Last fall, after Rhode Island’s economy shed thousands of jobs, RIM(BA) launched a mortgage processing course to give students a foundational understanding of loan production, underwriting, secondary marketing, warehousing, and servicing. The course is training the next generation of mortgage operations personnel to meet local industry demand. Forty-two students have completed the course to date.
Through the course, workers who lost their jobs are finding hope in a new career path.
As one of the students, Lauren Hanson shared her experience: “It just opened up an entire new world. It did really lift me up to give me hope for a future career and for something solid and stable.”
Some students previously worked in the restaurant, hospitality, or travel industries, which have been decimated by the pandemic. One student was Erica Hanley, a former business development representative for a travel operator who was laid off after the pandemic shut down domestic and international travel. “This program has made me realize that I can do a lot more,” Hanley said after completing the course.
It is the intent of RIM(BA) to connect workers who are looking for new opportunities to an industry that needs them. Students who complete the mortgage processing course at CCRI will be ready to take the Nationwide Mortgage Licensing System (NMLS) test, which would allow them to become licensed loan originators upon passage of the exam. A number of RIM(BA) members have also made a commitment to hiring qualified graduates who have completed the program.
The Rhode Island Mortgage Bankers Association is dedicated to promoting and sustaining responsible home lending in Rhode Island. The mortgage association has over 90 corporate members, which represent thousands of mortgage lenders throughout the state who help businesses and people secure mortgages. As part of its overarching plan to create a better housing market, RIM(BA) regularly promotes educational initiatives, addresses legislative challenges, and strives to cultivate membership growth. For more information about RIM(BA), visit: www.rimba.org.