Description

103- Finance… OBJECTIVES:

 • Describe how the primary and secondary (including GSEs) mortgage markets and entities operate.

• Demonstrate knowledge of the requirements and rules regarding VA loans, FHA-insured loans, and various conventional loan types.

• Perform basic calculations for fixed and adjustable-rate mortgages to include qualifying ratios, down payment, monthly payment, PMI, principal, interest, MIP and discount points.

• Perform calculations unique to VA loans and FHA-insured loans.

• Advise a client about the appropriateness of available loan products and programs.

• Determine when a client should be referred elsewhere for professional lending advice and processing.

• Describe the requirements and processes of a reverse annuity mortgage.

• Prepare a client for the three stages of the mortgage loan process.

• Demonstrate a working knowledge of the credit scoring system

• Discover potentially fraudulent mortgage activity.

103- Negotiating and Counseling… OBJECTIVES:

• Manipulate the critical elements of negotiation to a strategic advantage.

• Implement negotiation tactics and strategies appropriately.

 • Demonstrate behavior consistent with the Four Negotiating Principles in a negotiation situation.

• Respond to and guide clients through negotiation objections and sales resistance.

 • Summarize the job description and requirements of a real estate counselor.

• Evaluate the potential of real estate counseling as a career addition.

103- Law… OBJECTIVES: 

• Comply with the Florida Brokerage Relationship Disclosure Act.

• Demonstrate behavior consistent with the laws regarding relationships between brokers and associates and licensed and unlicensed persons.

• Demonstrate behavior consistent with the Florida laws affecting real estate.

• Describe the procedures involved in the entrustment and transfer of funds related to escrow.

 • Demonstrate the ability to address the disclosure of facts affecting title or material value.