Loan Originator Courses
Are you a full service professional?
- Is “loan originator” on your list of client services?
- Offering this service can bring you amazing commissions on the loans you help bring in!
A loan originator is defined as any person who, for compensation or in the expectation of compensation, either directly or indirectly makes, offers to make, solicits, places, or negotiates a residential mortgage loan.
- History of Mortgage Lending
- Secondary Mortgage Market
- Mortgage Lenders
- Residential Real Estate Appraisal
- Mortgage Instruments
- Closing the Residential Loan
- Residential Mortgage Loan Origination and Processing
- Mortgage Loan Servicing and Administration
- Underwriting the Residential Mortgage Loan
- Regulatory and Compliance Issues
- Government Insurance and Guaranty Loan Programs
- IL Mortgage License Law
- Private Mortgage Insurance
- Loan Calculation
The Candidate Examination Handbook and information
regarding the examination can be found at the Applied Measurement
Professionals‘ (AMP) website at www.goamp.com.
The examination is comprised of 100 questions. 85 questions are used to
determine your score, and 15 questions are being pre-tested for future
versions of the examination. Pretest questions are not identified as
such and are not included in the candidate’s score. The 100 questions
are divided into two major content areas. A candidate must answer 61 of
the 85 questions correctly to pass the examination. The score report
will only reflect a “pass” or a “fail”. A list of the two
major content areas and other general information regarding the
examination, can be found in the Candidate Examination Handbook.
Applicants can take the examination multiple times until they succeed.
In addition, each calendar year, a Loan Originator shall
complete a minimum of 6 hours of continuing education in residential
mortgage finance, as approved by the Commissioner. Continuing Education
is an annual, calendar year (January – December) requirement. As of
January 1, 2004, all loan originators must obtain 6 hours of continuing
education credit. If a candidate fails to complete the required
continuing education you and/or the mortgage broker licensee which
employs you could be subject to discipline. This course
meets the 6 hour continuing education requirement as well as serves as
a preparatory course for the state licensing examination.
Tuition: $395 - includes text & calculator kit
*Tution can only be paid with Money Order made out to LAURMAC LEARNING CENTER, LLC*
Please contact us for more information.