CREDIT UNION TRAINING - CU Training Inc.

LEN01: UNDERSTANDING CONSUMER CREDIT

Borrowing money is a significant event in a person's life, so understanding the elements of the lending process will be very important to our members. This program reviews different types of loans and loan issues: good loans versus bad loans, security or collateral, a detailed overview of the consumer loan document, along with a variety of general lending terms and conditions.

LEN02: LOAN PRODUCTS

This program focuses on loans for different purposes and products that are associated with loans. It presents varying types of consumer loans including personal loans, IRA loans, demand loans, lines of credit and credit cards, and overviews a very important product related to loans - creditor insurance.

LEN03: THE LOAN APPLICATION

This program looks at the loan application and assessment process. It starts with the loan interview and shows how the process might feel to a member. The program looks at ways to deal with the member's uncertainties, and opportunities to expand the business the member does with the credit union.

LEN04: THE LOAN APPROVAL PROCESS

This program deals with all the investigation that must be completed before a loan can be approved. It also covers the ratios that are used to determine if a member can afford the loan payment, and the checks that are performed for the member's previous credit history.

LEN05: VERIFYING SECRITY

Whether or not a loan can be approved often depends on the security the member provides for the loan. This program looks at what's involved in getting the loan approved with particular attention to valuing and auditing the security that will be attached to the loan.

LEN06: CREDIT INSURANCE

Credit unions can offer members excellent loan insurance coverage including credit life insurance and credit disability insurance. The program also offers details of home and auto insurance products.

LEN07: EQUAL CREDIT & FAIR LENDING

This program discusses the regulations in place for promoting fair lending practices and preventing discriminatory lending practices. The program also covers record keeping and written communication, which are important parts of documenting our equal credit and fair lending policies and practices.

LEN08: ERROR RESOLUTION

This program explains the regulations credit unions must follow in order to protect our members from credit fraud. It discusses the liabilities and responsibilities of the credit union, our members and other companies with regard to credit fraud prevention. It also cover errors in billing, and the rights and responsibilities of the member and the credit union in resolving billing disputes.

LAD01: THE ADMINISTRATIVE ROLE

This program is designed to help the people who administer loans feel comfortable with the lending process and the daily procedures required to maintain a smooth and efficient lending function. It explores where to get information, how to administer the process and how to deal with questions from borrowers.

LAD02: FEES AND FILES

This program focuses on specific procedures including dealing with disability claims, accounting for appraisal and inspection fees, completing lien searches, and conducting audits of loan and mortgage files.

LAD03: PROCEDURES AND ADMINISTRATION

This program prepares the loan administrator to disburse funds appropriately in different types of situations. By completing this program the employee will know how to prepare for disbursing loan and mortgage funds, and the documentation required for each.

LAD04: MANAGING REGISTRATIONS & PAYOUTS

This program acquaints the employee with post-lending situations and requests, such as preparing commitment letters, completing bank confirmations, dealing with requests for interest statements and preparing for payouts.

REL01: UNDERSTANDING MORTGAGE CONTRACTS

In this program explains the history of mortgages and numerous important mortgage terms and concepts. It covers the subject of mortgage interest and how it is calculated; the interest adjustment date, amortization, the term of a mortgage, and types of payment structures.

REL02: MORTGAGE PRODUCTS AND FEATURES

Mortgages or Deed of Trust differ depending on a number of factors: what the funds will be used for, the type of property, and whether the home exists or is being built. The program also reviews many different mortgage features such as the flexibility of mortgage payments and payouts, assumability and portability.

REL03: REAL EASTATE LENDING PARTICIPANTS

This program focuses on all the different people involved in the mortgaging process including mortgagors, guarantors and mortgagees, second mortgagees, brokers, underwriters and appraisers, escrow, title insurance, insurers, and the credit bureau.

REL04: PROPERTY CONSIDERATIONS

This program concentrates on the types of properties that can be mortgaged. It's important that we underwrite properties that maintain their value. This requires adherence to property standards, both urban and rural. The program also discuss placing a mortgage on raw land.

REL05: THE MORTGAGING PROCESS

The mortgaging process usually begins with a general enquiry and progresses to a mortgage interview in which the member will be asked questions about the property and the applicant's ability to repay the mortgage. The program also explains how an appraisal confirms the value of the property, and how to move toward having the mortgage approved. It also explains the completion date, possession, and maturity of a mortgage.

REL06: FLOOD INSURANCE & PROPERTY VALUATIONS

This program explains flood insurance requirements as they apply to obtaining a mortgage to purchase a home. It covers the fees involved, appraisal requirements, record keeping and discusses the rights and responsibilities of both the borrower and the lender with regard to obtaining insurance and purchase property in flood hazard areas.

REL07: HOME EQUITY LENDING

This program looks at home equity loans and how we determine whether a member has equity in their home with which to borrow against. It reviews the different types of interest rate options and terms and conditions that apply to home equity loans, along with flood insurance requirements and documentation requirements.

REL08: MORTGAGE PAPERWORK

A large part of being an effective lender is in understanding the required documentation in completing an application. The program reviews the various forms and documents used in a lending application and discuss the importance of each.