California Mortgage Loan Brokering and Lending, 3rd Edition

Product Details

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. 736pp.

New To This Edition:

• Essential Steps for Success as a Mortgage Loan Broker.
• Updated Charts, Economic Graphs and the Latest Loan Programs, including the newest URLA form.
• Expanded Loan, Appraisal and Employment Form Coverage � now including English and Spanish versions of FNMA forms.
• New Coverage of Wholesale Brokerage Agreement.
• Updated Internet Website Listings.
• Comprehensive Coverage of Finance Laws through 2006.
• Realistic Sales Price Calculations - based not on $215,500, but on present-day $425,500!

Features:

• The authors detail the workings of the mortgage loan business and give individuals a complete overview of the career opportunities in this fiercely competitive real estate industry.

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 & Disclosures.
• 8. Processing: Verifications & Stacking Order.
• 9. Processing: Appraisal, Title and Settlement.
• 10. Processing: Underwriting & Quality Control.
• 11. Processing: Documents, Funding & Closing.
• Part IV: The Secondary Money Market.
• 12. Shipping & Servicing.
• Part V: REGULATIONS & 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.