Loan closing is the legal execution, or creation, of a mortgage loan. At the loan closing, title to and ownership of the property passes from the seller to the buyer. At the same time, the buyer borrows the amount necessary for the purchase while pledging the property as security for the debt.

CampusMBA's Closing Principles and Procedures presents an overview of loan closing and its role in the mortgage lending cycle. This course is designed for anyone desiring a better understanding of the closing process and the principles and procedures guiding the culmination of the mortgage transaction.

The course addresses:

• The role of closing in the mortgage lending process
• Origination, processing, and underwriting concepts that affect the closing process
• Legal issues related to closing
• The impact of federal laws and regulations on the closing process
• Documents present or executed at closing
• The purpose and use of title insurance
• How the lender protects its investment - the importance of insurance, taxes, and escrow
• What happens to the loan file before, during, and after settlement

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Enroll anytime and take up to 8 months to complete the course.