|
Flagstar Bank Enlists CampusMBA To Deliver Key FHA Business Initiative
By James Comtois
CampusMBA, the education division of the Mortgage Bankers Association, has launched a strategic educational offering focusing on Federal Housing Administration loan guidance for Troy, Mich.-based Flagstar 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 - 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 Diana Wallace, vice president for Flagstar. "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% year-over-year according to MBA's Weekly Applications Survey (as of the week ending May 2).
"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," said John Golden, MBA's senior vice president of education.
CampusMBA's educational partnership with Flagstar is being accomplished 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 core resource, its staff.
Enterprise Training can include any of CampusMBA's well-established certification and designation programs, which include those in residential underwriting, loan origination, servicing, regulatory compliance, quality assurance, as well as commercial servicing.
Additionally, general education programs are offered for all levels of experience and industry expertise in both commercial and residential real estate finance.
More subprime news
| 
