Genworth U.S. Mortgage Insurance (USMI), a unit of Genworth Financial, Inc., and the Mortgage Bankers Association (MBA) announced that a redesigned training curriculum for CampusMBA’s Certified Residential Underwriter (CRU) Specialist Designation will be available on September 17, 2013, to meet the growing demand for underwriters proficient in evaluating borrowers in today’s rebounding home purchase market.
The CRU is the only specialized mortgage industry designation that signifies mastery of the specific skills needed to underwrite residential mortgages. Participants who complete the courses learn tangible skills to increase accuracy in underwriting, which contributes to reduced error rates, improved risk management, greater productivity and better loan quality for the mortgage industry. In addition, participants who successfully complete the course learn about the latest laws, regulations and issues regarding fraud and regulatory compliance.
Each level of the CRU curriculum – Basic, Intermediate and Advanced – represents at least 50 hours of coursework, with each level requiring successful completion of a comprehensive exam. Participants must complete a total of 15 required courses to achieve the CRU Specialist Designation. Every Genworth USMI underwriter has completed the three levels of the CampusMBA training course and attained the CRU designation.
“Genworth USMI has been the exclusive partner with CampusMBA in developing and updating these courses since their introduction in 2006,” said Joanne Rehm, director of training at Genworth USMI. “We’re pleased to offer our innovative, award-winning training expertise to support efforts to improve the skills of industry professionals and help lenders respond to evolving mortgage market needs.”
“Completion of each level of the CRU course denotes a high standard of learning that helps organizations and the mortgage industry reach a higher level of effectiveness, efficiency and competence,” said Jeff Schummer, vice president, research and education at MBA.
New and substantially redesigned course content includes information on: the foundations for thorough underwriting; best practices in understanding and analyzing personal and business tax returns; regulatory compliance in loan origination; and detecting mortgage loan fraud, including a focus on current fraud trends, new legislation, and recent court cases.