Mortgage Loan Brokering and Lending

The Mortgage Loan Brokering and Lending Certificate program is designed to provide students with basic skills to obtain entry-level employment in mortgage companies, financial institutions, and related firms. Students will learn the systematic process of initiating a preapproval and prequalification letter to final loan approval and funding of the loan.

Program Goals

The Mortgage Loan Brokering and Lending Certificate program is designed to provide students with basic skills to obtain entry-level employment in mortgage companies, financial institutions, and related firms. Students will learn the systematic process of initiating a preapproval and prequalification letter to final loan approval and funding of the loan. 

Students who complete the program will be able to:

• Apply real estate principles to determine the type of loan vehicle for the identified property (residential loans, commercial loans, construction loans) including first time home buyers programs through the Federal Housing Administration (FHA).

• Demonstrate an understanding of the mortgage underwriting process. 

• Understand common mortgage products, programs and procedures.

• Demonstrate an understanding of the preapproval and prequalification process.

• Demonstrate an understanding of the primary and secondary mortgage markets including familiarity with Government Sponsored Entities (GSE’s) such as the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, commonly referred to as Fannie Mae and Freddie Mac.

• Demonstrate a familiarization with lending laws including Regulation Z, usury laws, disclosure requirements, maximum fees and charges allowed under governing laws, agency relationships, advertising laws, and the ethical obligations that accompany a real estate mortgage loan broker in these aspects.

Program Objectives

The program will provide students with the knowledge and skills to:

• Prepare loan pre-approval and pre-qualification documentation for real property acquisition.

• Request financial verification data from various sources of income for buyers in the loan approval process.

• Evaluate the creditworthiness of applicants and eligibility for obtaining a mortgage loan.

• Demonstrate the ability to screen loan applicants through an interview process to determine the types of loans an applicant may qualify for.

• Inform clients about loan approvals or denials and be able to explain the process of building credit for loan qualification purposes.

• Monitor and report loan application processes by shopping a loan application to wholesale lenders.

• Prepare an entire mortgage loan file from inception to completion by using industry standard transactional documents.

El Camino College’s real estate program is one of the oldest programs at the college. The department has a strong reputation of producing high-quality students with the knowledge, skills, and abilities to succeed in the industry. Over the last two decades, with the expansion of the internet, many private schools began offering real estate courses entirely online, which meet the state requirements. However, El Camino College has the expertise and reputation to provide a superior alternative to those private programs.

Based on the Real Estate Department's 2019 program review, El Camino College has seen increasing enrollment in our real estate courses over the last five years. The department had an all-time high of 453 enrolled students in the 2018-2019 academic year. For comparison purposes, the 2014-2015 academic year reflected an enrollment of 230 students. El Camino College’s real estate program ranks sixth in the entire state based on enrollment numbers, and is only 88 students shy of ranking first in the state.

While department enrollment has grown, the program offerings have remained static. Based on our program review, our current offerings do no fully align with the industry and the demand for fully qualified real estate professionals. The department has only offered one associate degree and two certificate programs, which have not been aligned to changes in the industry or adjusted to meet the strong labor demand for real estate professionals.

Currently, there is high demand for entry-level to middle-skilled level real estate professionals.  The Los Angeles/Orange County Center of Excellence for Labor Market Research recently indicated that the labor market demand for the real estate industry is not being met by the current supply of community college programs. Based on the COE data, the department’s advisory committee recommended that the department expand the number of certificates offered in the program to add eight new specialized certificates to better prepare students for future careers in various real estate specializations.  

This Certificate of Achievement – Mortgage Loan Brokering and Lending, will prepare more students for real estate specialization positions and help meet the labor demand in the region.  This certificate is part of the greater expansion of the real estate program at El Camino College.  In addition, this certificate will support students who aspire to become real estate professionals by encouraging them to continue their education and obtain specialized certifications.

This program has been endorsed by the COE.