2 Hour SAFE Nontraditional: TRID Requirements for Nontraditional Loans (OSP)

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$44.00
2 Credit Hours

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While the majority of consumers apply for 30-year fixed-rate loans, there are those who need nontraditional options. This course offers a description of a loan originator’s transaction with a consumer who has a short-term interest in a home that she is purchasing. Recognizing that a nontraditional product may best meet the consumer’s needs, the originator faces the challenges of satisfying TRID Rule requirements that only apply to transactions for nontraditional mortgages. This course will also provide an overview of options that may be available in the nonconventional mortgage market when nontraditional loan options in the conventional market are limited. Finally, the course will describe some of the products that lenders are currently offering in the nontraditional mortgage market, such as nonqualified mortgages and bank-statement loans.

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