Mortgage banking education includes classes and field training that qualify you to become a mortgage broker or other mortgage specialist. The aim of most mortgage broker education is to teach you mortgage education and training basics so that you can pass the certification courses required by your state's Mortgage Bankers Association (MBA). This is the basic education and certification required for many mortgage positions.

However, mortgage training classes are not only about certification. Established mortgage professionals take mortgage sales training to become more proficient in specialized positions and to build their resumes for top jobs. In today's changing mortgage climate, continual mortgage finance training helps all mortgage professionals remain valuable to their employers. If you think you might need mortgage training, consider:

1. Get familiar with mortgage education basic terminology and concepts before enrolling in courses.
2. Explore the mortgage finance training qualifications you need for your career.
3. Select continuing mortgage broker education courses to advance your career.

Action Steps
The best contacts and resources to help you get it done

Become familiar with mortgage education basic skills and knowledge

Before taking mortgage classes, learn some basics the mortgage industry, like terminology, key concepts and general mortgage broker responsibilities. By acquiring some basic knowledge, you will be more prepared for mortgage training courses and will be able to focus your class time on mastering new concepts.

I recommend: Learn common terms you will need to know as part of your mortgage broker training with the useful glossary at Mortgage Trainers of North America. WiZiQ provides informative online presentations that cover mortgage banker training basic concepts.

Understand what mortgage education you need for your career choice

There may be specific requirements to become a mortgage specialist in your state. Become part of your state's Mortgage Bankers Association and learn what the exact certification requirements are for your state. If you have a specific position in mind, you may wish to speak to mentors in the field or potential employers to learn what the requirements are for your chosen career.

I recommend: Learn about commercial mortgage training and the qualifications you need to become a mortgage specialist at GLR Sales. DiversityWorking.com offers helpful information about mortgage classes and training needed for a mortgage broker career.

Consider additional mortgage banker training to advance an established career

Mortgage courses are not just for professionals entering the field; if you want to further your career, start your own mortgage business or land a new job, mortgage classes can help you gain the skills you need. There are a number of classes available for mortgage professionals who already have a state certification, but want to take their careers to the next level. Additional mortgage training may also be needed to help you renew your licensing requirements.

I recommend: Power of Choice Coaching has useful audio tips, how-to articles, FAQs and free resources offering advice on training opportunities for mortgage professionals who would like to advance their careers. Listen to audio modules for established mortgage professionals and access helpful tips about mortgage schools and classes for established professionals at Battlecall.com.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Always pursue more mortgage education than you think you will need. Management positions and other top spots require higher degrees or certifications, and you will have an easier time showing your qualification for these jobs with advanced educational achievements. Both a Master's in Business Administration (MBA) and a Certified Mortgage Banker (CMB) certificate are good options.

Mortgage education is essential in an industry where trends and practices seem in a constant state of flux. Since mortgage professionals at all levels in your organization have to deal with these changes, it is essential that everyone concerned stay abreast of current mortgage classes, guidelines, regulations, products and trends.

Mortgage courses are readily available online and in traditional classes; as a business owner, you should provide mortgage-training classes to equip your staff. As long as people buy and sell property, there will be a need to obtain mortgage education.

Consider the roles and responsibilities of your employees and choose targeted mortgage schools to ensure their success. You will need to:

1. Target the training to support your niche market of either commercial mortgage training, wholesale, retail or correspondent lending
2. Determine acceptable proximity to your company when choosing mortgage training classes
3. Consider self-study or online mortgage education for continuous mortgage training

Action Steps
The best contacts and resources to help you get it done

Choose mortgage schools according to their specific disciplines

A specific discipline refers to a smaller mortgage practice within the loan process. Your employees may need commercial mortgage training, underwriting, FHA, loss mitigation or even knowledge about foreclosures. Even if junior employees need an introductory course in the essentials of mortgage lending or principles and trends of the industry, decide the focus and content of your target mortgage training classes.

I recommend: Have an employee take a free mortgage training class from Mortgage Training Institute or Complete Mortgage Processing and listen to his recommendation about using the company for further mortgage training.

Offer your employees mortgage training with face-to-face trainers

Mortgage training workshops offer industry standards taught by veterans in the field. Your employees will appreciate the benefit of learning from mortgage professionals who possess years of practical experience. Consider sending employees to workshops sponsored by mortgage banking education firms as well.

I recommend: Send employees to live training. One source that you may want to consider is the Mortgage Processor University. For specific one-on-one instruction, consider a TrainingPro class in your area.

Manage mortgage education for your employees, especially in the areas of compliance

Choose trusted, responsible employees to study current compliance standards and federal regulations and compare those standards with your current practices. Provide continuing mortgage education for your employees so they can apply pertinent laws and regulations for best practices in your company. This self-study mortgage education process enables them to articulate gaps in your practices and will help you to remain compliant.

I recommend: Choose a licensing and compliance tracking system and ensure that your employees keep up-to-date. Support an online mortgage education culture. Mortgage Education.com also provides online mortgage classes in Spanish.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  For an employer, issues such as compliance, mortgage guidelines and federal regulations make continuing mortgage courses a must. You may want to consider continuing mortgage education as part of the performance evaluation criteria in your organization to ensure that your employees are equipped in this changing mortgage marketplace.

Making the most of mortgage education and training means not only taking mortgage banker training in order to be certified in your state, but also finding ways to take inexpensive classes and researching types of training that can expand your career. You can help your mortgage banking education go further by considering some non-traditional ways to find training and information.

Making the most of mortgage education and training begins with speaking to other students about their classroom experiences. Other students and brokers often have plenty of information about classes and can also offer support and help to other students. The Internet is also a great resource, offering non-traditional classes and other resources that can help your career in the mortgage industry. If you want to pursue mortgage finance training, consider the following:

1. Find free online mortgage classes to hone basic skills and supplement paid classes.
2. Select specialized mortgage education courses to advance your career.
3. Network with other professionals to get the inside track on mortgage schools.

Action Steps
The best contacts and resources to help you get it done

Take online mortgage training classes at no cost

Some online courses offering mortgage education are available at no cost, often through a simple free registration or download. Free online courses are accessible at any time. They also help you pass state certification exams and are a good supplement or alternative to paid classes.

I recommend: The Mortgage Training Institute offers a free 2.5 hour mortgage training class, and provides detailed course objectives. CompleteMortgageProcessing offers a free mortgage e-course for mortgage professionals.

Consider mortgage schools offering specialized commercial mortgage training

In addition to state certification, some employers may require an advanced degree like a master's degree in business administration or certification as a Certified Mortgage Banker. Classes in specialized programs will advance your career, help you understand how to close more deals and provide valuable information on how to market your mortgage business. Specialized classes can be a great way to supplement your traditional mortgage courses and can help you understand how to succeed in the mortgage industry.

I recommend: Leader's Edge Training offers leadership courses for mortgage professionals. Their course outline is a useful checklist of the types of skills mortgage professionals may want to seek to advance their career prospects. MortgageMarketingTips offers an online e-course for mortgage professionals who want to hone their marketing abilities.

Network with other mortgage professionals to learn more about mortgage education and training

Before enrolling in mortgage classes, you may have many questions about online mortgage education and other types of classes. Once you do enroll in a school or course, you may want support and help from fellow students and professionals. Forums dedicated to the topic of mortgage training are an excellent place to ask specific questions about mortgage training courses and to get help with classes once you are part of a training class.

I recommend: MortgageBrokerLand is an online community for mortgage professionals and includes a forum for mortgage education and training. The Broker Outpost has an active forum where members can discuss and learn more about mortgage education and training.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Keep in mind that most mortgage positions require letters of recommendation, proof of work experience, completion of mortgage classes and an exam. Start preparing for your certification early, so that you have the required number of courses and work hours for your exam and possess the skills and understanding needed to pass the exam.

Mortgage professionals need to obtain required education and training prior to offering their services. Professionals may need specific licensing courses and exams to provide their service, such as mortgage broker licensing and mortgage lender licensing. Some specialize further, such as by obtaining FHA training so they can become FHA approved to sell these types of government backed loans. The terms regarding the mortgage education and training industry can be confusing. Learn them before taking any courses.

Action Steps
The best contacts and resources to help you get it done

Mortgage broker licensing

To become a mortgage broker, an individual needs to obtain a mortgage broker license. Mortgage broker licensing is obtained through state approved schooling and licensing exams. Each state's requirements differ, though all states and the District of Columbia require this mortgage education for brokers.

I recommend: MortgageNewsDaily provides an overview of mortgage broker licensing.

Mortgage lender licensing

A business may need to obtain mortgage lender licensing. This gives the business the ability to act as a mortgage banker, broker or both. Licensing requirements are based on state requirements. States require educational courses to be taken, an exam to be passed and continuing education.

I recommend: Oregon's Licenses, Permits and Registrations website provides state requirements for mortgage lending licensing.

Commercial Mortgage Servicer Professional Certificate

The Commercial Mortgage Servicer Professional Certificate program gives mortgage services in the commercial sector recognition for achieving high levels of education and professionalism.

I recommend: CampusMBA offers an outline of what is included in obtaining a Commercial Mortgage Servicer Professional Certificate including course requirements and a candidate profile.

Certified Mortgage Banker (CMB)

The Certified Mortgage Banker designation is given to professionals after they have completed a set course of education and exams. It is a higher-level industry standard.

I recommend: The Michigan Mortgage Lenders Association outlines in greater detail what this designation provides.

Residential loan officer

A residential loan officer is an entry-level position in the mortgage industry. State requirements for obtaining a license differ, but students often have a degree in finance and economics.

I recommend: The Bureau of Labor Statistics outlines the educational and training requirements of a residential loan officer.

FHA training

Mortgage professionals who wish to sell or auction FHA properties need to have FHA training. Being FHA approved means meeting various standards as a mortgage broker and taking specific courses.

I recommend: The Mortgage Training Institute outlines the importance of FHA training and provides an overview of the training needed.