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Preparing Loan Documents course (print)

Preparing Loan Documents course (print)

Product Code:

Learn the fundamental skills and knowledge required to prepare loan documents in a timely, efficient manner.

  • One CPD Online Complimentary Exam

  • $110.00
    Non Member Price
  • $55.00
    CUNA Member Price
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This course helps employees obtain a broader understanding of the lending process and the steps involved in preparing loan documents. Learn the fundamental skills and knowledge required to prepare loan documents in a timely, efficient manner.

This is a CUNA STAR course.

Topics include:

The Lending Process

  • List four types of credit and how members use them
  • Describe the two major differences between closed-end and open-end credit
  • Define collateral and explain how it is used to secure a loan
  • Explain the difference between fixed and variable interest rates
  • Identify how variable interest rates are set
  • Outline the four steps in the lending process

Laws and Regulations

  • Explain how government agencies implement laws through regulations
  • Analyze loan situations for ways to avoid discriminating on the bases prohibited by the Equal Credit Opportunity Act (ECOA)
  • Describe the purpose of the Truth-in-Lending Act and what type of credit it covers
  • Recognize the purposes of the Fair Credit Billing Act and Fair Credit Reporting Act
  • Highlight the major relationships between loan policies, laws and regulations

Interview and Application

  • Outline four types of information requested from loan applicants
  • Perform three actions to prepare for the loan interview
  • Explain how objectivity and confidentiality are critical to a successful interview
  • Describe six key techniques for conducting an effective loan interview

Loan Underwriting

  • List and explain five factors that indicate creditworthiness
  • Explain four factors to evaluate the information on a credit report
  • Summarize how credit scores are determined and how they aid underwriting
  • Identify two other methods used to verify information on the loan application
  • List four "red flags" that may indicate a lack of creditworthiness

Loan Decision and Closing

  • List the time frames for informing members of loan decisions and how long documentation must be retained
  • Define counteroffer and typical alternatives credit unions offer
  • Explain the purpose and responsibilities of guarantors and cosigners
  • Define the term adverse action and describe situations when it occurs
  • Describe the purpose of the promissory note, security agreement, and Truth-in-Lending disclosure

A comprehensive exam is included through CUNA Professional Development Online (CPD Online). Exams can be purchased for $24.50 each.

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Have a question? Email or call 800-356-8010 ext. 3.