Adjunct Professor: Vance Powell MAI,SRPA,SRA

E-mail: vpowell@austincc.edu

Pager: 604-6556

PH. # 306-8179

Required Text/Materials: Residential Mortgage Lending, Principles and Practices,

5^th edition- Marshall W. Dennis, Thomas J. Pinkowish

ISBN 0324187181

Office Hours: By appointment only; Either the ½ hour before or following class at the EVC campus.

Course Description: An introduction to the mortgage loan application process. Topics include regulatory compliance and documentation; real estate contracts; the mortgage application process, interview techniques; credit, income and property qualification, quality controls and procedures.

Course Rationale: The purpose of this course is to prepare the student for employment or interacting with the mortgage and real estate industry. This course will help students develop the understanding and skills necessary to become successful mortgage professionals and or consumers. Mortgage Principles are not just about textbook learning: it challenges students to use their critical/creative skills in all aspects of the Mortgage Lending Industry, not just those covered in this course.

Course Objectives: Understand how mortgage and real estate principles are related to other business functions and its importance to the success of the general economy. Be able to identify, analyze, and use sources of local and national mortgage data and local economic information to be successful in the lending industry. Understand good mortgage practices and techniques and how to apply them.

Instructor Objectives: Each student will be able to take the knowledge from the classroom and apply it in the business world toward reaching their Mortgage License and/or goals in the lending professions.

WEEKLY CHAPTER READINGS & QUIZZES

WEEK	CHAPTERS	DUE DATE
1	1, 2,	06/03
2	3, 4,	06/10
3	5, 6	06/17
4	7, 8	06/24
5	9, 10	07/01
6	Mid-Term 1-10	07/08
7	11, 12	07/15
8	13, 14	07/22
9	15, 16	08/29
10	17, 18	08/05
11	FINAL EXAM 11-17	08/12

Course Policies:

A. All cell phones and pagers are to be turned off or to vibrate mode upon entering

classroom.

B. There will be no eating or drinking at any time in the classroom.

Incomplete Policy: An incomplete (I) will be granted to a student in rare circumstances. Generally, to receive a grade of I, a student must have completed all exams and assignments to date, be passing, and have personal circumstance that prevent course completion that occur after the deadline to withdraw with a grade of W.

SERIOUS CONSEQUENCES FOR RECEIVING A “W” IN A COURSE: The Texas Legislature has now, for the second session in a row, instituted some substantial consequences for students who withdraw from courses. Students have traditionally thought of a W as a non-penalty grade, thus it is very important that students understand the direction that the state is going about withdrawals so that they can avoid substantial negative consequences later. The consequences instituted by the state in 2005 are that, for most courses, if a student enrolls for the course for the third time, the student will have to pay substantially more tuition for the course.

C. Withdrawal Policy: It is the student’s responsibility to withdraw from a course. Instructors are allowed to withdraw students but students must not rely on their instructors to withdraw them if they wish to withdraw.

D. Academic Freedom Statement: Each student is strongly encouraged to participate in class. In any classroom situation that includes discussion and critical thinking, there are bound to be many differing viewpoints. These differences enhance the learning experience and create an atmosphere where students and instructors alike will be encouraged to think and learn. On sensitive and volatile topics, students may sometimes disagree not only with each other but also with the instructor. It is expected that faculty and students will respect the views of others when expressed in classroom discussions.

E. Scholastic Dishonest Statement: Acts prohibited by the college for which discipline may be administered include scholastic dishonesty, including but not limited to cheating on an exam or quiz, plagiarizing, and unauthorized collaboration with another in preparing outside work. Academic work submitted by students shall be the result of their thought, research or self-expression. Academic work is defined as, but not limited to test, quizzes, whether taken electronically or on paper; projects either individual or group; classroom presentations, and homework. Violation of scholastic dishonesty will be results in receiving an F on the test and/or project and a possible failure in the course, determined by circumstances.

F. Students with Disabilities Statement: Each ACC campus offers support services for students with documented physical or psychological disabilities. Students with disabilities must request reasonable accommodations through the office for Students with Disabilities on the campus where they expect to take the majority of their classes. Students are encouraged to do this three weeks before the start of the semester.

G. Grading: The tests will account for 90% of the final grade, 10% of the final grade will consist of class participation and any pop quizzes.

RULE OF THREE: Per state law, effective Spring 2006 any student taking a class for the third time or more may be charges an additional $60 per credit hour unless exempted. We call it the Rule of Three. The Texas Higher Education Coordinating Board has mandated that all publicly funded higher-education institutions will not receive funding for courses a student takes for the third time or more. Without the state funding for those affected classes, ACC will charge additional tuition to pay for the cost of the class. The new “Rule of Three” tuition costs will not apply to developmental courses, Continuing Education courses, special-studies courses in which the content changes each time, or other selected courses. For additional information go to http://austincc.edu/admiss/ruleofthree/ In 2007, the state declared that, for incoming freshmen in Fall 2007 and later, there will be a limit of six W’s overall in the student’s college career. http://www.austincc.edu/withdraw/WithdrawalInformation.php

FINANCIAL MANAGEMENT – HOME

http://www.austincc.edu/fima/

Do you need additional information about Mortgage Broker and Loan Officer Licensing, Discontinuance of Paper License, Entity Mortgage Broker License Application, Applying Without a Sponsorship, or Out-of-State Applicants Fingerprints, click to Texas Department of Savings and Mortgage Lending

FINANCIAL MANAGEMENT DEGREE AND CERTIFICATE OPTIONS

Financial Management – Associate of Applied Science Degree
Financial Management – Certificate

Financial Management – If you wish to transfer to a four-year university baccalaureate program you should follow the curriculum for the Business Administration Associate of Science Degree.