California Mortgage Loan Origination & Lending (E-Book)

D. L. Grogan and M. C. Buzz Chambers
Publication Date: 2015/05/10
Edition: 5
ISBN 10: 1629800392
ISBN 13: 978-1-62980-039-4
© 2015

Availability: In stock


Book Description

California Mortgage Loan Origination & Lending provides a comprehensive overview of the loan process and discusses the mortgage loan business, exploring career opportunities in this competitive and dynamic industry. The authors lead readers through the challenging field of mortgage brokering, detailing the factors that affect credit scores, what to look for in appraisal reports, and six traits necessary for success in the profession. This 5th edition is updated to reflect the latest financial information and regulations, including the new NMLS license laws and practice test questions.

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: Finance Disclosure and Other Real Estate Disclosures. Part III. Processing: 6. Processing: Prequalification and Loan Application. 7. Processing: Credit and Disclosures. 8. Processing: Verifications and Stacking Order. 9. Processing: Escrow Settlement, Title, and Appraisal. 10. Processing: Underwriting and Quality Control. 11. Processing: Documents, Funding, and Closing. Part IV. The Secondary Money Market: 12 Shipping and Servicing. Part V. Regulations and Operations: 13. The Business Operational Practices and Department of Business Oversight (DBO) Licensing. 14. California Bureau of Real Estate (CalBRE) License Activity for Loan Agents. 15. Math and Trust Funds for the Loan Agent. 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 Agreements. Appendix J. Web Sites. Appendix K. Abbreviations and Acronyms.

D. L. Grogan and M. C. Buzz Chambers

D. L. Grogan MBA, GRI, CRS, CPM

D.L. Grogan became a real estate sales associate in 1974 before passing the broker exam and owning two national franchise offices. Professional designations earned include: Graduate, Realtors Institute (GRE) in 1977; Certified Residential Specialist (CRS) in 1979 having closed over 100 escrows; and Certified Property Manager (CPM) in 1985. Dr. Grogan has two bachelor’s degrees (one in business administration and management and one in real estate/finance), a master’s degree in property management training and education, and a doctorate, which she earned in 2000, conducting a needs assessment for the real estate assistant. In 1998, the California Real Estate Education Association awarded Dr. Grogan the Norm Woest Award for Most Outstanding Real Estate Instructor. Dr. Grogan has authored several textbooks and continuing education courses for the California Association of REALTORS®. Currently the full time real estate professor at El Camino College, Grogan has taught real estate finance and mortgage loan brokerage and lending at five California community colleges and four universities, including instructor of Mortgage Loan Brokering at the University of California, Los Angeles in 2014.

M.C. Buzz Chambers RECI, GRI

M.C. Buzz Chambers has been a senior loan consultant for many years, specializing in residential loans for one- to four-unit properties, FHA and VA loans, and numerous conventional loans. Mr. Chambers has owned a mortgage company, sold real estate, worked as a title insurance representative, and has managed a real estate office sales force. Mr. Chambers is an approved instructor for the California Association of REALTORS® and has earned certificates in real estate and escrow who currently teaches Mortgage Loan Brokering and Real Estate Finance at several community colleges. He is also a real estate certified instructor (RECI), a member of the California Real Estate Education Association (CREEA), and a member of the California Association of REALTORS® (CAR). He has also earned the Graduate REALTOR® Institute (GRI) designation.

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