The Eastern Caribbean Home Mortgage Bank (ECHMB) in collaboration with the Real Estate Institute of Canada (REIC) has been conducting Training Seminars in Mortgage Underwriting for the past nine (9) years. Those Seminars bring together mortgage-lending officers from participating member countries of the OECS and Barbados.
ECHMB is pleased for the interest shown by lending institutions at those Seminars, which are conducted in three (3) Modules over a period of eighteen (18) months. It is not necessary that participants enter the program in ordinal sequence. The Modules are as follows:
Module 1: (REIC 2340) - Mortgage Lending for Residential Housing
Module 2: (REIC 2341) - Electronic Application of Mortgage Underwriting and Credit Scoring
Module 3: (REIC 2600) - i. Ethics and Business Practices
(REIC 2285) - ii. Registration and Default Management
Details of the Training Program
The Training Program covers 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 minimizing risk, by undertaking business in the secondary mortgage market. At the end of the three- (3) modules, participants are equipped with a level of training, in partial fulfillment of the eligibility requirements for accreditation as a Certified Residential Underwriter (CRU). This designation represents a professional standard recognized throughout the mortgage finance industry and signifies an individual’s superior knowledge, understanding and expertise in mortgage business and stands out as a mark of professionalism.
To date over fifty(50) Participants have met the eligibility requirements for Accreditation. These Participants can attest to the ongoing relevance of the Program, both to the individual seeking to enter the mortgage lending industry, and to the institutions that recognizes the value of upgrading the proficiency and professionalism of their staff.
Facilitators
The facilitators for the program industry experts and consultants engaged by the Real Estate Institute of Canada (REIC). In addition, regional experts are invited to make presentations on relevant subject areas in order to bring the Caribbean perspective on topics related to the mortgage industry.
