Real Estate Finance - No. 0411

In this course, the student will study mortgage theory and law, the money aspects of promissory notes, deeds of trust and mortgages, the various types of loans that are available, and the cost of those loans. The student will also learn about the Truth-in-Lending Act, Regulation Z, fair credit reporting and various illegal loan practices. In addition, the student will learn how the mortgage markets are organized and operate. Finally, we will discuss equal credit laws, the Community Reinvestment Act, and the various fair housing laws that impact the every day practice of the real estate profession.

Table of Contents

Unit 1  Mortgage Theory & Law
Lien Theory Versus Title Theory Pledge Methods Promissory Note The Deed of Trust Partial Release "Subject To" Clause Assumption of the Loan Novation Early Mortgages		Debt Priorities First Lien Mortgage Subordination Chattel Liens The Foreclosure Process Nonjudicial Foreclosure Advantages of the Deed of Trust Deed in Lieu of Foreclosure
Unit 2  Lending Practices
Term Loans Loan Renewal Amortized Loans Repayment Methods Monthly Payments Loan Size Change in Maturity Date Budget Mortgage Balloon Loan Partially Amortized Loan Existing Loans Loan-to-Value Ratio		Equity Loan Points Origination Fee Discount Points FHA Department of Veterans Affairs Adjustable-Rate Mortgages Private Mortgage Insurance Homeowner's Protection Act (HPA) Approval Procedure Rural Housing Services Administration
Unit 3  Loans & the Consumer
Truth in Lending Act Loan Application and Approval Settlement Funds Purpose of Loan
Unit 4  Sources of Financing
Primary Market Savings and Loan Associations Disintermediation Commercial Banks Life Insurance Companies Mortgage Companies Mortgage Brokers Act Computerized Loan Origination Municipal Bonds Other Lenders Texas Loan Programs Texas Veterans Land Fund Veterans' Housing Assistance Program Texas Department of Housing and Community Affairs Housing Finance Corporation Secondary Market		Traditional Delivery System Standardized Loan Procedures FNMA Home Seller Program Ginnie Mae FHLMC Participation Certificates Farmer Mac Loan Qualification Private Conduits Automated Underwriting Systems Availability and Price of Mortgage Money Usury Price to the Borrower Due-On-Sale
Unit 5  Types of Financing
Adjustable Rate Mortgages Disclosures Graduated Payment Mortgage Equity Sharing "Rich Uncle" Financing Package Mortgage Blanket Mortgage Reverse Mortgage Construction Loan Blended-Rate Loan Equity Mortgage Affordable Housing Loan Credit Criteria		Consumer Education 97% Conventional Loan Asset Integrated Mortgage Seller Financing Wraparound Mortgage Subordination Contract for Deed Options Overly Creative Financing Investing in Mortgages Rental Land Leases
Unit 6  Fair Housing
Constitutional Impact on Ownership of Real Property Fair Housing Laws Housing Covered by the Fair Housing Law Acts Not Prohibited by the Fair Housing Law Fair Housing Enforcement Agent's Duties Testers Texas Fair Housing Law The Americans with Disabilities Act Equal Credit Opportunity Act Community Reinvestment Act

The course contains practice quizzes and exams in each unit, flashcards, and exercises, and is completed with a multiple choice final exam.