The Georgia Association of Mortgage Brokers
Educational Foundation (GAMBEF)
Class Descriptions

A sister organization of the Georgia Association of Mortgage Brokers, the Georgia Association of Mortgage Brokers Educational Foundation (GAMBEF) offers educational classes, professional certification programs, and courses required for state licensure by the Georgia Department of Banking and Finance. For prices, locations and more information on courses offered by the GAMB Educational Foundation, please call GAMBEF or Frank “Paco” Torch directly at 770-751-9820,  ( ftorch@earthlink.net

RML School

Is a 3-day class on comprehensive information on the following subjects: l. An overview of the mortgage industry; 2. The types of mortgage loans available; 3. Loan origination and regulations; 4. Prequalifying borrowers; 5. Underwriting standards; 6. Processing mortgage loans; 7. Loan documentation; 8. Appraisal review; 9. Closings; 10. Servicing; and 11. Secondary market economics.

Ethics

What is Ethics? According to the Dictionary it is a noun. The discipline dealing with what is good and what is bad and with moral duty and obligation; a set of moral principles or values. This course will be an opportunity to learn the nuances of ethical origination of loans. It may seem obvious, but the laws make it difficult to make what we are doing right.

RESPA

Study of the Real Estate Procedures Act. This course identifies the content of the Good Faith Estimate and the rules that brokers and lenders must abide by. The HUD Booklet that must be given to loan applicants will be reviewed in detail. The course will explain escrow procedures, fraud and prohibitions, disclosure requirements, and service release fees.

TILA

TILA explains the relationship of the Truth in Lending Act to Regulation "Z", identify the responsible regulating agency of Truth in Lending. We will provide study on the parts of Truth in Lending related to mortgage financing, its "Regulation "Z" and related commentary. At the same time, the course attempts to provide broad-based understanding of Truth in Lending’s structure, recent changes, and the role of the Board of Governor’s of the Federal Reserve Systems with regard to Truth in Lending’s implementation.

Sub Prime Course

The Sub Prime Course is a case study approach, participants will review sample loan files, a credit report and an appraisal. You will learn how to analyze and read a sub prime underwriting credit matrix, determine credit grade and complete a Truth in Lending disclosure. Participants will also learn how to determine whether Section 32 applies and how to complete a Section 32 disclosure using a worksheet. Get out your calculators and be ready to work. You will do a case study with sample loans, credit reports and an appraisal. Course includes: Rationale for Sub Prime Lending; Comparison of Sub Prime to Conforming Lending; Sub Prime Products; Mortgage Laws; The Sub-Prime Process; Marketing; - Selection of Lender.

Loan Processing

The Mortgage Loan Application · Verification of Present Income/Employment · Verification of Funds to Close/Reserves · Verification of Rent/Mortgage · Supporting Documents · The Credit Report · Property Information · Residential Appraisal Report · After Underwriting · Working with the Realtor.

Click here for the Application/Reservation Form