Provides instruction for the very basis of the mortgage business with special attention to the real estate laws and regulations in California. Fills a dire need for a complete reference for the mortgage broker.
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
I. SCOPE OF THE BUSINESS. 1. Scope of Mortgage Loan Brokerage. 2. Sources of Mortgage Loan Business. II. LOANS. 3. Conventional. 4. Government and Other. 5. Disclosure and Compliance. III. PROCESSING. 6. Pre-Qualification & Application. 7. Credit & Disclosures. 8. Verifications & Stacking Order. 9. Appraisal, Title & Settlement. 10. Underwriting & Quality Control. 11. Funding & Closing. IV. THE SECONDARY MONEY MARKET. 12. Shipping & Servicing. V. REGULATIONS & OPERATIONS. 13. The Business Operation: Supervision & Agency. 14. State Licensing Agencies. 15. Trust Funds Handling. Appendix A: Glossary of Terms Appendix B: FNMA Form 1003- English and Spanish. Appendix C: Sample Sale Escrow Instructions. Appendix D. Sample Preliminary Title Report. Appendix E: Sample URAR Appraisal Report. Appendix F: Sample Loan Documents.