The Federal Housing Administration (FHA) back in 2014 issued new guidelines for lenders who manually underwrite FHA-backed mortgage loans. The new underwriting requirements are intended to encourage lenders to use what FHA described as a defined set of objective standards and compensating factors to make responsible, risk-based underwriting decisions. The Agency said the new rules should also increase the pool of eligible borrowers. Most FHA-insured loans are approved through automated underwriting systems that score applications using FHA's TOTAL Mortgage Scorecard. However, when a "refer" is issued or when borrowers were not scored because they do not have credit scores, manual underwriting will allow the use of compensating factors to help borrowers qualify for loans outside of automated standards -- placing a greater emphasis on the need to learn how to manual underwrite FHA files.
In response to these new guidelines, NAMU® has teamed up again with CampusUnderwriter® to offer a comprehensive "professional development" training & certification program entitled: Certified FHA Manual Underwriter (NAMU®-CFMU), which includes (21) hours of online FHA manual underwriter training.
NAMU®-CFMU Certification Includes (4) Online Webinars:
- Due Diligence - "Learn Manual Underwriting" (6-HOUR WEBINAR)
- Case File Underwriting Review - "FHA/VA Loans" (6-HOUR WEBINAR)
- FHA/VA Underwriting - "For Underwriters" (6-HOUR WEBINAR)
- FHA New Rules - "A Complete Review of the Guideline Changes" (3-HOUR WEBINAR)
Also includes a 1-Year NAMU® Membership Plan.
Earning a NAMU®-CFMU Certification through NAMU® means you have:
- Completed 21 Hours of Online Training.
- Passed a 30-Question Online "Proctored" Exam (via Webcam) with 80% or Higher.
- Passed a Background Check (via a 3rd-party secure online portal).
- Agree to Maintain NAMU® Membership in Good Standing With Yearly Re-Certification.
- Agree to Maintain the Highest Ethical & Professional Standards.
HOW IT WORKS: As soon as you enroll, we will email you the Recorded On-Demand Self-Study Webinars & Course Materials, so you can start taking the training IMMEDIATELY. You can ALSO attend the "live" instructor-led online webinars at NO extra charge (which are scheduled periodically throughout the year.) NOTE: You’ll have unlimited access to both the Recorded Self-Study Webinars and the "Live" Instructor-Led Webinars, at NO extra charge for 1 year.
WHO SHOULD ATTEND: Aspiring mortgage underwriters wishing to learn FHA manual underwriting, from A to Z. Whether you're unemployed and looking to enter the mortgage underwriting profession, or you're currently working at a bank or lender as an underwriter, this FHA manual underwriting certification program will provide the skills you need to succeed as an effective FHA manual underwriter. Also ideal for underwriting managers looking to train their existing staff on proven FHA manual underwriting principles.
ABOUT THE INSTRUCTOR: Each CampusUnderwriter® instructor has an average of 15+ years of prior mortgage related experience. Each instructor also draws from a different knowledge base that may include such areas as: mortgage underwriting, loan processing, FHA, VA, Conventional loans, Commercial lending, USDA Rural Housing Loans and more.
SYSTEM REQUIREMENTS: You will need the following: 1) a Computer, 2) Internet (DSL or higher), 3) Computer Speakers and 4) Webcam/Microphone. Please check beforehand to make sure these items are working properly. Note: dial-up internet connection will not work and wireless internet must have a full signal.
EXAM FORMAT: The exam is a timed 1-hour open-book online "proctored" (via WebCam) 30-question exam (multiple choice/true & false). You must get 80% or higher to pass exam. NOTE: You may also re-take the exam up to 3 times with a 2-week "cooling off" period in between each failed exam. If you fail the NAMU®-CAMU exam three times, you must wait 1 year before you can re-register for the NAMU®-CAMU certification -- the 1-year waiting period will start from the date of the third failed exam.
GRADUATION: Upon successful completion of each online webinar, you will be emailed a Certificate of Completion. In addition, once you've passed the background check & exam, you will be issued your NAMU®-CFMU certificate as a PDF File.
Yearly NAMU®-CFMU Re-Certification: You must re-certify yearly to keep NAMU®-CFMU Certification active. And as such, you will have the option each year to renew your NAMU®-CFMU certification. If you choose to do so, a $299 re-certification charge will apply each year; at which time, you will be required to take a new exam and pass a new criminal/sex offender background check via a third-party provider. The $299 re-certification charge will provide you with an additional year of access to the updated course materials as well the (21) hours of online training. You’ll also have an additional year to ask questions directly to the instructors.
Refund Policy: No refunds or credits will be issued if a student and/or customer has logged into any recorded/“live” webinar course or has requested a Certificate of Completion for the course/certification/bootcamp/bundled package purchased. If a student and/or customer has not logged into a recorded/“live” webinar course or has not requested a Certificate of Completion, the customer is entitled to a full refund (minus a $75 administrative cancellation fee) provided a refund request is received in writing or via e-mail by NAMU® within (5) calendar days from the date of purchase.
Training & Certification Disclaimer: All training & certification offered through NAMU® is "professional development" and is for informational purposes only (not to serve as licensure training or legal advice). Obtaining NAMU®-CFMU certification does not imply you are an "expert" or "licensed" in any mortgage related field -- it simply means you have taken (21) hours of training, passed a 1-hour timed online proctored exam and passed a third-party background check. It also does not guarantee you will find a job. We do not provide job placement assistance. We are not owned, operated or affiliated with HUD, FHA, VA, State Government or Federal Government in any way. The NAMU®-CFMU certification is not a local, State or Federal Government issued certification. We reserve the right, at any time, to strengthen and enhance the NAMU®-CFMU certification by changing curriculum and/or discontinuing any of the training classes included in the NAMU®-CFMU certification. We also reserve the right, at any time, to change the NAMU®-CFMU certification process and/or discontinue the NAMU®-CFMU certification altogether.
TOTAL PRICE: $895.00... SAVE $1,185
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