Maricopa Community Colleges  REA282AB   19936-20086 
Official Course Description: MCCCD Approval: 07/22/08
REA282AB 19936-20086 LEC 0.75 Credit(s) 0.75 Period(s)
Lending and Products
Lending practices, loan products, and government programs in real estate finance.
Prerequisites: None.
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MCCCD Official Course Competencies:
 
REA282AB   19936-20086 Lending and Products
1. Describe main components of credit decisions. (I)
2. Calculate basic closing costs and prorations. (I)
3. Evalaute load programs and identify lower cost alternatives. (II)
4. Describe characteristics of variable rate mortgages. (II)
5. Describe principal government agencies that insure and guarantee real estate loans. (III, IV)
6. Calculate prorated interest on a mortgage. (I)
7. Calculate the remaining balance on a mortgage loan. (I)
8. Describe the amortization process. (I)
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MCCCD Official Course Outline:
 
REA282AB   19936-20086 Lending and Products
        1. Lending Practices
      A. Qualifying the Borrower
      B. Loan Documentation
      C. Step-by-Step Load Application
      D. Primary Lending Math
    II. Identifying Loan Products
        A. Fixed Rate
        B. ARM
        C. VRM
        D. GPM
        E. Negative Amortization
        F. Buydown
      III. Government Programs
          A. FHA/VA Eligibility
          B. Government Underwriting
          C. Refinancing and Streamlining
        IV. Other Government Activities
            A. Federal Land Bank
            B. PCA
            C. HUD
            D. Farm Credit Bureau
            E. IDA
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