Synopses & Reviews
Two of the best and most trusted California real estate authors, Grogan and Chambers once again deliver the textbook for real estate licensees, individuals seeking to enter the mortgage loan business, and those already actively working in the industry. The new third edition covers key topics including 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 to meet the state's course requirements. There is extensive coverage of the forms necessary for the industry such as loan application FNMA form, credit authorization, actual escrow instructions and much more. This is also one of the approved courses for pre-license in California.
Synopsis
Ideal for real estate licensees, individuals seeking to enter the mortgage loan business, and those already actively working in the industry, CALIFORNIA MORTGAGE LOAN BROKERING AND LENDING covers key topics including 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 included to meet the state's course requirements. Extensive coverage of necessary forms such as loan application FNMA form, credit authorization, actual escrow instructions are included.
Synopsis
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.
About the Author
Professor Grogan began practicing real estate in 1974 as a sales associate before eventually owning 2 Century 21 franchise offices. After closing 100 escrows and completion of the Graduate, Realtors Institute (GRI) designation criteria in 1977, Grogan received the Certified Residential Specialist (CRS) designation in 1979. In 1985 the coveted Certified Property Manager (CPM) designation was conferred on Grogan. Having received 2 bachelors' degrees, one is business administration/management and one in real estate/finance, Dr. Grogan earned a master's degree from California Polytechnic University, Pomona for completion a thesis on Property Management Training and Education in 1985 before being bestowed with the doctoral degree from Pepperdine University for the dissertation on A Needs Assessment for the Real Estate Assistant. Dr. Grogan is the full-time real estate professor at El Camino College in Torrance, California and has authored many publications including many of the California Community Colleges Student or Instructor Study Guides, continuing education course materials, and curriculum.M.C. "Buzz" Chambers, Jr. has been a senior loan consultant for many years, specializing in residential loans for 1-4 unit properties, FHA and VA loans, in addition to numerous conventional loans. He has owned a mortgage company, sold real estate and worked as a title insurance representative, in addition to managing a real estate office sales force. Mr. Chambers has been associated with the real estate industry for more than 30 years. Mr. Chambers is an approved instructor for the California Association of REALTORS? and has earned certificates in real estate and escrow. He is also a real estate certified instructor (RECI), a member of both the California Real Estate Educators' Association (CREEA) and the California Association of REALTORS? (CAR). He has also earned the Graduate REALTOR? Institute (GRI) designation.
Table of Contents
Part I: SCOPE OF THE BUSINESS. 1. Scope of Mortgage Loan Brokerage. 2. Sources of Business. Part II: LOANS. 3. Loans: Conventional. 4. Loans: Government. 5. Loans: Financial Disclosure and Other Real Estate Disclosures. Part III: PROCESSING. 6. Processing: Pre-Qualification and Loan Application. 7. Processing: Credit and Disclosures. 8. Processing: Verifications and Stacking Order. 9. Processing: Appraisal, Title and Settlement. 10. Processing: Underwriting and Quality Control. 11. Processing: Documents, Funding and Closing. Part IV: The Secondary Money Market. 12. Shipping and Servicing. Part V: REGULATIONS and OPERATIONS. 13. The Business Operations, Lending Practices and Department Of Corporations (DOC) Licensing. 14. California Department of Real Estate (DRE) License Activity for Loan Agents. 15. Trust Funds Handling. Appendix A - Loan Application FNMA Form 1003 - (English and Spanish). Appendix B - Credit Report. Appendix C - Verifications. Appendix D - Sale Escrow Instructions. Appendix E - Appraisal Report. Appendix F - Preliminary Title Report. Appendix G - Loan Documents. Appendix H - Employment Forms. Appendix I - Wholesale Brokerage Agreement. Appendix J - Web Sites. Appendix K - Glossary of Terms.