MBA (5/8/2008 ) Stokes, Aleis
CampusMBA, the education arm of the Mortgage Bankers Association, announced it has launched a strategic educational offering focusing on Federal Housing Administration (FHA) loan guidance for Troy, Mich.-based Flagstar Bank.
The largest publicly held savings bank headquartered in the Midwest with more than 165 banking centers in Michigan, Indiana and Georgia, Flagstar enlisted CampusMBA to provide assistance in meeting one of its key initiatives—to increase and successfully manage its surging FHA business.
"By leveraging CampusMBA and its robust FHA Central curriculum, Flagstar Bank is ensuring that its underwriters and processors gain a comprehensive knowledge of FHA and VA loans," said Flagstar Vice President Diana Wallace. "As FHA loans continue to become a larger portion of our loan portfolio and a more integral part of our everyday origination business, it's crucial that our staff be able to competently and confidently provide FHA options both for first-time homebuyers and homeowners looking to refinance into more affordable loan products."
Flagstar Bank has seen its FHA loan volume increase substantially over the past six months. Similarly the industry has seen a huge jump in government, mostly FHA, loan applications which are up 170 percent year-over-year according to MBA's Weekly Applications Survey (as of week ending May 2).
"CampusMBA is thrilled to have the opportunity to work closely with Flagstar's exceptional staff to help them gain the knowledge they need to meet business objectives in the face of surging FHA business," said MBA Senior Vice President of Education John Golden. "It's vital that organizations fully capture FHA's growing market share while grooming staff from an educational perspective, as Flagstar is demonstrating. By doing so, organizations will grow their business, better serve their customers and improve their position in the marketplace."
CampusMBA's educational partnership with Flagstar will implement through its Enterprise Training arm, an all-encompassing and customized program designed to fit the overall needs of an organization by drilling down to train its staff. Enterprise Training can include any of CampusMBA's established certification and designation programs, which include those in residential underwriting, loan origination, servicing, regulatory compliance, quality assurance and commercial servicing. Additionally, general education programs are offered for all levels of experience and industry expertise in both commercial and residential real estate finance.
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