Mortgage Banking: Loan Originator / Loan Solicitor Exam Study Guide

• Federal mortgage-related laws
• General Mortgage Knowledge
• Wisconsin Statutes Pertaining to Mortgage Banking
• Other informational sources

Federal mortgage-related laws

1. Fair Housing Act:
   http://www.usdoj.gov/crt/housing/title8.htm
2. Equal Credit Opportunity Act:
   http://www.usdoj.gov/crt/housing/ecoa.htm
   http://www.federalreserve.gov/regulations/default.htm#b Click on Regulation (GPO)
3. Home Mortgage Disclosure Act:
   http://www.fdic.gov/regulations/laws/rules/6500-3030.html
   http://www.federalreserve.gov/regulations/default.htm#c Click on Regulation (GPO)
4. The Home Ownership Equity Protection Act:
   http://www4.law.cornell.edu/uscode/html/uscode15/usc_sec_15_00001601----000-.html
   http://www.federalreserve.gov/regulations/default.htm#z Click on Regulation (GPO) Click on ¶226.32
5. Truth-in-Lending Act:
   http://www4.law.cornell.edu/uscode/html/uscode15/usc_sec_15_00001601----000-.html
   http://www.federalreserve.gov/regulations/default.htm#z Click on Regulation (GPO)
6. Real Estate Settlement Procedures Act (RESPA):
   http://www.hud.gov/offices/hsg/sfh/res/respa_st.cfm
   http://www.hud.gov/offices/hsg/sfh/res/respareg.cfm
7. Fair Credit Reporting Act:
   http://www.ftc.gov/os/statutes/fcrajump.htm

General Mortgage Knowledge

1. Federal National Mortgage Association (FNMA/Fannie Mae) guidelines
   http://www.fanniemae.com/index.jhtml
2. Government National Mortgage Association (GNMA/Ginnie Mae) guidelines
   http://www.ginniemae.gov/
3. Federal Home Loan Mortgage Corporation (FHLMC/Freddie Mac) guidelines
   http://www.freddiemac.com/
4. Federal Housing Authority (FHA)
   http://www.fha.gov
5. Veterans Administration (VA)
   http://www.homeloans.va.gov (Federal level)
   http://www.dva.state.wi.us/ (State level)

Wisconsin Statutes Pertaining to Mortgage Banking

1. Chapter 138, ss. 138.052 and 138.056, Money and Rates of Interest
   http://www.wdfi.org/fi/mortbank/statutes.htm
2. Chapter 224, Subchapter III: Mortgage Bankers, Loan Originators, and Mortgage Brokers
   http://www.wdfi.org/fi/mortbank/statutes.htm
3. Chapter 428, Subchapter II, Responsible High Cost Mortgage
   http://www.wdfi.org/fi/mortbank/statutes.htm
4. DFI-Bkg Ch. 40: Definitions and applicability requirements for mortgage banking regulation
   http://www.wdfi.org/fi/mortbank/statutes.htm
5. DFI-Bkg Ch. 41: Fees and registrations for mortgage bnakers, loan originators and mortgage brokers
   http://www.wdfi.org/fi/mortbank/statutes.htm
6. DFI-Bkg Ch. 42: Mortgage banking audit reports and trust accounts
   http://www.wdfi.org/fi/mortbank/statutes.htm
7. DFI-Bkg Ch. 43: Ethical and Competent Practice by Mortgage Bankers, Loan Originators and Mortgage Brokers
   http://www.wdfi.org/fi/mortbank/statutes.htm
8. DFI-Bkg Ch. 45: Education and Examination
   http://www.wdfi.org/fi/mortbank/statutes.htm
9. DFI-Bkg Ch. 46: Responsible High-Cost Mortgage Lending
   http://www.wdfi.org/fi/mortbank/statutes.htm

Other informational sources

1. Mortgage Bankers Association of America
   http://www.mbaa.org
2. National Association of Mortgage Brokers
   http://www.namb.org/namb/Default.asp
3. Wisconsin Association of Mortgage Brokers
   http://www.wambrokers.com
4. Wisconsin Mortgage Bankers Association
   http://www.wimba.org
5. Wisconsin Housing and Economic Development Authority
   http://www.wheda.com/