Site Loader
Rock Street, San Francisco

The duty of care involved

o  
Discrete,

We Will Write a Custom Essay Specifically
For You For Only $13.90/page!


order now

o  
Trustworthy,

o  
Professional,

o  
Legal obligation,

o  
To a standard,

o  
Without negligence,

o  
Responsible,

o  
Moral.

Duty of care is basically just be kind and helpful towards
another.

Task 4 – M2

1.     
Meet with your loan officer – for pre-qualification.

2.     
Complete your loan – submit documents to complete the
loan.

3.     
Review loan – review loan disclosures from first united
bank.

4.     
Home appraisal – appraisal ordered.

5.     
Submit underwriting – first united submits documents to
underwriting.

6.     
Approval – loan is approved.

7.     
Set up insurance – set up insurance.

8.     
Documents are sent

9.     
Sign documents – sign and pay final cost.

10.  Welcome
home – loan recorded and keys are exchanged.

 

 

Task 5 – M3

Professionals involved in property Mortgages is Mortgage Adviser (Bank or
Building Society) Cemap and Independent Mortgage Advisers. Cemap.

Mortgage Advisors

The Certificate in Mortgage Advice and Practice (CeMAP)
is a QCF Level 3 UK specific qualification for mortgage advisers offered by the
Institute of Financial Services (the professional body of Ifs University
College) which meets the standards required by the Financial Conduct Authority
to practice. For those looking
to work as a mortgage advisor, there’s one qualification that you
just can’t do without: CeMAP or the Certificate in Mortgage Advice and
Practice. Accredited by the Qualifications and Curriculum Authority (QCA) and recognized
by the Regulator as an appropriate qualification, CeMAP is the industry benchmark
and all mortgage advisors are required to have one.

To complete
the course you have to do CeMAP 1 CeMAP 2 CeMAP 3.

What do
you study?

n  The qualification is broken down
into three separate exams:

n  CeMAP 1 – UK Financial Regulation

 

CeMAP 1

n  This course will give you an
overview of the financial services market. There are two units, unit one is all
about tax, investments, savings and pensions as well as mortgages, unit two
covers regulation on everything from money laundering to data protection.

n  Because the subject is so broad many
students find this exam the hardest. There are 50 multiple-choice questions on
each paper and you need a pass rate of 70%.

CeMAP 2 –
Mortgages
CeMAP 3 – Assessment of
Mortgage Advice Knowledge

Both of
these exams cover both the same subjects, so they are both usually studied and
assessed at the same time. The first one is divided into 4 subject’s mortgage
law, applications, repayments and issues post-completion. Whilst they are both can
be chosen more than ones, CeMAP 3 involves assessing case studies.

Some People
who have taken the exams say “they are similar in difficulty to A level.”

Many people
worry about the amount of math’s they’ll need to do to take the CeMAP
qualification. In reality, it’s mostly just adding and subtracting witch is
easy to do and with some percentages and division – nothing too difficult for
those who have Math’s GCSE. So it will not be hard to do at all.

 

Post Author: admin

x

Hi!
I'm Dora!

Would you like to get a custom essay? How about receiving a customized one?

Check it out