California Mortgage Loan Brokerage: A Practical Guide to Residential Loan Brokering and Lending

Product Details

This practical guide for both salesperson and broker candidates offers a historical view of the industry and moves step-by-step through the mechanics of the loan process. Discussion emphasizes the fiduciary responsibility, and includes the Economic Stimulus Act of 2008, 2008 FHA and HUD California loan maximums, Mortgage Forgiveness Debt Relief Act of 2007, and more.

Table of Contents

• What Is a Mortgage Broker?
• The Mortgage Marketplace.
• Getting Started as a Loan Agent.
• The Primary Mortgage Market.
• The Secondary Mortgage Market.
• First Interview with the Loan Applicant.
• Taking the Loan Application.
• Loan Application Disclosures.
• The Art of Packaging a Loan.
• Closing the Loan.
• Government-Sponsored Financing.
• Tax Advantages of Home Ownership.
• And More.