Education   

TCA 101 - 60 minutes
TITLE COMMITMENT BASICS
Participants review the title commitment format step-by-step and learn how each element can affect a closing. There are six sample commitments to read and interpret based on real-life situations.

TCA 102 - 60 minutes
REAL ESTATE TAXES
Because Cook and the collar counties work on different property tax collection schedules, a lot of mistakes are made quoting prices for Good Faith Estimates. Participants learn to figure escrow impounds and when to add Title Indemnities and Tax Payment Fees. The review includes practice in figuring escrows, and other related pricing.

TCA 103 - 60 minutes
MORTGAGE FRAUD AND MONEY LAUNDERING
(Not a ‘How-To’ Course)
This class covers the basic types of real estate fraud and how to spot fraudulent transactions. It also covers acceptable forms of identification.

TCA 104 - 60 minutes
VESTING
Participants learn about Joint Tenants, Tenants In Common, Tenants by the Entirety, and various Trusts. Each may have an impact on purchase or refinance transactions.

TCA 105 - 60 minutes
HOMESTEAD
Under Illinois’ “Exemption of Homestead Act,” “Rights of Married Persons Act,” and the “Conveyances Act,” courts have given either spouse veto power over mortgage transactions, even when they are not co-borrowers. This class covers the history of homestead rights in Illinois and how to work with borrowers to comply with these three laws.

TCA 106 - 30 minutes
ANNUAL PERCENTAGE RATE (APR)
(When the Government Makes Life Better For Everyone)
Due to the design of the Truth In Lending Disclosure, many borrowers are put off by the ARM. This class explains the background (intent), computation and how to put borrowers at ease when they encounter it.

TCA 107 - 3 hours
PURCHASE TRANSACTIONS
This class is designed for loan originators and processors who work with purchasers. It covers title fees and other purchase-related fees and documents. The review offers several practice problems in estimating buyers’ fees.