Student Handout: Post Salesperson 2020s

 

 

Orientation

Deadline for Completion

 

Mississippi Real Estate Commission Mandatory Course

 

  • 73-35-14.5. Temporary licenses; post-license education

The holder of a temporary license shall not be issued a permanent license until he has satisfactorily completed a thirty-hour post-license course prescribed by the commission and offered by providers specifically certified by the commission to offer this mandated postlicense education.

The holder of a temporary license shall complete the entire thirty-hour course within twelve (12) months of issuance of his temporary license; otherwise this temporary license shall automatically be placed on inactive status by the Mississippi Real Estate Commission.

If the holder of the temporary license does not complete the course and have his permanent license issued within one (1) year following the first day of the month after its issuance, the temporary license shall automatically expire and lapse.

A temporary license is not subject to renewal procedures in this chapter and may not be renewed.

Lesson Complexity: Standard

 

ABOUT THE INSTRUCTOR

 

LESLIE CLAUSON, CDEI, DREI

Real Estate Training Institute

2650 Beach Blvd., Suite 35

Biloxi, Mississippi 39531

228-354-8585

information@msrealtycourses.com

 

Leslie has over 20 years of active real estate activities. She specializes in apartment complexes and 1031 tax-deferred exchanges. She began her career in Long Beach, California, and planned to retire after successfully investing in residential income-producing properties. Instead, Leslie and her husband, Broker Jim Clauson purchased the Real Estate Training Institute on the Gulf Coast of Mississippi in 2011. She has written and published four Mississippi specific real estate exam textbooks, four variations of pre-exam general information textbooks, and a book for the Tennessee exam. Leslie has had two 30-hour courses approved by ARELLO. In 2018, she connected the Myers-Briggs¬ģ theory of psychological types with her Continuing Education courses. Using her Myers Briggs¬ģ Practitioner License, she designed a certification series of real estate CE courses leading to the designation, ‚ÄúEXCEL Yourself‚ÄĚ for real estate professionals.

 

Instructor Response Time: 24-48 hours

 

Course Goal

 

The primary goal of this course is to substantiate for licensees those responsibilities of which they must be fully informed and aware when dealing in a business relationship with each other and the public.

Course Description

 

This course covers real estate information and issues that are important to the success of a first-year real estate professional. It provides the adult learner with an in-depth knowledge of real estate concepts such as agency, contracts, antitrust issues, agency relationships, prospecting, negotiations, environmental hazards, property condition disclosure, inspections, and time life management.

 

The post-license course for salesperson licensees shall be in the following subjects:

  1. Contracts
  2. Managing Earnest Money and Escrow/Trust Accounts
  3. Agency
  4. Tools to Succeed
  5. Fair Housing and Ethics
  6. Antitrust
  7. Intra/Inter-Office Confidentiality
  8. Environmental Hazards
  9. Financing the Dream and Keeping the Dream Alive
  10. Property Condition Disclosure

 

Course Availability

  1. This course is available for three months. Time begins at the date of registration.
  2. The course is available twenty-four hours a day.
  3. The course is self-paced.
  4. The course is self-contained and needs no additional study materials.

 

Criteria for Successful Completion of the Course

  1. Mississippi Real Estate License Law requires that adult learners complete 30 hours of instruction to receive a certificate of completion.
  2. Incomplete modules cause learners to drop below the required 30 hours. Learners are required to make up those hours.
  3. Hours missed must be made up in the same topic missed.
  4. Students are not allowed to sign-in or take the course for other students under any circumstances.
  5. The format of this program records active hours.
  6. Each module quiz score must reach 75% correct.

 

Course Evaluation

  1. A Completed survey at the end of the course must be completed and submitted.
  2. Completion Certifications will be dispersed upon completion of the survey.

 

Exam Information

Mississippi Jurisdictional Requirements Specific Requirements

  1. The state of Mississippi does not require any exams for this course.
  2. Nonetheless, Mississippi is¬† an ‚ÄúARELLO‚ÄĚ state and requires online courses to be approved by ARELLO.
  3. ARELLO sets the standards for the Mississippi online courses and thus Incremental Quizzes are contained within this course.

 

ARELLO
Policy 9: Distance education courses are required to have assessments and use remediation within the course design.

 

There is no Final Exam.

Notification of Exam Results

Exam results to be emailed to the Learner.

Certificates of Completion 

Upon passing the course, a Certificate of Completion is awarded to the learner. The student will receive an original certificate suitable for framing. A copy gets submitted to the Mississippi Real Estate Commission (MREC).

 

Registration Policies and Refunds

  1. Registrations confirmed with valid payment in full.
  2. Payment accepted is cash, money order, Visa, Discover, or MasterCard.
  3. No Refunds will be issued once this course has been started.

 

Computer Requirements

  1. A new computer is not necessary to attend this class.
  2. However, we do recommend a general comfort level with computers and the internet.
  3. Requirements for computers.

PC

OS: Windows 7 and newer

Browser:

  1. Firefox 61 and after (extended releases not supported)
  2. Chrome 68 and after
  3. Note: Internet Explorer and Edge are not recommended, and Safari for Windows is not supported

MAC

 OS: Mac OSX 10.6 and newer

Browser: 

  1. Firefox 61 and after (extended releases not supported)
  2. Chrome 68 and after
  3. Safari 10 and after
  4. Note: Internet Explorer and Edge are not supported for Mac
  • Note: Linux ChromeOS is also supported.

Mobile Devices

Students may use a mobile device such as a phone or tablet as a means of access.

Technical Support Availability and Contact Information

228-354-8585

information@msrealtycourses.com

 

Students can contact the school Monday through Friday

9:00 AM to 4:00 PM

 

Real Estate Training Institute

228-354-8585

information@msrealtycourses.com

 

Office Hours: 9 AM to 4 PM

 

Course Participation

There are three checkpoints within this course, at which time learners will describe the course experience.

 

508 Compliance

The Real Estate Training Institute has tried its best to make our website 508 compliant. We have added several accessibility features to our website.

 

Accessibility

There is a panel on the left side of the webpage to adjust this site for easier accessibility.

 

Color contrast for color blind accessibility  

Our graphic artist tested the initial course template and our example in-course graphics for adequate foreground and background color contrast to make the content accessible to learners with color blindness. This work helped us streamline our course development and avoid any severe structural issues later in the process.

 

Tabbing for screen reader accessibility

On the right side of this web site there is a sidebar panel capable of the following:

  1. Increase Text
  2. Decrease Text
  3. Readable Fonts
  4. Highlight Links
  5. Black/Yellow Contrast
  6. Keyboard Navigate
  7. Stop Animations

 

 

OUTLINE

 

MODULE ONE: CONTRACTS

 

Introduction to Contract

 

Real Estate Contracts

1.    Overview

2.    Entitlement to Commission

A.      Listing Agreements with Sellers

1)    Exclusive Agency

2)    Exclusive Right

3)    Net

B.    Listing Agreements with Buyers

C.   Entitlement to Commission

1)    Procuring Cause

3.    Unauthorized Practice of Law

2)    Statute of Frauds

4.    Seller Documents

A.    Deed

B.    Title Policy

C.   Survey

D.   Mortgage

E.    Zoning and Variances

5.    Provisions of real estate contracts

A.    Contract Date

B.    Parties to the Contract

1)    Seller

2)    Buyer

a)    Joint tenancy and Tenancy in Common

b)    Sole Ownership

c)    Tenancy by the Entireties

6.    Earnest Money Deposits

A.    Amount

B.    Form of Funds

C.   Notes as earnest money

D.   When the licensee is the buyer

7.    Legal Descriptions

8.    Purchase Price and Method of Payment

9.    Financing Terms

A.    Buyer financial statement for seller review

B.    Buyer pre-qualification

C.   Time limits for loan approval

D.   Owner occupied

E.    Conditional on buyer loan approval

F.    Specify loan documents buyer must execute

10. Specify Financing Terms

A.    Cash Sale

B.    Seller to carry first mortgage

C.   New conventional first mortgage

D.   Straight non amortized second

E.    VA loan

F.    FHA loan

G.   Adjustable rate loans

H.   Loan assumptions

11. Chattel and Fixture Inclusion

12. Evidence of Title

13. Date of Closing

14. Proration expenses and income

15. Possession of Property

16. Time allowed for acceptance

17.Specific Performance vs. Liquidated Damages

18. Liquidated damages

19.Rescission on Breach

20.Compensatory Damages

21. Specific Performance

22. Miscellaneous Issues Regarding Sale Contracts

A.    Special assessment

B.    Licensee acting as buyer or seller

C.   Contingent on the sale of the buyer’s property

D.   Right of first refusal

E.    Contingent on property inspection

F.    Conditional on spouse’s approval

G.   Arbitration clause

H.   Signing and acknowledgment

I.      Number of copies needed

23. Disclosure

A.    Psychologically Impacted or stigmatized properties

B.    Statutory duty of Seller to disclose

1)    Lead based paint disclosure

2)    Mold and waiver

3)    Restrictive covenants

24. Other Contracts

A.    Lease purchase agreement

B.    Option contract

C.   Agreement for deed

25. Johnson v. Davis

A.    Brief summary

B.    Synopsis of rule of law

C.   Facts

D.   Held. Affirmed

E.    Discussion

26. TITLE 15 ‚Äď LIMITATIONS OF ACTIONS AND PREVENTION OF FRAUDS
CHAPTER 3 ‚Äď PREVENTION OF FRAUDS
ARTICLE 1 ‚Äď IN GENERAL
¬ß 15-3-1 ‚Äď CERTAIN CONTRACTS TO BE IN WRITING

A.    Universal citation

Statutes of Limitations and Breach of Contract

1.    Minor Breach (non-material breach)

2.    Material Breach

3.    Anticipatory Breach

4.    Compensatory damages

5.    Expectation Damages

6.    Consequential Damages

7.    Nominal Damages

Module Quiz

 

 

 

MODULE TWO: Managing Earnest Money and Escrow/Trust Accounts

 

Introduction to Managing Escrow Accounts

 

Basics of Escrow and Earnest Money Deposits

1.    Overview

2.    Timely Deposits of funds

3.    NSF

4.    Broker’s records

5.    Transaction failure

IREBBEA and the Beneficiaries

1.    Guidelines

2.    IREBEA Beneficiaries

A.    Habitat for Humanity

B.    Fuller Center for housing

Email Compromise

1.    Mortgage closing scams

2.    How to know if you’ve been hacked

3.    What to do if you’ve been hacked

A.    Change password

B.    Check the advice of your email provider or social networking site has about restoring your site

C.   Check your account settings

D.   Tell your friends

4.    How to protect your computer

A.    Keep firewall turned on

B.    Install and update your antivirus software

C.   Install and update your antispyware technology

D.   Keep your operating system up to date

E.    Be careful what you download

F.    Turn off your computer

5.    Scams against small business

6.    Cybersecurity basics for small business

A.    Internet fraud

1)    Business email compromise (BEC)

2)    Data Breach

3)    Denial of Service

4)    Email account compromise

5)    Malware/scareware

6)    Phishing/spoofing

7)    Ransomeware

7.    Cybercrime- FBI

A.    Key Priorities

B.    Computer and network intrusions

8.    Old Fashion Fraud Owner of Real Estate Escrow company indicted for bank, wire and mail fraud

A.    Lori Lynn Andrew

B.    Update

C.   Final Order

9.    Homebuyers Beware: Billion Dollar Phishing scam hits Maine

10. Real Estate Wire Fraud is rampant

11. Onondaga County DA issues warning of increased direct deposit phishing scams

12. Breaking News: Email Phishing attempt with NAR

13. Biglaw Firm Duped into wiring money to scam account, Loses 2.5 million in cyber breach

Nathan E. Hardwick IV and the DOJ

1.    Nathan E. Hardwick IV

2.    Asha Maurya

3.    counts one (1) through twenty-four (24)

4.    effects on victims

5.    court decision

6.    trust funds

Module Quiz

 

 

 

MODULE THREE: Agency

 

Introduction to Agency

 

Agency

1.    Definitions

A.    Agency

B.    Agent

C.   Compensation

D.   Single agency

E.    Disclosed dual agency

F.    Fiduciary

G.   Non-agent

H.   Client/customer

2.    Types of Agents

A.    Universal

B.    General

C.   Special

D.   Designated

3.    Creation of Agency

A.    Express

B.    Implied

4.    Seller Brokerage Listing Agreements

5.    Fiduciary Responsibilities

A.    COLDAC

6.    Termination of agency

7.    Consumer level services

8.    First substantive meeting

9.    Opinion vs. fact

A.    Puffing

B.    Fraud

C.   Negligent misrepresentation

D.   Negligent omission

10. Property Disclosure

A.    Latent defects

B.    Stigmatized property

C.   Environmental hazards

11. General procedures

A.    Listing Agency

B.    Buyer’s Agent

12. Agency Relationship Disclosure RULE 4.1 Mississippi

A.    Definitions

1)    Agent

2)    Client

3)    Compensation

4)    Customer

5)    Fiduciary responsibilities

6)    First Substantive Meeting

13. Disclosure Requirements

A.    Agency Disclosure Form

B.    Disclosure Exception

14. MISSISSIPPI  89-1-519. Agent; extent of agency

A.    Material facts

B.    Non-material facts

15. Definition of Dual Agency

16. National Updates on Dual Agency

What’s New in Residential Real Estate Brokerage Agency (Part 1)

1.    MLS Rules

2.    Transparency

3.    Compass Real Estate

4.    Redfin

A.    Anti-rebate laws

5.    Listing date technologies

6.    Listing Competition

7.    Brokerage Cooperative

A.    IDX and VOW sites

What’s New in Residential Real Estate Brokerage Agency (Part 2)

1.    ERA

2.    Purple Bricks

A.    Flat fee brokerages

3.    Buyer Rebates

4.    Trelora

1.    Flat fee 2500

5.    ERA Affiliates

6.    Discounted or Agent Compensation Model

7.    Value Proposition

What’s New in Residential Real Estate Brokerage Agency (Part 3)

1.    Consumer Federation of America

A.    Insufficient price competition

2.    Ibuyers

3.    Zillow

4.    trulia

I-Buyers ‚Äď A Popular Emerging Model

1.    Top 5 Ibuyers

A.    Opendoor

B.    Knock

C.   Offerpad

D.   Zillow Instant Offers

E.    Redfin

Module Quiz

 

 

 

MODULE FOUR:

Tools to Succeed

 

Introduction to Tools to Succeed

 

Advertising and Marketing on the Internet

1.    General Offers and Claims

A.    FTC Act Section 5

2.    Deceptive advertising

A.    What truth in advertising rules apply to advertisers?

B.    What makes advertising deceptive?

C.   What makes advertising unfair?

D.   How does the FTC decide if an ad is deceptive?

E.    What kind of evidence must a company have to support the claims in its ads?

3.    Reasonable basis

4.    FTC’s roll in Advertising

A.    honest and fair advertising

B.    how to file a complaint

5.    MREC requirements

Planning-to-Marketing

1.    Overview

2.    Research

3.    Planning

4.    Focus

5.    Making the Plan

 Understanding Your Customer

 

1.    Introduction

2.    Course Topics

A.    Researching Your Customers

B.    Describing Your Customers

C.   Adjusting Your Market Mix

3.    Why is it Important to Understand Customers?

4.    Researching Your Customers

5.    Six Questions for Buying Behavior

6.    How to Identify Customers and Their Needs

A.    Market Research Data

B.    Knowledge Review

C.   Track Customer Experiences

7.    Recognize Customer Range of Choices

A.    What Drives Consumer Buying Decisions?

8.    Describing Your Customers

A.    Create Personas

9.    Understand Customer Intent

A.    Four Steps to Finding Customer Intent

1)    Step 1: Identify where the customer starts.

2)    Step 2: Collect all customer actions data available.

3)    Step 3: Study patterns.

4)    Step 4: Use data as research in lieu of expensive surveys.

10. Anticipate Customer Needs

11. Understanding Your Unique Value Proposition

12. DEFINE the Need

A.    Unworkable:

B.    Unavoidable

C.   Urgent:

D.   Underserved

13. EVALUATE Your Solution

14. MEASURE Benefits vs. Drawbacks

15. BUILD Your Unique Value Proposition

A.    Adjusting Your Marketing Mix

1)    Product

2)    Pricing

3)    Placement

4)    Promotion

16. Identify New Areas of Expansion

A.    Step 1: Define the New Target

B.    Step 2: Research the Target

C.¬†¬† Step 3: Make the ‚ÄėGo/No-Go‚Äô Decision

17. Summary

18. Resources

Prospecting PPLS

 

1.    reasons people move

2.    open house

3.    open probe and closed probe questions

4.    locating prospects

5.    proactive and reactive prospecting

6.    quiz

Module Quiz

 

 

 

What have you learned?

Open Ended Question

 

 

MODULE FIVE:

Fair Housing and Ethics

 

Introduction to Fair Housing

 

Reflections of the Fair Housing Act

1.    Video highlighting the struggle of the Fair Housing Act.  Introduced by HUD Secretary Ben Carson

Fair Housing Always

1.    Who is protected?

2.    Types of Housing Covered

3.    What is prohibited

Sexual Harassment in Housing

1.    Quid pro quo

2.    Hostile environment

3.    quiz

Protection for Persons with Disabilities

1.    Rights and Obligations

2.    Section 504

3.    Reasonable Accommodations

4.    Reasonable

5.    Examples

Rules Against Children are Discriminatory

1.    Who is protected?

2.    Examples of Familial Status Discrimination

3.    Additional Resources

4.    Memorandum on the Fair Housing Act and Lead Based Paint

Housing for Older Persons

1.¬†¬†¬† What are the ‚Äú55 or Older‚ÄĚ Exemptions

2.    How to qualify a community

3.    questions

Housing Choice Voucher Program Section 8

1.    What are housing choice vouchers?

2.    Am I eligible?

3.    How do I apply?

4.    Local preferences and waiting list

5.    how do they function?

6.¬†¬†¬† Roles ‚Äď the tenant, the landlord, the HUD Additional Information

7.¬†¬†¬† PART 982‚ÄĒSECTION 8 TENANT-BASED ASSISTANCE: HOUSING CHOICE VOUCHER PROGRAM

8.    quiz

American with Disabilities Act

1.    Disability

2.    companies whom must abide by ADA

3.    U.S. Equal Employment Opportunity Commission

4.    Undue Hardship

Module Quiz

 

 

 

MODULE SIX: Antitrust

 

Introduction to Antitrust

 

Guide to Antitrust

1.    Sherman Act of 1890

2.    Clayton Act

3.    FTC Role in Real Estate Competition

4.    Robinson-Patman

5.    Fred Meyer Guides

Famous Antitrust Lawsuits

1.    Rockefeller’s Standard Oil

2.    Microsoft

3.    AT&T

4.    Kodak

CHRISTOPHER MOEHRL Lawsuit

1.    Basis for suit

2.    Basis for relief sought

3.    Class Action Complaint

4.    Plaintiffs and Defendants

Module Quiz

 

 

 

MODULE SEVEN: Intra/Inter Office Confidentiality

 

Introduction to Intra/Inter Confidentiality

 

Intra Office Confidentiality Overview

1.    confidentiality training

2.    exit procedures

Data Breach ‚Äď PROTECTING PERSONAL INFORMATION

1.    safeguarding data

2.    data protection

3.    electronic security measures

Cyber Security Glossary

1.    Adware

2.    Anti-Virus Software

3.    Application

4.    Attachment

5.    Authentication

6.    Authorization

7.    Backdoor

8.    Backup

9.    Bad-ware

10. Bandwidth

11. Blacklisting Software

12. Blended Threat

13. Blog

14. Broadband

15. Browser

16. Brute Force Attack

17. Clear Desk Policy

18. Clear Screen Policy

19. Cookie

20. Credit Cyberbullying

21. Card

22. Cyberbullying

23. Debit Card

24. Denial of Service Attack

25. Dictionary Attack

26. Digital Certificate

27. Domain Hijacking

28. Domain Name System (DNS)

29. Dumpster Diving

30. Electronic Infections

31. Encryption

32. End User License Agreement (EULA)

33. File-Sharing Programs

34. Firewall

35. Flooding

36. Grooming

37. Hacker

38. HTTPS

39. Hybrid Attack

40. Instant Messaging (IM)

41. IP (Internet Protocol) Address

42. Internet Service Provider (ISP)

43. Keystroke Logger

44. Malware

45. Man-In-the-Middle Attack

46. Monitoring Software

47. Network

48. Operating System (OS)

49. Password

50. Password Cracking

51. Password Sniffing

52. Patch

53. Phishing

54. Pharming

55. Router

56. Script

57. Shoulder Surfing

58. Skimming

59. Social Engineering

60. Social Networking Websites

61. Spam

62. Spim

63. Spoofing

64. Spyware

65. SSL (Secure Socket Layer)

66. Trojan Horse

67. URL

68. URL Obfuscation

69. Virus

70. Vishing

71. Vulnerability

72. Whitelisting Software

73. Worm

74. Zombie Computer

75. quiz

Securing Wireless Networks

1.    risks to wireless networks

2.    plan for minimizing risks to wireless networks

Module Quiz

 

 

 

What have you learned?

Open Ended Question

 

 

MODULE EIGHT: Environmental Hazards

 

Introduction to Environmental Hazards

 

The Comprehensive Environmental Response, Compensation, and Liability Act

1.    What is Superfund?

2.    National Priorities List

3.    Superfund Remedial Investigation/Feasibility Study (Site Characterization)

4.    Superfund Site Reuse/Redevelopment

5.    Superfund History

Superfund in Mississippi

1.    List of Superfund Sites in Mississippi

2.    News Releases from Region 04

3.    Grenada Manufacturing, LLC, Facility Cleanup and Environmental Studies in Grenada, MS

4.    MISSISSIPPI PHOSPHATES CORPORATION
PASCAGOULA, MS

Mold

1.    Moisture Control

2.    Resources for Flood Cleanup and Indoor Air Quality

3.    Flood Cleanup РProtecting Indoor Air Quality

4.    What is mold?

5.    How do molds affect people?

Radon

1.    Radon is a health hazard with a simple solution.

2.    Protect Yourself and Your Family from Radon

3.    More Ways to Take Action

 

Lead Based Paint

1.    What is lead based paint?

2.    Where is lead found?

3.    Who is at risk?

4.    What are the health effects of lead?

a)    Children

b)    Pregnant Women

c)    Older Adults

Renovation and Demolition Requirements / Asbestos

1.    Where Can I Find Asbestos?

2.    Where asbestos may be found:

3.    How Can People Be Exposed to Asbestos?

4.    Health Effects from Exposure to Asbestos

5.    Disease symptoms may take many years to develop following exposure.

6.    Three of the major health effects associated with asbestos exposure

7.    Operations and Maintenance (O&M) Guidance

The Flint Drinking Water Crisis

1.    The Flint Crisis begins

2.    The Leaked Memo

3.    State of Michigan Commitment to the city of Flint

4.    EPA

5.    quiz

Module Quiz

 

 

 

What have you learned?

 

 

 

 MODULE NINE: Financing the Dream and Keeping the Dream Alive

 

Introduction to Financing the Dream and Keeping the Dream Alive

 

Basic Concepts and Terminology

1.    Abstract of Title

2.    Acceleration Clause

3.    Adjustable Rate Mortgage

4.    Adjusted Gross Income

5.    Adjustment Interval

6.    Amortization

7.    Annual Percentage Rate (APR)

8.    Assessed Valuation

9.    Balloon (Payment) Mortgage

10. Basis Point (bp)1/100th of 1% (0.01%

11. Biweekly Mortgage

12. Bridge Loan

13. Buydown

14. Cap

15. Cash Out

16. Cash Reserves

17. Capital Expenditures

18. Capitalization Rate

19. Cash Reserves

20. Cash to Close

21. Certificate of Eligibility

22. Certificate of Title

23. Closing Agent

24. Closing Costs

25. Closing Documents

26. Closing Statement

27. Collateral

28. Combined Loan-to-Value Ratio (CLTV)

29. Commitment

30. Commitment Fee

31. Commitment Letter

32. Comparables

33. Comparative Market Analysis

34. Conduit

35. Conforming Loan

36. Conventional Mortgage

37. Convertible

38. Co-signer

39. Credit Report

40. Debt-to-Income Ratio

41. Debt Service

42. Debt Service Coverage Ratio (DSC)

43. Declining Percentage

44. Deed of Trust

45. Default

46. Defeasance

47. Deficiency Judgement

48. Delinquency

49. Department of Veterans Affairs (VA)

50. Discount Point

51. Down Payment

52. Due Diligence

53. Due-on-Sale Clause

54. Earnest Money

55. Encumbrance

56. Engineering Report

57. Environmental Report

58. Environmental Risk

59. Equal Credit Opportunity Act (ECOA)

60. Equity

61. Equity Capital

62. Escrow

63. Fair Credit Reporting Act (FCRA)

64. Fair Market Value

65. FHA

66. FHA Loan

67. Flood Certification

68. Floor-To-Area Ratio (FAR)

69. Foreclosure

70. Forward Commitment

71. Freddie Mac (FHLMC)

72. Gift Letter

73. Graduated Payment Mortgages (GPM)

74. Growing Equity Mortgage

75. Hard Money

76. Home Equity Line-of-Credit (HELOC)

77. HUD

78. Index

79. Interest Rate

80. Interest Rate Cap

81. Junior Debt

82. Lease Assignment

83. Lender Buy-Down Mortgage

84. Lien

85. Lifetime Cap

86. Line of Credit

87. Loan Origination Fee

88. Loan-to-Value Ratio (LTV)

89. Lock-In

90. Lock-Out Period

91. Margin

92. Miniperm

93. Mortgage Insurance

94. Mortgage Note

95. Mortgagee

96. Mortgagor

97. Multi-Family Property Class A

98. Multi-Family Property Class B

99. Multi-Family Property Class B

100.                Negative Amortization

101.                Net-Net Lease (NN)

102.                Net-Net Lease (NN)

103.                Non-Recourse

104.                Notice of Default (NOD)

105.                Operating Expenses

106.                Percentage Lease

107.                Phase I

108.                PITI

109.                Planned Unit Development (PUD)

110.                Preliminary Title Report

111.                Prepayment Penalty

112.                Pre-qualification

113.                Principal

114.                Processing

115.                Property Classification

116.                Property Tax

117.                Qualifying Ratios

118.                Rate Lock Option

119.                Re Real Estate Owned (REO)

120.                Real Estate Investment Trust (REIT)

121.                Real Estate Settlement Procedures Act (RESPA)

122.                Recording Fee

123.                Refinance

124.                Rent Step-Up

125.                Reserve Funds

126.                Sale/Lease Back

127.                Satisfaction of Mortgage

128.                SBA

129.                Second Mortgage

130.                Secondary Mortgage Market

131.                Standby Commitment

132.                Structural Report

133.                Subprime Loan

134.                Tax & Insurance Impound

135.                Tenant Improvements (TI)

136.                Term

137.                Title

138.                Title Insurance

139.                Title Search

140.                Transfer Tax

141.¬†¬†¬†¬†¬†¬†¬†¬†¬†¬†¬†¬†¬†¬†¬† Triple ‚Äď Net Lease

142.                Truth-in-Lending Act

143.                Underwriting

144.                Uniform Residential Loan Application (1003)

145.                VA Loan

146.                Workout

147.                Yield Maintenance

148.                Yield-To-Average Life

149.                Yield-To-Call

150.                Yield-To-Maturity

151.                Zero Point Option

Understanding Credit Reports and Scores

1.    At a Glance

2.    Why do credit report scores matter?

3.    Credit Reports

A.    What’s in a credit report

B.    How is my credit used?

C.   Negative information

4.    Chapter 7 Bankruptcy

5.    Chapter 13 Bankruptcy

6.    Charge Off

7.    Requesting a Free Credit Report

8.    Reviewing Your Credit Report

9.    Disputing Errors

A.    Getting Ready

B.    Submitting the Dispute

C.   Waiting for the Mistakes to Get Fixed

D.   If you disagree with the. Results

10. Build Habits for Getting and Keeping Good Credit

Lending Process: Application Through Closing

1.    Borrower

2.    Lender

3.    Loan Officer

4.    Prequalification

5.    Pre-Approval

6.    Loan Application

7.    Loan Approval

8.    Loan Balance

9.    Loan Calculator

10. Loan Guidelines

11. Credit report

12. Fico score

13. Annual Income

14. Disclosure

15. Loan Estimate Explainer

16. Mortgage Closing

17. Origination Fee

18. Discount Points

19. Down Payment

20. Co-signer

21. Co-borrower

22. Joint Loan

23. Monthly payment

24. Second mortgage

25. APR

26. Good Faith Estimate

27. Financing and Credit Laws and Rules

A.    Equal Credit Opportunity Act

B.    Usury

C.   Bait and Switch

28. Truth in Lending

A.    Regulation Z

1)    Trigger Terms

2)    Right of Rescission

29. RESPA

A.    Good Faith Estimate

B.    Closing Disclosure

30. Equal Credit Opportunity

A.    When You Apply For Credit

1)    Creditors May Not

                                          I.         Ask for information about your spouse, except: When Deciding To Grant You Credit Or When Setting The Terms Of Credit, Creditors May Not…

                                        II.         Consider your age, unless:

                                       III.         Consider whether you have a telephone account in When Evaluating Your Income, Creditors May Not…

B.    You Also Have The Right To…

31.         Definitions in the Fair Lending Pamphlet

32.         CFPB/TRID rules on financing and risky loan features

33. Revised Loan Estimate

34.         Underwriting

A.    Underwriter

B.    Qualification Ratio

C.   Back-end Ratio

D.   Front-end Ratio

E.    Capacity

F.    Character

Types of Loans

1.    Mortgage

A.    FHA Insured

1)    How is FHA funded?

2)    FHA Loan Limits

B.    About VA Guarantee Home Loans

1)    Home loan eligibility

2)    VA Home Loan Guarantee

3)    Interest Rate Reduction Refinance Loan (IRRRL)

4)    Native American Direct Loan (NADL) Program

5)    Adapted Housing Grants:

6)    Eligibility Requirements

a)    Certificate of Eligibility

b)    Certificate of Reasonable Value (CRV)

C.   USDA/rural loan programs

1)    FARM OWNERSHIP LOANS

2)    RURAL HOUSING SERVICE

D.   Conventional Loan

E.    Jumbo Loan

2.    Amortization

3.    Blanket Mortgage

4.    Construction Loan

5.    Home Equity Line of Credit

6.    Open Mortgage

7.    Open Ended Mortgage

8.    Package Mortgage

9.    Purchase Money Mortgage

10. Sales Leaseback

11. Shared Equity Mortgage

12. Temporary Loan

13. Wrap Around Mortgage

Module Quiz

 

 

 

What have you learned?

Open Ended Question

 

 

MODULE TEN: Property Condition Disclosure

 

Introduction to Property Condition Disclosure

 

Property Condition Disclosure Law

1.    SELLER’S STATEMENT OF EXCLUSION FROM COMPLETING THE PROPERTY CONDITION DISCLOSURE STATEMENT (PCDS)

2.    SELLER’S STATEMENT OF EXCLUSION FROM COMPLETING THE PROPERTY CONDITION DISCLOSURE STATEMENT (PCDS)

3.    Property Condition Disclosure Statement

Stambovsky v. Ackley and Module Quiz

 

1.    Facts and Prior History

2.    Majority Opinion

3.    Dissenting Opinion

4.    Epilogue

A.    Ghost Stories

5.¬†¬†¬† The house ‚Äď history and today

6.    Facts

7.    Issue

8.    Answer

9.    Conclusion

Module Quiz

 

 

 

EVALUATION

 

Completion

 

 

 

 

 

 

Useful Links

 

 

Download Mortgage Closing Checklist

How You Know You’ve Been Hacked

What To Do When You’ve Been Hacked

What To Do Before You’re Hacked

Protecting Your Business

Federal Trade Commission 

https://www.ftc.gov/news-events/audio-video

 

 

How does Opendoor value my home?

How much does selling to Opendoor cost?

What is an Opendoor home assessment?

What happens to my home after I sell to Opendoor?

How Offerpad makes it easier

RedfinNow

 

Federal Trade Commission Act:

Unfairness Policy Statement,

 National Advertising Division 

Better Business Bureau

Affinity marketing

Advertising

History of advertising

Sex in Advertising

Advertising management

American business history

Brand awareness

Co-marketing

Consumer confusion

Consumer behaviour

Database marketing

Demand chain

Digital marketing

Email remarketing

Family in advertising

History of marketing

List of marketing terms

Loyalty marketing

Macromarketing

Marketing mix

Marketing Management

Marketing research

Marketing strategy

Micromarketing

Media manipulation

Multicultural marketing

Product management

Production orientation

Public Sector Marketing

Real-time marketing

Relationship marketing

Smarketing

Societal marketing

Sustainable market orientation

Visual marketing

HUD’s 2016 Harassment Rule
Sexual Harassment

 

 

PART 982‚ÄĒSECTION 8 TENANT-BASED ASSISTANCE: HOUSING CHOICE VOUCHER PROGRAM

Contents

Subpart A‚ÄĒGeneral Information

Subpart B‚ÄĒHUD Requirements and PHA Plan for Administration of Program

Subpart C‚ÄĒFunding and PHA Application for Funding

Subpart D‚ÄĒAnnual Contributions Contract and PHA Administration of Program

Subpart E‚ÄĒAdmission to Tenant-Based Program

Subpart F [Reserved]

Subpart G‚ÄĒLeasing a Unit

Subpart H‚ÄĒWhere Family Can Live and Move

Subpart I‚ÄĒDwelling Unit: Housing Quality Standards, Subsidy Standards, Inspection and Maintenance

Subpart J‚ÄĒHousing Assistance Payments Contract and Owner Responsibility

Subpart K‚ÄĒRent and Housing Assistance Payment

Subpart L‚ÄĒFamily Obligations; Denial and Termination of Assistance

Subpart M‚ÄĒSpecial Housing Types

Single Room Occupancy (SRO)

Congregate Housing

Group Home

Shared Housing

Cooperative

Manufactured Home

Manufactured Home Space Rental

Homeownership Option

 

 

U.S. Equal Employment Opportunity Commission. http://www.eeoc.gov/laws/types/disability.cfm

AVAILABLE RESOURCES

In addition to a variety of formal guidance documents, EEOC has developed a wide range of fact sheets, question & answer documents, and other publications to help employees and employers understand the complex issues surrounding disability discrimination.

The ADA Amendments Act

Veterans with Disabilities

The Questions and Answers Series

 

Mediation and the ADA

 

HIV/AIDS and the ADA

 

The following documents were developed by the U.S. Department of Justice.

 

The Sherman Antitrust Act of 1890

 

Protecting Personal Information: A Guide for Business, 

  1. Start with security.
  2. Control access to data sensibly.
  3. Require secure passwords and authentication.
  4. Store sensitive personal information securely and protect it during transmission.
  5. Segment your network and monitor who’s trying to get in and out.
  6. Secure remote access to your network.
  7. Apply sound security practices when developing new products.
  8. Make sure your service providers implement reasonable security measures.
  9. Put procedures in place to keep your security current and address vulnerabilities that may arise.
  10. Secure paper, physical media, and devices.

 

 

TAKE STOCK. Know what personal information you have in your files and on your computers.

SCALE DOWN. Keep only what you need for your business.

LOCK IT. Protect the information that you keep.

PITCH IT. Properly dispose of what you no longer need.

PLAN AHEAD. Create a plan to respond to security incidents.

 

ADDITIONAL RESOURCES

These websites and publications have more information on securing sensitive data:

Start with Security
www.ftc.gov/startwithsecurity

National Institute of Standards and Technology (NIST)
Computer Security Resource Center
https://csrc.nist.gov/

SANS (SysAdmin, Audit, Network, Security) Institute
Critical Security Controls
www.sans.org/top20

United States Computer Emergency Readiness Team (US-CERT)
www.us-cert.gov

OnGuard Online
www.ftc.gov/OnGuardOnline

Small Business Administration
www.sba.gov/cybersecurity

Better Business Bureau
www.bbb.org/cybersecurity

List of Superfund Sites in Mississippi

Region

State

EPA ID

Site Name

NPL Status

SAA?

4

Mississippi

MSD004006995

AMERICAN CREOSOTE WORKS INC (LOUISVILLE)

Final

No

4

Mississippi

MSD008154486

CHEMFAX, INC.

Final

No

4

Mississippi

MSD046497012

DAVIS TIMBER COMPANY

Final

No

4

Mississippi

MSD980710941

FLOWOOD SITE

Deleted

No

4

Mississippi

MSD990866329

KERR-MCGEE CHEMICAL CORP ‚Äď COLUMBUS

Final

No

4

Mississippi

MSD980840045

NEWSOM BROTHERS/OLD REICHHOLD CHEMICALS, INC.

Deleted

No

4

Mississippi

MSD065490930

PICAYUNE WOOD TREATING SITE

Final

No

4

Mississippi

MSD056029648

POTTER CO.

Proposed

No

4

Mississippi

MSD000272385

RED PANTHER CHEMICAL COMPANY

Final

No

4

Mississippi

MSD086556388

SONFORD PRODUCTS

Final

No

4

Mississippi

MSD000828558

SOUTHEASTERN WOOD PRESERVING

Final

No

4

Mississippi

MSD980601736

WALCOTTE CHEMICAL CO. WAREHOUSES

Deleted

No

Region

State

EPA ID

Site Name

NPL Status

SAA?

 

 

Flood Cleanup and the Air in Your Home Booklet (PDF)

Asthma Website

Centers for Disease Control and Prevention mold website.

EPA page

http://www.michigan.gov/flintwater