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2 Hour SAFE: VA Home Loans

Course Syllabus

Welcome to our SAFE VA Home Loans course. We are excited to assist you in furthering your
mortgage career and are pleased you chose Praedo Institute to satisfy your continuing
education requirements.

Course Purpose
This course is approved as two hours of CE elective credit. This course does not contain any
state-specific continuing education.

Course Description
Our VA Home Loans course focuses on the introduction of the VA Home Loan benefit, eligibility
for the benefit and unique requirements and policies associated with originating VA-guaranteed
loans.

Course Dates and Times


This course is offered for the 2017 license renewal period. In order to ensure timely reporting
to NMLS, this course must be completed by December 19, 2017 to meet their smart renewal
deadline. If you complete this course after December 19, 2017, we cannot ensure that it will be
reported in time for an on time renewal. PLEASE NOTE: This course expires on December 31,
2017 and will not be available to complete after this date.

Course Objectives
Upon completing this course, you should be able to do the following:
Better understand the VA Home Loan Benefit;
Understand the differences in loan authority granted to lenders;
Learn to identify eligible veterans;
Learn the general process options for obtaining a Certificate of Eligibility; and
Review unique VA policies and guidelines.

Grading Policy
The course consists of slides mixed with comprehension questions. Each individual quiz
question is timed. If you do not answer the quiz question within the allotted time, the course
will time out. At this point, you will be redirected to your dashboard and upon re-opening the
course, you will be required to repeat the section prior to the quiz question.
At the end of the final part, you will be required to take and pass a final exam. This course is
timed as a two hour course. You must complete the parts, in order, to progress through the
course. You must answer all of the comprehension questions correctly and score 80 percent on
all quizzes and tests to receive credit for the course. You may retake course quiz questions until
you pass, but you are allowed only 10 retakes of the course final.

Course Policies
Each student is required to submit an Identity Affidavit. By confirming the attestation, the
student certifies that the course work was or will be completed by the person for whom the
certificate will be issued. The student further certifies that they did or will not receive any
assistance in completing the course. The submission of a completion certificate for a course
they did not complete themselves may constitute fraud on the students part and is subject to
prosecution and/or discipline.

Technical Support
As our course is entirely online, we do offer live technical support via telephone, email, and
chat from 8:30am to 5:00pm Mountain Time on regular business days. After hours, holiday,
and weekend support is available 365 days a year via email from 9:00am to 10:00pm Mountain
Time. Our mailing address is 42 North, 200 East, Ste. 3, American Fork, UT 84003. Our
telephone number is 801-492-9933 and our support email is support@praedo.com.

Using our System


Once you purchase the course and are logged into our system, you should see a link to the
course on your home page. This link will launch the course. Please carefully review the
introduction module for instructions on using our online system.

Course Outline
This course consists of two chapters, covering the following topics that apply to the origination
of mortgage loans that are to be guaranteed by the Veterans Administration (VA) on 1-4 unit
Single Family Residences.

VA Home Loans

Introduction: This module will introduce you to our system. Adherence to the advice and
instructions offered in this module will greatly improve your online education experience.

VA Home Loans Chapter 1: Chapter One consists of the following sections:


What is a VA Home Loan?
VA Loan Features
Eligible Loan Purposes
Property Eligibility
Occupancy Requirements
Who has Jurisdiction over the Lender?
Types of Approval Authority Granted to Lenders
Basic Entitlement and the Amount of Loan Guaranty
Who is Eligible for a VA Home Loan
How to Document Eligibility and Entitlement
VA Lender Resources
What is Restoration of Entitlement?
Clearing Loans Listed as Unpaid on the COE
Back-to-Back Closings
VA Guaranty Calculation
Joint Loans
Case Study

VA Home Loans Chapter 2: Chapter Two consists of the following sections:


Maximum Loan-To-Value
Maximum Loan Amount
Funding Fee
Appraisals
Minimum Property Requirements
Refinances
Energy Efficient Mortgage
Credit
Income
Reservists, National Guard & Active Duty Applicants
Helpful Hints for Reviewing the Military LES
VA Education Benefits
Rental Income for 2-4 Unit Properties
Debt to Income Ratio (DTI)
Residual Income
Special Instructions for using Tables
Residual Income Calculation
Power of Attorney (POA)
Alive and Well Status
VA Loan Fees
Seller Concessions
Purchase Agreement Escape Clause
Case Study

VA Home Loans Course Final: 15 question final exam covering all of the material discussed in
the course.

Course Evaluation: Students will be allowed to give feedback regarding the course.

Course Schedule
This course consists of the two chapters outlined below. The requirements for each chapter are
listed with the approximate time needed to complete each learning module. This course meets
the minimum time requirement of 50 seat minutes for each clock hour the course is approved.
This course is approved as a two hour course and must be completed in its entirety in order for
you to receive credit.

Good Luck
Once again, thank you for choosing Praedo Institute. Your success is extremely important to us.
Please let us know if we can be of assistance at any time. Enjoy the course!
Course Outline and Schedule
Instruction Time
Module Reading Assignments Due
Allocation (Minutes)
Introduction Instructions ROC & Attestation 5
VA Home Loans What is a VA Home
Quiz Question 5
Chapter 1 Loan?
VA Home Loans
VA Loan Features Quiz Question 1
Chapter 1
VA Home Loans
Eligible Loan Purposes Quiz Question 1
Chapter 1
VA Home Loans
Property Eligibility Quiz Question 3
Chapter 1
VA Home Loans Occupancy
Quiz Question 2
Chapter 1 Requirements
VA Home Loans Who has Jurisdiction
Quiz Question 1
Chapter 1 over the Lender?
Types of Approval
VA Home Loans
Authority Granted to Quiz Question 1
Chapter 1
Lenders
Basic Entitlement and
VA Home Loans
the Amount of Loan Quiz Question 3
Chapter 1
Guaranty
VA Home Loans Who is Eligible for a
Quiz Question 5
Chapter 1 VA Home Loan?
How to Document
VA Home Loans
Eligibility and Quiz Question 2
Chapter 1
Entitlement
VA Home Loans
VA Lender Resources Quiz Question 4
Chapter 1
VA Home Loans What is Restoration
Quiz Question 2
Chapter 1 of Entitlement?
VA Home Loans Clearing Loans Listed
Quiz Question 1
Chapter 1 as Unpaid on the COE
VA Home Loans
Back-to-Back Closings Quiz Question 1
Chapter 1
VA Home Loans VA Guaranty
Quiz Question 6
Chapter 1 Calculation
VA Home Loans
Joint Loans Quiz Question 1
Chapter 1
VA Home Loans
Case Study Quiz Questions 9
Chapter 1
VA Home Loans Maximum Loan-To-
Quiz Question 2
Chapter 2 Value
VA Home Loans Maximum Loan
Quiz Question 1
Chapter 2 Amount
VA Home Loans
Funding Fee Quiz Question 2
Chapter 2
VA Home Loans
Appraisals Quiz Question 2
Chapter 2
VA Home Loans Minimum Property
Quiz Question 5
Chapter 2 Requirements
VA Home Loans
Refinances Quiz Question 1
Chapter 2
VA Home Loans Energy Efficient
Quiz Question 2
Chapter 2 Mortgage
VA Home Loans
Credit Quiz Question 2
Chapter 2
VA Home Loans
Income Quiz Question 2
Chapter 2
Reservists, National
VA Home Loans
Guard & Active Duty Quiz Question 2
Chapter 2
Applicants
Helpful Hints for
VA Home Loans
Reviewing the Military Quiz Question 1
Chapter 2
LES
VA Home Loans
VA Education Benefits Quiz Question 1
Chapter 2
VA Home Loans Rental Income for 2-4
Quiz Question 2
Chapter 2 Unit Properties
VA Home Loans Debt to Income Ratio
Quiz Question 1
Chapter 2 (DTI)
VA Home Loans
Residual Income Quiz Question 2
Chapter 2
VA Home Loans Special Instructions for
Quiz Question 2
Chapter 2 using Tables
VA Home Loans Residual Income
Quiz Question 2
Chapter 2 Calculation
VA Home Loans Power of Attorney
Quiz Question 1
Chapter 2 (POA)
VA Home Loans
Alive and Well Status Quiz Question 1
Chapter 2
VA Home Loans
VA Loan Fees Quiz Question 3
Chapter 2
VA Home Loans
Seller Concessions Quiz Question 1
Chapter 2
VA Home Loans Purchase Agreement
Quiz Question 1
Chapter 2 Escape Clause
VA Home Loans
Case Study Quiz Question 10
Chapter 2
VA Home Loans Complete Course
N/A 10
Chapter 2 Final
Course Evaluation N/A Evaluation 5