Synopses & Reviews
This text is ideal for people studying for a real estate licensee, individuals seeking to enter the mortgage loan business and for those already actively working in the industry. Key topics of coverage include appraisal, credit agencies, title and escrow, and computer programs used in the industry. Important legal concepts such as trust fund handling and both federal and state compliances are also covered. There is extensive coverage of the forms necessary for the industry such as loan application, credit authorization, actual escrow instructions and much more.
Table of Contents
PART I: SCOPE OF THE BUSINESS. 1. Scope of Mortgage Loan Brokerage. 2. Sources of Mortgage Loan Business. PART II: LOANS. 3. Loans: Conventional. 4. Loans: Government and Other. 5. Loans: Disclosure and Compliance. PART III: PROCESSING. 6. Processing: Pre-QualificationandApplication. 7. Processing: CreditandDisclosures. 8. Processing: VerificationandStacking Order. 9. Processing: Appraisal. TitleandSettlement. 10. Processing: UnderwritingandQuality Control. 11. Processing: FundingandClosing. PART IV: THE SECONDARY MONEY MARKET. 12. ShippingandServicing. PART V: REGULATIONSandOPERATIONS. 13. The Business Operation: SupervisionandAgency. 14. California Department of Real Estate (DRE) License Activity for Loan Agents. 15. Trust Fund Handling. Appendix A: Glossary of Terms. Appendix B: FNMA Form 1003 - English and Spanish. Appendix C: Sample Sale Escrow Instructions. Appendix D: Sample Preliminary Title Report. Appendix E: Sample URAR Appraisal Report. Appendix F: Sample Loan Documents.