Episode 103 - Real Estate Exam Questions: Real Estate Finance, Lending & Math, Part 2

Going through state exam questions to help real estate students pass their state exam.

01:35 – Thank you for helping me reach 500,000 downloads!!

02:40 – Find you support system to get you through the class, the exam, and your career.

05:55 – List of recent grads: Andrea, Dylan, Matt, Karina, Iris, Ricardo, Yadira, Miracle, Jennifer, Brittany, Antonio, Dominic, Ashley, Kristian, Halie, Rikkel, May, Blanca, Mayra, Chellsea, Marilyn, Leslie, Talia, Max, Danielle, Madelene, Sherry, Brooklyn, Gracelyn, Dar, Lillian, Alexander, Carmen, Tosin, Davonnia, Micah, Maria, Marcus, Lawrence, Bernadine, Fabiola, Ana, Jose, Natasha, Rachel, Alicia, Abby, John, Jason, Brandon, Oliver, Karla, Erin, Ameca, and Scott.

07:40 – Listener Messages from Matt and Karina.

12:05 – Episode Focus: Finance and lending in real estate, part two.

12:45 – Primary versus Secondary mortgage market.

15:40 – Loan to Value; LTV; loan and downpayment.

23:40 – Private Mortgage Insurance (PMI) and Mortgage Insurance Premium (MIP); Homeowner’s Protection Act of 1998; Conventional loan; loan amount higher than 80% or downpayment lower than 20%.

27:25 – FHA and VA loans; insured versus guaranteed loans.

30:10 – Loan types: straight loan, adjustable-rate mortgage (ARM; index, margin, and rate caps), balloon loan, reverse mortgage, package loan, blanket loan, wraparound loan, home equity loan (HELOC), bridge loan, and buydown mortgage.

53:20 – Truth In Lending Act (TILA) and Regulation Z; applies only to residential loans; annual percentage rate (APR), three day right of recission; advertising; trigger terms.

1:04:10 – Reach out to me if you are seeing questions about credit scoring and/or loan underwriting.

1:05:15 - Exam questions

1:26:45 – July’s episode is all about appraisal and valuation; income approach, and other appraisal terms you will need to know to pass the real estate exam.

Go to www.ahareep.com and sign up for the program for only $35, use discount code: legendary15 to save 15% off.

Go to www.indianarealestateinstitute.com for Indiana real estate classes.

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Episode 102 - Real Estate Exam Questions: Real Estate Finance, Lending & Math, Part 1

Going through state exam questions to help real estate students pass their state exam.

02:05 – B’s Message: Making mistakes is better than faking perfection.

06:30 – List of recent grads: Andrea, Joyce, Lynn, Adrienne, Abigail, Jessica, Angela, Sara, Marquita, Kimmy, Bruno, Eric, Jennifer, Rina, Daisy, Sabrina, Shauna, Marie, Anne, Renae, Staci, Samantha, Joey, Steven, Barbara, Tina, Elizabeth, Karen, Ashley, Lewis, Veronica, Adam, Delaney, Dianna, Claudia, Bryant, Perry, Melissa, Sheila, Tina, Frank, Lane, Daniel, and Jade.

08:30 – Listener Message from Andrea

12:20 – Episode Focus: Finance and lending in real estate, part one. Part two will come out in June.

14:00 – PITI payment; Principal, Interest, Taxes, and Insurance.

18:15 – DTI; Debt to Income ratio.

21:35 – Promissory note; IOU; contract between the borrower and the lender.

24:10 – Mortgage – verb and noun (lien); hypothecation; mortgagor and mortgagee; lien theory versus title (trust) theory.

31:55 – Interest payments; Formula: Loan amount x Periodic Interest Rate = Periodic Interest Payment; interest rate is almost always expressed as an annual rate.

37:40 – Discount point; increases yield to lender; reduces interest rate paid by borrower; value of a discount point; Formula: Loan Amount x Discount Point (as a percent) = Cost of Discount Point.

46:55 – Mortgage clauses: acceleration clause, defeasance clause (satisfaction of mortgage), and alienation clause.

52:15 – Foreclosure: judicial versus non-judicial; deed in lieu of foreclosure; short sale; redemption (equitable right versus statutory right); deficiency judgement.

1:00:25 – Exam questions

1:34:20 – June episode is part 2; LTV (loan to value), loan types, and governmental regulations (RESPA and TILA).

Go to www.ahareep.com and sign up for the program for only $35, use discount code: legendary15 to save 15% off.

Go to www.indianarealestateinstitute.com for Indiana real estate classes.

A-Ha LINKS

Email

info@ahareep.com

Web

www.ahareep.com

Facebook

https://www.facebook.com/AHA.REEP

YouTube

https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A

Episode 101 - Real Estate Exam Questions: Fair Housing

Going through state exam questions to help real estate students pass their state exam.

03:00 – Message of kindness and respect. Open your mind!

09:50 – List of recent grads: Brandon, Elmer, Bronda, Cindy, Layton, Maxwell, Dillon, Philip, Alayna, Michael, Angela, Cullen, Avery, Barrett, Nanticia, Kyle, Raven, Whitney, Milan, Mandy, Albert, Halim, Janice, Alisia, Claudia, April, Janeva, Martina, Abbey, Ella, Isaiah, Betty, Dana, Juston, Darian, Jennifer, Conner, Richard, Zaria, Ruth, Dajon, Rhonda, Michelle, Morgan, and Kasandra.

11:05 – Message from Brandon.

12:50 – Episode Focus: Fair housing

13:30 – Know the years; Civil Rights Act of 1866; only race was the protected class.

14:35 – Fair Housing Act; Title 8 (VIII) of 1968; race, color, national origin, and religion.

16:10 – Sex/Gender added in 1974; Familial status and disability were added in 1988. Sexual orientation is not a federal protected class.

17:30 – Familial status defined.

19:35 – Disability: physical and mental

21:30 - Reasonable accommodations

23:50 – Security deposit issues.

27:10 – Service animals and how tenant selection and security deposits work.

30:20 – Exceptions to fair housing laws. Discriminatory advertising. Race is NEVER an exception to the fair housing laws.

35:40 – ADA; American with Disabilities Act; workplace, commercial, industrial, retail, and office spaces. 15 or more employees.

37:05 – Fair housing practices: Blockbusting, Steering, and Advertising.

41:35 – Lender issues and fair housing; ECOA (Equal Credit Opportunity Act); added marital status, age, and reliance upon public assistance as protected classes.

44:25 – Redlining.

45:20 – Enforcement is through the Department of Housing and Urban Development (HUD); unless complaint is based upon race, then the complaint goes directly to federal courts.

46:50 – These are the general, federal rules on fair housing. There is more to the federal, state, and local laws. Watch for the distinctions on your questions.

48:40 – Exam questions

1:12:35 – May and June episodes will be a two-part series on lending principles, practices, and math. So much content to cover, I had to split it into two shows. Come back for more to help you pass the real estate exam.

Go to www.ahareep.com and sign up for the program for only $35, use discount code: legendary15 to save 15% off.

Go to www.indianarealestateinstitute.com for Indiana real estate classes.

A-Ha LINKS

Email

info@ahareep.com

Web

www.ahareep.com

Facebook

https://www.facebook.com/AHA.REEP

YouTube

https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A