MN-Pro Course Descriptions

4 Steps to Successful Mortgage Origination under the New Minnesota Laws (15 hours) 

This two-day comprehensive course in the fundamentals of mortgage loan origination will take you through the 4 steps to a successful mortgage origination under the new Minnesota laws: from prequalification, to full application, to processing, and finally to the closing table.  An excellent value and one of our most popular courses, this course canvasses the key changes and concepts under Minnesota Statutes, Chapter 58 including broker agency (when it does and does not apply), determining reasonable ability to pay, churning and tangible net benefit, tax and insurance disclosures, fully indexed rate, negative amortization, lender fees, prepayment penalties, and others.

Minnesota Residential Mortgage Law (7.5 hours)

This full-day comprehensive course provides an in-depth overview of Minnesota Statutes, Chapter 58, relevant provisions of Chapter 47, and other Minnesota laws implicated in residential mortgage origination.  Topics will include coverage of key definitions, the new licensing and bonding requirements, exemptions from licensing, the standards of conduct, including verification of a borrower’s reasonable ability to pay, prohibitions against churning and negatively amortizing loans, required disclosures, lender fees, permissible rates and charges, prepayment penalties, agency requirements, special mortgages, private rights of action, and criminal and civil penalties, among others.

Residential Mortgage Disclosures and Forms (3.75 hours)

This valuable course will discuss and analyze the disclosures required under the various federal laws and Minnesota law in the residential mortgage origination process, the purposes behind the disclosures, and when they are required.  In addition, optional protective agreements and forms will be provided and discussed.  This course is designed for mortgage loan originators and mortgage company owners who want to understand which disclosures and forms are required, which are optional, and the reasons why the use of particular disclosures and forms may be useful to or required in their business.  Sample disclosures and forms are provided as part of the course.   

Determining Reasonable Ability to Pay (3.75 hours)

This valuable course will provide an in-depth analysis of the new Minnesota law requirement to verify a borrower’s reasonable ability to pay, and will provide a sound methodology to follow in the prudent accomplishment of this requirement, including application of fundamental principles of prequalification, document collection and analysis, application of benchmark ratios, and consideration of compensating factors.  This course is hands-on and exercise-driven, and is designed to give attendees practical experience and confidence in performing prequalifications that give sufficient consideration of the borrower’s reasonable ability to repay a loan.  

Mortgage Broker Agency and the 27 Standards of Conduct (3.75 hours)

Under Minnesota law mortgage brokers are now considered agents of their borrowers in every circumstance.  This course will analyze the new legal duties placed on mortgage brokers and consider when they do and do not apply.  This course will also analyze and discuss each of the 27 standards of conduct residential mortgage originators must adhere to in the conduct of their business, the purposes behind each standard, and what they mean for your business.

Paying Referral Sources under RESPA (3.75 hours)

In this valuable course you will learn the ground rules under RESPA and relevant Minnesota law for compensating those in a position to refer business to you, both permitted and prohibited practices; what the rule exemptions are under RESPA and how you can utilize them; and what you need to be aware of in structuring these relationships under other applicable federal and state laws.  This course is designed for mortgage lenders, brokers and loan originators, real estate company owners, brokers and agents, title insurance company owners and agents, financial planners, accountants and other professionals who want to broaden their business through the establishment of such relationships and properly give and receive compensation under RESPA and Minnesota law. 

Good Faith Estimate & Truth-In-Lending (3.75 hours)

In this informative and hands-on course, you will learn why the Good Faith Estimate and Truth-In-Lending disclosure statements go hand-in-hand, and how to read, understand and explain these disclosures to your borrower.  Course attendees will learn, line-by-line, how to complete a clear, accurate and compliant Good Faith Estimate and Truth-In-Lending disclosure, how to calculate and accurately explain the Annual Percentage Rate (APR), and much more.

Affordable & Fair Housing (3.75 hours)

MN-Pro’s Affordable & Fair Housing is a highly interactive course for individuals who want to understand how federal, state and local housing agencies work together to address community housing needs. The course is designed to educate participants about the relevant federal and state laws concerning the sustainability of affordable homeownership, including the Community Re-investment Act and other Fair Housing requirements.  Learn about using FHA & VA down-payment assistance, the value of land trusts and what funds your clients qualify for after the closing.

Education and Networking Opportunities

Questions & Coffee Roundtable

The Questions & Coffee roundtable is a relaxed, informal setting where you can meet regularly with your peers to network and exchange ideas, your successes, and your challenges.  Questions & Coffee provides a forum for you to ask and answer questions, float a novel idea or concept, and give and receive valuable feedback with other professionals who are your colleagues in the industry and your prospective business referral partners.  With Questions & Coffee, we also seek to provide ongoing accountability to make sure you are applying what you’ve learned in our seminars and workshops, and will offer helpful tips to keep you grounded and focused on your goals.  Because this event is free and open to all who are interested, spaces will fill up very quickly, so please register early to reserve your spot!   

Mortgage Professionals Alliance Events

If you haven’t yet attended a Mortgage Professionals Alliance event, be sure to look for information on our website calendar for upcoming events.  MPA events are held on a quarterly basis and are offered free of charge or at minimal cost to attendees.  You can expect to hear excellent speakers on variety of different topics of interest, enjoy complimentary food, and outstanding networking opportunities.  For more information on the Mortgage Professionals Alliance, and for information on past and upcoming MPA events, click here.