Have you daydreamed about becoming a mortgage broker? Or are you already a mortgage broker and you’d like to increase your knowledge base?
There are a variety of ways to obtain that knowledge. You can pick up finance books to help you. But similar to learning about the stock market through stock market books, sometimes it’s better to get new information from industry experts.
That’s where online classes come in. Online classes can provide all the information you’re looking for despite your busy schedule. Don’t let a perceived lack of time stop you from furthering your education. After all, any professional can benefit from continued education.
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Best Mortgage Broker Courses
- Financial Markets by Coursera – Get this course
- The U.S. Residential Mortgage Business by Udemy – Get this course
- Documentation in Project Finance by edX – Get this course
- Customer Service: Problem Solving and Troubleshooting by Lynda – Get this course
- Loan Officer Training – How I Reached 60 Closings in a Month by Udemy – Get this course
- Mortgage Backed Securities (MBS): Part I by edX – Get this course
- Credit Repair from a Financial Institution by Udemy – Get this course
- Mortgage Fraud Prevention & Detection by Udemy – Get this course
- Leadership Assessment & Development by Udemy – Get this course
What Does a Great Mortgage Broker Course Look Like?
If you do a quick online search, you may see that you can choose from dozens of mortgage broker classes, but a truly great class depends on you and your own priorities. Check out the points below to prioritize your considerations:
Single online courses are generally cheaper than traditional tuition-based classes. With these, you don’t have to contend with an enrollment process. Prices may vary depending on where you take the class and the duration of the class.
Sure, you can find some courses that you can audit for free. However, if you need a certificate of completion to add to your resume, you may need to pay a fee. If you don’t find a class within your price range, keep looking. Periodic sales may make that pricy class a possibility if your timing is right.
Instructor’s Knowledge or Reputation
Some classes are taught by industry experts. Others are sponsored by traditional colleges. However, many online course platforms aren’t picky about instructors, so it’s up to you to be choosy.
Ask important questions like, “What can I learn from this person?” and “What makes her qualified to teach me?” These questions can save you a lot of trouble in the long run.
Also, check out what past students have said about the class design as well as the instructor style. Your new instructor may have all the knowledge you need, only to deliver the material in a way that’s hard to understand.
Specific Skills Taught
Furthermore, it may be difficult to find classes specifically for your topic. However, that doesn’t mean you can’t take an online course. Find classes that increase your understanding in areas that can supplement your skill set.
Don’t be afraid to check out the syllabus or preview video before you sign up for your new course. Can you use the skills that the course will teach you? If not, it’s okay to keep looking. Your time is valuable, so make sure you’re learning exactly what you need to prior to signing up for the course.
The Best Mortgage Broker Courses
Do you have a good idea of what would make a good course for you? It’s time to check out some of the best ones online. If you find that your skill set falls between two levels, try opting for an “all levels” class that allows you to skip forward or back to exactly what you need.
Best Mortgage Broker Courses for Beginners
Here are our top picks for students who are just starting their mortgage broker journey.
1. Financial Markets by Coursera
- Who’s It For? Beginners
- Price: Free, or $29 with a certificate
Whether you are new to finance or a veteran, learning about financial markets is integral. This course from Coursera is presented by Robert Shiller, a Sterling Professor of Economics at Yale University. In this course, he gives students an overview of various ideas, methods, and principles of the financial world.
This beginner-level course is 38 hours long with flexible deadlines. It’s also completely online so you can take a Yale-sponsored class from the comfort of your own home.
2. The U.S. Residential Mortgage Business by Udemy
- Who’s It For? Beginners
- Price: $49.99
Learn about the ins and outs of the U.S. mortgage business with this course. Learn about various intricacies of the loan process including originating, servicing, and valuing a mortgage. Also, learn about what companies look for when deciding creditworthiness. If you’re looking for a course that teaches you more about the mortgage industry, this one is a good option.
The entire class is approximately 7.5 hours long with 25 downloadable resources. In addition, the Udemy fee includes full lifetime access and a certificate of completion. Furthermore, the class is backed by a 30-day money-back guarantee.
3. Documentation in Project Finance by edX
- Who’s It For? Beginners
- Price: $189
As a mortgage broker, you’ll handle various document types. The introductory course “Documentation in Project Finance” is designed to help you understand documents and contracts. These include finance projects, loan syndication and rating agency processes.
Keep in mind that this is part of a Professional Certificate Program offered by edX, so it may be pricier than the average class. You also need prior knowledge of corporate finance and credit analysis before enrolling in this class. It’s sponsored by the New York Institute of Finance.
Best Intermediate Mortgage Broker Courses
These classes are best for learners with a basic set of skills that they can build on.
1. Customer Service: Problem Solving and Troubleshooting by Lynda
Who’s It For? Intermediate students
Price: One-month free trial, $29.99 month-to-month or $24.99 per month (annually)
Mortgage brokers deal with more than finding lenders. Relationships with clients are also paramount to the business. “Customer Service: Problem Solving and Troubleshooting” can help you hone your people skills when the loan process doesn’t go smoothly. Topics include learning how to disarm and redirect unhappy customers, diagnosing a problem and how to respond to complaints.
Instructor Noah Fleming is an author and speaker who’s provided coaching and consulting services to many big companies. Learn from his experience on how to grow your business and cultivate customer relationships in this 32-minute course.
2. Loan Officer Training – How I Reached 60 Closings in a Month by Udemy
- Who’s It For? All Levels
- Price: $194
Not just for loan officers, this course can help you expand your brand and create leads. One of the most important qualities of being a mortgage broker isn’t your technical skills. It’s generating leads. This course can teach you how to do that with realtors.
The course is approximately 2.5 hours long and also includes articles, resources, and an audio clip to help you on your way. You do need access to a computer and cellphone to take the class. You’ll receive a certificate of completion and full lifetime access when you complete the course.
3. Mortgage Backed Securities (MBS): Part I by edX
- Who’s It For? Intermediate students
- Price: $450
Another course offering from edX, this one’s for you if you need to brush up on your knowledge of mortgage-backed securities (MBS). As part of the edX professional certificate program for MBS, this course gives you a wealth of information about MBS and different mortgage-related vocabulary.
The course takes approximately four weeks to complete with a commitment of two hours per week. Unlike other edX courses, though, this one is not available to audit for free. However, you can take this class individually without signing up for the professional certificate program.
Best Expert-Level Mortgage Broker Courses
These classes are for students with a strong foundational set of mortgage broker skills that are ready to take their career to the next level.
1. Credit Repair from a Financial Institution by Udemy
- Who’s It For: Advanced
- Price: $19.99
As a mortgage broker, you may have encountered clients who have less-than-stellar credit ratings. This course helps you understand the credit industry from a financial institution perspective for your non-prime and zero credit customers.
Learn what clients can do to boost their credit. This course will teach you how to suggest other options if you have to tell them bad news about their loan application. This short class includes 2.5 hours of video and five downloadable resources.
2. Mortgage Fraud Prevention & Detection
- Who’s It For? All Levels
- Price: $39.99
Learn how to detect and prevent mortgage fraud with this course from Udemy. The class includes topics like fraud trends and current schemes, including identity fraud and short sale flops. Instructor Chip Cummings also helps students recognize “red flags” and other warning signs on applications and documents.
In addition, you also receive a bonus state-by-state identification and resource guide just for signing up. Like many other Udemy classes, you receive full lifetime access to all the content including any future updates. You also receive a certificate of completion to boost your resume, should you need it.
3. Leadership Assessment & Development by Udemy
- Who’s It For? Advanced
- Price: $44.99
Technical courses like investing courses aren’t your only option when it comes to online education. Leadership classes like this “Leadership Assessment and Development” course can help you develop a work culture that promotes team coherence, profitability, and personal growth.
Instructor Joni Carley is a professional consultant and co-author of “Stepping Stones to Success, vol.1” with Deepak Chopra and Jack Canfield. She uses her expertise and experience to help students assess leadership in their organization and leverage invisible drivers to promote success.
Because Udemy includes lifetime full access to all the content, feel free to retake and revisit this model for leadership at different stages of your career.
Online classes can help you increase your knowledge base. They can also help boost your resume, help you transition into another position and even help complete school assignments. Course topics range from technical and professional knowledge to personal growth so there’s always something new to learn at any stage in your life.
Best of all, you don’t have to worry about clearing your busy schedule to accommodate a class. Many are affordable and flexible so that you can complete one on your own time.
Don’t settle for another book when you can take an interactive course in that same amount of time. Contact with your instructor and fellow students can make the experience more enriching than learning alone.