NAMP CMLP case studies
NAMP CMLP · Put your knowledge to work in context.
The National Association of Mortgage Professionals® (NAMP) is a membership association listing an Irvine, California address that describes its purpose as "Empowering Mortgage Professionals by Highlighting their Mortgage Education and Commitment to Ethics." Its public materials emphasize continuing education, ethical conduct, member savings on technology, marketing and education, market-trend data, a newsletter called MortgageM Power, and nationwide networking. The CMLP credential sits inside that education-and-ethics framework: it is aimed at mortgage loan originators who want to demonstrate command of origination practice, regulation, products, underwriting and settlement. The NAMP CMLP case studies are 5 cases and about 2,663 words.
1Pre-Approval Letter Inflation and an Undisclosed Lease
You are a licensed mortgage loan originator at a small brokerage. A realtor, Derek, sends you a purchase client, Maya, who is preapproved for 480,000 based on verified salary of 78,000, a 704 score, and a 43% DTI.
583 words, about 3 min2Closing Disclosure Timing and Fee Tolerance in a Purchase
On Monday, September 9, 2024, you take a completed application for a purchase loan. You issue the Loan Estimate on Thursday, September 12.
533 words, about 3 min3VA Entitlement and a Condo Project That Is Not VA-Approved
Your borrower is a veteran who receives VA disability compensation at the 10% rate. He has an existing VA loan of 180,000 on a condo that he now rents out; that loan remains outstanding.
512 words, about 3 min4S-Corporation Income with a Declining Year and PPP Forgiveness
Your borrower owns 100% of an S-corporation. The 2023 and 2024 returns show: 2023 W-2 wages 45,000, K-1 ordinary income 70,000, depreciation 10,000, business use of home 3,600, and PPP loan forgiveness of 15,000 included in ordinary income.
496 words, about 2 min5Refinance Closing with a Changed CD, a Judgment, and a Defective Power of Attorney
Your borrower is refinancing her primary residence to consolidate credit card debt. The Closing Disclosure was delivered on Monday, and closing is scheduled for Thursday.
539 words, about 3 min