Course Outlines

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FNCS1114 – Consumer Lending pdf

Credits: 3 (2/1/0)
Description: This course covers the fundamental procedures used by consumer lenders in making lending decisions. The student will perform loan interviewing, credit investigation, loan pricing and the preparation of documents for consumer loans. Students will develop notes, security agreements, contracts and other supporting credit documents. Topics will include consumer loan servicing, credit products, marketing, loan documentation, loan portfolio management, lien searches and the functions of the Uniform Commercial Code.
Prerequisites: (None)
Corequisites: (None)
Competencies:
  1. Apply current regulations to lending practices.
  2. Demonstrate quality principles and standards that facilitate exceptional customer service and relationship building.
  3. Prepare all consumer loan documents from pre-qualifying loan application to loan closing.
  4. Evaluate consumer borrowing needs to effectively recommend loan products.
  5. Compare and contrast various consumer loan products including unsecured, secured and lines of credit.
  6. Calculate equity as it applies to home equity loans.
  7. Apply consumer lending underwriting standards and loan policies to determine credit worthiness of an application.
  8. Demonstrate ability to use asset valuation sources to determine loan value for collateral purposes.
  9. Apply all fair debt collection practice regulations when attempting to collect past due loans to assure consumer rights are not violated.
MnTC goal areas: (N/A)

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