The duty of care involved
To a standard,
Duty of care is basically just be kind and helpful towards
Task 4 – M2
Meet with your loan officer – for pre-qualification.
Complete your loan – submit documents to complete the
Review loan – review loan disclosures from first united
Home appraisal – appraisal ordered.
Submit underwriting – first united submits documents to
Approval – loan is approved.
Set up insurance – set up insurance.
Documents are sent
Sign documents – sign and pay final cost.
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.
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.
the course you have to do CeMAP 1 CeMAP 2 CeMAP 3.
n The qualification is broken down
into three separate exams:
n CeMAP 1 – UK Financial Regulation
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 –
CeMAP 3 – Assessment of
Mortgage Advice Knowledge
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.
who have taken the exams say “they are similar in difficulty to A level.”
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.