Junior Real Estate Mortgage Loans 
This course will discuss the compliance requirements for closed-end, consumer-purpose loans that are secured by a junior lien on the customer’s home.
1.5 Hour(s)
Learn which compliance documents are needed when a customer seeks a loan to be secured by the equity in his/her home (junior lien mortgage), such as a debt consolidation loan or a home improvement loan.
Be aware of the reasons for these documents and know when they must be provided to the customer.
Know which documents require the customer’s signature.
Know which loans are subject to the right of rescission, understand how to give the customer the right of rescission, and be aware of the consequences of failing to handle the right of rescission correctly.
69B3R4.0
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