RE 131 — Mortgage Loan Brokering and Lending
Units: 3 Lecture Hours: 54 Lab Hours: 0 Outside Hours: 108 Grading Method: Letter Credit Status: Credit, degree applicable Conditions of Enrollment: Recommended Preparation: RE 1 1 1 or concurrent enrollment; or California Bureau of Real Estate (BRE) license or equivalent experience; BUS 1 15 This course introduces the student to the principles and operations of the mortgage loan brokering field. The emphasis is on the lending rules for residential property. Students learn lending laws of Regulation Z, usury laws, disclosures, maximum fees and charges, agency relationships, advertising laws, Housing and Urban Development (HUD) and Real Estate Settlement Procedures Act (RESPA) calculations and the loan process. This course partially satisfies the California requirements for the Real Estate Salesperson and California Real Estate Broker licenses. Note: This course is approved by the California Bureau of Real Estate (BRE) as one of the elective courses for the eight statutorily required college- level courses for the broker license and for the salesperson license, which also requires Real Estate Principles and Real Estate Practice.