BID-359 — Real Estate Continuing Educati
1)Mortgage Updates for Today's Market Course Approval Number: C20160483 Credit Hours: 4 hours elective The mortgage market is changing fast. This critical update will be presented by a loan officer &/or an underwriter who is hands on in the mortgage business every day. Upon completion of the course, students will: have an understanding of what criteria their clients have to meet to qualify for the main loan packages available currently, understand present day appraisal requirements for FHA & Conventional loans, be able to write an Agreement of Sale with a Seller Concession, understand 203(k) Rehab Loan and Gift of Equity for down payment and know how to explain the HUD-1 Settlement Sheet to Clients. 2)Critical Updates for NJ Agents Course Approval Number: C20160454 Credit Hours: 4 hours core Agents will learn about many of the most important industry updates that have occurred over the last several years, including: the Bulk Sales Act, Buyer Rebates, Continuing Education Requirements, Pocket Cards & Paper Licenses, the new Referral Agent License, Non-Resident Seller Tax Payment, Broker Price Opinions (BPOs), MARS Rule & MAP Rule and RESPA updates. The objective of the course is to keep agents well informed of regulatory changes so they can recognize potential issues and take any necessary precautions to protect their clients and themselves. 3)Ethical Factors in Short Sale Situations Course Approval Number: C20160481/ C20160482 Credit Hours: 2 hours ethics + 1 hour core In the current market, short sales are an increasingly common event. Short sale transactions entail a more complex process with more parties to the transaction, creating many grey areas for agents to navigate. The objective of this course is to provide an understanding of the ethical and legal risks posed to agents and their clients in short sale situations. Class discussion will focus on identifying potential agency issues and understanding the agent's obligations to each party to the transaction (including lender, homeowner, buyer, etc.)