REAL ESTATE FINANCE

AGENT COLLEGE

45 hours

COURSE DESCRIPTION

The Real Estate Finance course was designed to be a flexible tool for both novice and professionals alike. We've highlighted essential finance concepts for particular emphasis, bolded definitions within the material for memory enhancement, and included the concise summaries for easy review. Our unique approach clarifies the process of qualifying standards, disclosure requirements, and loan documents, making this the most user-friendly finance course on the market.

PREREQUISITES: None

TYPE OF COURSE:
The course is a home study course in book format taken at the student's convenience. Tests and quizzes are done online. The course is available 24 hours a day, seven days per week.

COURSE OUTLINE:

REAL ESTATE FINANCE

Chapter 1: Then and Now

• Lending in Ancient Times
• Banking in the Renaissance
• The American Colonies
• The Federal Reserve Act of 1913
• The Role of the Federal Government and Government Agencies
• The Future of Money
• Chapter Summary
• Terminology

Chapter 2: Real Estate Cycle and the Secondary Market

• The Real Estate Cycle
• Factors Influencing Real Estate Cycles
• The Role of the Secondary Market
• Agencies of the Secondary Market
• Quality Control
• Chapter Summary
• Terminology
  

Chapter 3: Sources of Funds: The Primary Market

• Traditional Direct Lenders
• Indirect Lenders
• The Role of the Correspondent
• The Role of the Private Investor
• Chapter Summary
• Terminology
  

Chapter 4: The Secondary Market and Federal Credit Agencies

• The Secondary Market
• FNMA and FHLMC
• Federal Credit Agencies
• Chapter Summary
• Terminology

Chapter 5: Federal Regulation and Consumer Protection

• Anti-Discrimination Legislation
• Chapter Summary
• Terminology

Chapter 6: State Regulation of Lending

• Real Estate Laws
• The Rise of Federalism
• The Modern Role of States
• Chapter Summary
• Terminology

Chapter 7: Finance Instruments

• Promissory Notes
• The Deed of Trust (Trust Deed)
• Mortgages
• Real Estate Contracts
• Typical Clauses in Security Instruments
• Chapter Summary
• Terminology

Chapter 8: Overview of the Loan Process

• The Loan Process
• Chapter Summary
• Terminology

Chapter 9: Conventional Financing

• Conventional Loans
• Chapter Summary
• Terminology

Chapter 10: Alternative Financing

• Discount Points
• Buy-Downs Plans
• FNMA/FHLMC Limits on Buy-Downs
• Adjustable Rate Mortgages (ARMs)
• The Growth Equity Mortgage (GEM)
• Reduction Option Mortgage
• Bi-Weekly Loans
• Home Equity Conversion Mortgages (Reverse Mortgages)
• Chapter Summary
• Terminology

Chapter 11: Government Programs: FHA and VA Loans

• Federal Housing Administration (FHA)
• FHA Programs
• VA Loan Guarantees
• Chapter Summary
• Terminology

Chapter 12: Seller Financing

• Purchase Money Mortgage/Trust Deed
• Land Contracts
• Other Forms of Creative Financing
• Broker's Responsibilities
• Chapter Summary
• Terminology

Chapter13: Qualifying the Borrower

• FHLMC/FNMA Underwriting Standards
• Summary of Qualifying the Borrower
• FHA Underwriting Standards
• VA Qualifying Standards
• Chapter Summary
• Terminology

Chapter 14: Qualifying the Property

• The Lender's Perception of Value
• Market Approach
• Cost Approach
• Income Approach
• Understanding the appraisal Process
• Key Considerations to a Residential Appraiser
• Rural and Suburban Homes
• Atypical Property and Loan Types
• Chapter Summary
• Terminology

Chapter 15: Real Estate Finance Mathematics

• Approach to solving Math Problems
• Converting Fractions to Decimals
• Percentage Problems
• Profit and Loss Problems
• Prorations
• Mathematical Tables and Their Use
• Chapter Summary
• Terminology

Chapter 16: State Sponsored Home Loan Programs

Chapter 17: Cal-Vet Loans (California Example)

• Eligibility for Cal-Vet Programs
• Qualifying and Fees
• Broker Origination
• Chapter Summary
• Terminology

Chapter 18: Escrow Procedures

• Opening Escrow
• Settlement Statement and Closing Costs
• Real EState Settlement Procedures Act (RESPA)

Glossary

Index

AgentCollege.com