Schools of Mortgage Banking I (SOMB I) & II (SOMB II)

Mortgage Bankers Association

Event

Speaker(s)

Tuesday, December 07, 2010
6:00 AM-6:00 AM

Ft. Worth, TX

Mr. O’Dell taught Ethics, Regulatory Compliance, Laws Affecting the Mortgagee’s Interest in Property, and Non-Traditional Mortgages during SOMB I. During SOMB II, Mr. O’Dell again taught the Regulatory Compliance Update.

SOMB I emphasizes the interrelated roles of the departments within a residential mortgage banking firm and the relationships of the various institutions and agencies throughout the real estate finance industry. This course provides a foundation in residential loan production, underwriting, secondary marketing, warehousing and servicing. It also presents an overview of associated disciplines essential to a complete understanding of mortgage banking, including loss mitigation, capital markets, nontraditional mortgage lending practices, fraud detection and quality assurance, regulatory compliance, real estate law and commercial lending.

SOMB II emphasizes effective organization and management of the production, servicing, and secondary marketing departments for the purpose of controlling risks and maximizing bottom line profits. This course covers developing new markets, production management, servicing portfolio management and valuation, marketing risk management, and pricing strategy.

Both schools consist of three, four-day classroom courses and provide the essential knowledge and skills necessary to be competitive in an industry undergoing constant change.