other Disclosures
Page 50: Quiz: Other Laws
Page 51: Questions from Section 4
Section 5 State Laws [60.5 min]
Page 52: Predatory Lending Act, 1/3
Page 53: Predatory Lending Act, 2/3
Page 54: Predatory Lending Act, 3/3
Page 55: Mortgage Lending Act, 1/4
Page 56: Mortgage Lending Act, 2/4
Page 57: Mortgage Lending Act, 3/4
Page 58: Mortgage Lending Act, 4/4
Page 59: Text of the Mortgage Lending Act
Page 60: MLA Frequently Asked Questions
Page 61: Audio Extras, State Laws
Page 62: Quiz: Know Your Laws
Section 6 The Loan Origination [82.5 min]
Page 63: 1003 Application Concepts 1/3
Page 64: 1003 Application Concepts 2/3
Page 65: 1003 Application Concepts 3/3
Page 66: Documenting the Application 1/3
Page 67: Documenting the Application 2/3
Page 68: Documenting the Application 3/3
Page 69: Gross Household Income, PI
Page 70: Amortization Worksheet
Page 71: Debt Ratio 1/3
Page 72: Debt Ratio 2/3
Page 73: Debt Ratio 3/3
Page 74: Completing The Application
Page 75: Red Flags
Page 76: Red Flags and Closing
Section 7 Ethics and Customer Service [38.5 min]
Page 77: Ethical Origination 1/3
Page 78: Ethical Origination 2/3
Page 79: Ethical Origination 3/3
Page 80: Positive Principles of Ethical Selling 1/3
Page 81: Positive Principles of Ethical Selling 2/3
Page 82: Positive Principles of Ethical Selling 3/3
Page 83: Do's and Don'ts
Section 8 Final Quiz and Summary [27.5 min]
NOTE: The quiz sections below are for self-evaluation only;
It is not required that you "Pass" them to received your certificate.
Page 84: Quiz 1/4
Page 85: Quiz 2/4
Page 86: Quiz 3/4
Page 87: Quiz 4/4
Page 88: Final Word and Closing
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