Module 1 of the Eastern Caribbean Home Mortgage Bank (ECHMB), in association with the Real Estate Institute of Canada (REIC), Mortgage Underwriting Course was held at Beachcomers’ Hotel in St. Vincent & the Grenadines during the week of November 13th to 17th, 2017.
Module 1: REIC 2340 - Mortgage Lending for Residential Housing covered the following areas:
· The nature and loss and risk in mortgage lending;
· Hazards in mortgage lending;
· Safeguards in mortgage lending;
· Underwriting the mortgage loan; and
· Special cases in underwriting mortgage loans.
There were 20 participants, representing 16 institutions, from the following countries:
· Antigua & Barbuda (1 participant);
· Grenada (6 participants);
· Montserrat (1 participant);
· St. Kitts and Nevis (5 participants);
· St. Lucia (3 participants);
· St. Vincent & the Grenadines (4 participants).
The institutions represented were from following Economic Sectors: Building and Loan Associations, Credit Unions, Development Banks and Commercial Banks.
The Mortgage Underwriting Course is conducted over three (3) modules, during an eighteen (18) month period, and provides training on major issues that are likely to impact on the efficiency of the mortgage underwriting processes and servicing practices.