Basic Real Estate Finance

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School</A></div> <bR> <div> <A HREF="id51.htm" TARGET="_top" TITLE="Frequently Asked Questions">FAQ's</A></div> <bR> <DIV ALIGN="LEFT"></DIV> <div> APPROVED</div> <div> BY</div> <div> <A HREF="http://159.87.254.2/publicdatabase/DetailSchool.aspx?Id=102" TARGET="_top" TITLE="http://159.87.254.2/publicdatabase/Detai"><IMG SRC="19b5a5a0.png" border=0 width="90" height="90" ALIGN="BOTTOM" HSPACE="0" VSPACE="0"></A></div> <div> (click here</div> <div> to verify)</div> <bR> </td> <td valign="top" height=380 width="100%" colspan=2 BGCOLOR="#FFFFFF" TEXT="#080000"> <div> <B>Basic Real Estate Finance</B><FONT SIZE="6" COLOR="#000000" FACE="Arial" ><B>  </B></FONT></div> <div> <B>BASIC REAL ESTATE FINANCE</B></div> <div> (6 hours, General)</div> <bR> <div> <TABLE BORDER="0" CELLPADDING="2" CELLSPACING="1" WIDTH="402" BORDERCOLORLIGHT="#C0C0C0" BORDERCOLORDARK="#808080" FRAME="BOX" RULES="ALL" HSPACE="0" VSPACE="0" > <tR> <tD VALIGN=TOP HEIGHT= 98 WIDTH="396"><div> Everything you ever wanted to know about real estate finance is covered in detail.  Topics include financing instruments, promissory notes, mortgages, assumptions, priority of loans, foreclosures, deeds to secure debt, types of loans, sources of funds, loan practices and closing costs.</div> <bR> </tD> </tR> </TABLE></div> <div> <TABLE BORDER="0" CELLPADDING="2" CELLSPACING="1" WIDTH="542" BORDERCOLORLIGHT="#C0C0C0" BORDERCOLORDARK="#808080" FRAME="BOX" RULES="ALL" HSPACE="0" VSPACE="0" > <tR> <tD VALIGN=TOP HEIGHT= 32 WIDTH="47"><div> <B>TIME</B></div> </tD> <tD VALIGN=TOP WIDTH="187"><div> <B>CONTENT</B></div> </tD> <tD VALIGN=TOP WIDTH="7"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="32" ALIGN="bottom" WIDTH="7" HSPACE="0" VSPACE="0"></tD> <tD VALIGN=TOP><NOBR><div> <B>LEARNING OBJECTIVES</B></div> <div> After this segment, the student will be able to:</div> </NOBR></tD> </tR> <tR> <tD VALIGN=TOP HEIGHT= 33 WIDTH="47"><div> 15 min</div> </tD> <tD VALIGN=TOP WIDTH="187"><div> Financing instruments</div> </tD> <tD VALIGN=TOP WIDTH="7"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="33" ALIGN="bottom" WIDTH="7" HSPACE="0" VSPACE="0"></tD> <tD VALIGN=TOP WIDTH="280"><div> Demonstrate an understanding of financing instruments.</div> </tD> </tR> <tR> <tD VALIGN=TOP HEIGHT= 33 WIDTH="47"><div> 15 min</div> </tD> <tD VALIGN=TOP WIDTH="187"><div> Promissory notes</div> </tD> <tD VALIGN=TOP WIDTH="7"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="33" ALIGN="bottom" WIDTH="7" HSPACE="0" VSPACE="0"></tD> <tD VALIGN=TOP WIDTH="280"><div> Explain the use of prepayment and acceleration clause in a promissory note.</div> </tD> </tR> <tR> <tD VALIGN=TOP HEIGHT= 49 WIDTH="47"><div> 45 min</div> </tD> <tD VALIGN=TOP WIDTH="187"><div> Mortgages</div> </tD> <tD VALIGN=TOP WIDTH="7"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="49" ALIGN="bottom" WIDTH="7" HSPACE="0" VSPACE="0"></tD> <tD VALIGN=TOP WIDTH="280"><div> Exhibit an understanding of hypothecation, essential elements and optional elements of mortgages.</div> </tD> </tR> <tR> <tD VALIGN=TOP HEIGHT= 16 WIDTH="47"><div> 15 min</div> </tD> <tD VALIGN=TOP><NOBR><div> Assumption of mortgages</div> </NOBR></tD> <tD VALIGN=TOP WIDTH="7"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="16" ALIGN="bottom" WIDTH="7" HSPACE="0" VSPACE="0"></tD> <tD VALIGN=TOP><NOBR><div> Understand and explain mortgage assumption.</div> </NOBR></tD> </tR> <tR> <tD VALIGN=TOP HEIGHT= 33 WIDTH="47"><div> 15 min</div> </tD> <tD VALIGN=TOP><NOBR><div> Other mortgage documents</div> </NOBR></tD> <tD VALIGN=TOP WIDTH="7"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="33" ALIGN="bottom" WIDTH="7" HSPACE="0" VSPACE="0"></tD> <tD VALIGN=TOP WIDTH="280"><div> Demonstrate an understanding of certificates of estoppel and reduction.</div> </tD> </tR> <tR> <tD VALIGN=TOP HEIGHT= 33 WIDTH="47"><div> 15 min</div> </tD> <tD VALIGN=TOP WIDTH="187"><div> Priority of loans</div> </tD> <tD VALIGN=TOP WIDTH="7"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="33" ALIGN="bottom" WIDTH="7" HSPACE="0" VSPACE="0"></tD> <tD VALIGN=TOP WIDTH="280"><div> List loan priorities and understand the ordering process.</div> </tD> </tR> <tR> <tD VALIGN=TOP HEIGHT= 16 WIDTH="47"><div> 15 min</div> </tD> <tD VALIGN=TOP WIDTH="187"><div> Foreclosure</div> </tD> <tD VALIGN=TOP WIDTH="7"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="16" ALIGN="bottom" WIDTH="7" HSPACE="0" VSPACE="0"></tD> <tD VALIGN=TOP><NOBR><div> Understand judicial and nonjudicial foreclosure.</div> </NOBR></tD> </tR> <tR> <tD VALIGN=TOP HEIGHT= 33 WIDTH="47"><div> 30 min</div> </tD> <tD VALIGN=TOP WIDTH="187"><div> Deed of trust</div> </tD> <tD VALIGN=TOP WIDTH="7"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="33" ALIGN="bottom" WIDTH="7" HSPACE="0" VSPACE="0"></tD> <tD VALIGN=TOP WIDTH="280"><div> Know the parties to and the clauses involved with a deed of trust.</div> </tD> </tR> <tR> <tD VALIGN=TOP HEIGHT= 49 WIDTH="47"><div> 60 min</div> </tD> <tD VALIGN=TOP WIDTH="187"><div> Types of loans</div> </tD> <tD VALIGN=TOP WIDTH="7"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="49" ALIGN="bottom" WIDTH="7" HSPACE="0" VSPACE="0"></tD> <tD VALIGN=TOP WIDTH="280"><div> Be familiar with a majority of the types of loans available and some of their special characteristics.</div> </tD> </tR> <tR> <tD VALIGN=TOP HEIGHT= 33 WIDTH="47"><div> 30 min</div> </tD> <tD VALIGN=TOP WIDTH="187"><div> Source of funds</div> </tD> <tD VALIGN=TOP WIDTH="7"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="33" ALIGN="bottom" WIDTH="7" HSPACE="0" VSPACE="0"></tD> <tD VALIGN=TOP WIDTH="280"><div> Be familiar with the major lending institutions and their backgrounds.</div> </tD> </tR> <tR> <tD VALIGN=TOP HEIGHT= 49 WIDTH="47"><div> 45 min</div> </tD> <tD VALIGN=TOP WIDTH="187"><div> Loan practices</div> </tD> <tD VALIGN=TOP WIDTH="7"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="49" ALIGN="bottom" WIDTH="7" HSPACE="0" VSPACE="0"></tD> <tD VALIGN=TOP WIDTH="280"><div> Display an understanding of loan-to-value rations, loan charges, loan discounting, factors affecting interest rates, and mortgage insurance.</div> </tD> </tR> <tR> <tD VALIGN=TOP HEIGHT= 33 WIDTH="47"><div> 30 min</div> </tD> <tD VALIGN=TOP WIDTH="187"><div> Closing costs</div> </tD> <tD VALIGN=TOP WIDTH="7"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="33" ALIGN="bottom" WIDTH="7" HSPACE="0" VSPACE="0"></tD> <tD VALIGN=TOP WIDTH="280"><div> Understand, calculate and know the difference in fixed and variable closing costs.</div> </tD> </tR> <tR> <tD VALIGN=TOP HEIGHT= 49 WIDTH="47"><div> 30 min</div> </tD> <tD VALIGN=TOP WIDTH="187"><div> Prepaid items</div> </tD> <tD VALIGN=TOP WIDTH="7"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="49" ALIGN="bottom" WIDTH="7" HSPACE="0" VSPACE="0"></tD> <tD VALIGN=TOP WIDTH="280"><div> Calculate the prepaid amounts on hazard insurance, taxes, interest adjustment, mortgage interest and lender specific items.</div> </tD> </tR> </TABLE></div> <bR> </td> </tr><tr> <td valign="top" colspan=2 height=99 style=" border-top: 1px solid #990000;" BGCOLOR="#FFFFFF" TEXT="#080000" bgproperties="fixed" background="01200640egerdp.png"> <bR> <bR> <div> Phone:<B> 602-255-0101</B></div> <bR> <bR> </td> </tr></table></body>