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District of Columbia Course: DC Financing Issues/Updates (Make-Up Credit Only)

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DC Financing Issues/Updates (Make-Up Credit Only)

3 Total hours
0 Elective hours
3 Mandatory hours
Please Note: This course only counts as core for the 2015-2017 cycle.

Financing issues can make or break a transaction. A licensee’s knowledge of the current lending market, rules and regulations is crucial to providing current relevant professional experience to consumers. Predatory lending schemes and so-called foreclosure consultants often muddy already murky waters. This course provides licensees with up-to-date know-how in navigating these waters and clearing a path to smooth closings.

Course highlights include:

  • An overview of the subprime market, and how it led to the current lending environment
  • A look a distressed property types, and how to avoid inherent pitfalls of each
  • A primer on the types of scams run on buyers and sellers in a changing market
  • The Protection for Homeowners in Foreclosure Act: how, to whom and when it applies
  • The Housing and Economic Recovery Act: how, to whom and when it applies
  • How and when the FHA 203(k) loan applies, and its financial benefits to borrowers
  • A licensees’ ethical, legal and due diligence roles in distressed property transactions
  • Changes to underwriting guidelines, and how they impact buyers, sellers and lenders
  • Loan limits in DC for conforming, VA and FHA loans
  • New appraisal guidelines and how they benefit buyers
  • DC and federal tax incentives for homeowners
  • The Home Affordable Refinance Program: how and when it applies