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Eastern Caribbean Home Mortgage Bank (ECHMB), in collaboration with the Real Estate Institute of Canada (REIC), has been involved for the past nine years in training programmes for officers who are involved in the decision-making, lending, and administration of mortgages in their institutions, and those who are expected to be so involved.
The training programmes cover major issues that are likely to impact on the efficiency of the mortgage underwriting process and servicing practice, including the processing of land titles, development and land use planning, structural integrity of buildings, property valuation, risk management and credit scoring. It also demonstrates how primary lenders can generate increased financial value, while minimising risk, by undertaking business in the secondary mortgage market.
The programme is carried out in three (3) Modules, over an eighteen (18) months period, generally at six (6) months’ intervals. It is not necessary that participants should enter the programme in ordinal sequence. Each Module is conducted over a period of one week, after which the participants are expected to complete a “Take Home Assignment” to be submitted within a month for grading by REIC. At the end of successful completion of all three modules participants will be equipped with a level of training, in partial fulfillment of the eligibility requirements for accreditation as a Certified Residential Underwriter (CRU), a professional standard recognised throughout the mortgage finance industry and stands out as a mark of professionalism.
In 2009 ECHMB hosted two (2) Mortgage Underwriter Programme. One in Grenada in April and another in Dominica in October. We have just concluded Module 1 in St Vincent and the Grenadines in May 2010 and are in the process of organizing Module 2 to be held in Anguilla in November 2010.
The modules are as follows:
Module 2
REIC 2341: Property Risk Assessment, Credit & Electronic Underwriting
Invaluable for those working in an underwriting environment with a background in credit and property risk assessment, this Risk Assessment and Real Estate Valuation program also looks at automated underwriting, review appraisals, property value and personal databases.
Module 3 (2 courses)
REIC 2600: Ethics and Business Practice
REIC’s senior level ethics program deals extensively with ethical codes and management issues. Using case studies, group discussions, workshops, and videos, participants will study various real estate ethical codes and will acquire the tools and strategies to maintain strict ethical standards in a business setting.
REIC 2285: Legal Issues in Real Estate - Finance
You will develop the skills of understanding the various legal pitfalls involved in real estate today. It is oriented towards any person who deals directly and negotiates with consumers on mortgages.
For more information on the programme, please contact us at info@echmb.com or call 1-869-466-7869.
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