Download the Form This form is used by a loan broker or lender when processing a mortgage application, to inform the borrower of adverse action taken on their application. Your use of RPI Form 219 The consumer mortgage...
Read MoreDownload the Form This form is used by a borrower, on their agent’s recommendation, when the borrower receives a negative credit score usage notice in response to their application for a consumer mortgage, to provide the...
Read MoreDownload the Form This form is used by a mortgage loan originator (MLO) when processing a consumer mortgage application, to notify the borrower of the lender’s obligation to disclose the borrower their credit scores and...
Read MoreDownload the Form This form is used by a mortgage loan originator (MLO) after receiving an applicant’s credit report and prior to closing, to disclose to the applicant their credit scores and the Credit Bureaus which...
Read MoreDownload the Form This form is used by a loan broker or carryback seller and their agent when arranging a mortgage loan or carryback note on a sale and needing a determination of the borrower’s/buyer’s...
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A mortgage loan originator (MLO) processing an SFR mortgage application pulls a credit report, advises the applicant of the credit agency’s score and any derogatory financial information which suggests adverse action on the application. Critical to approval, the applicant provides the MLO with explanations for the derogatory items so the MLO can process the application.
Read MoreDownload the Form This form is used by a mortgage holder when the owner of a mortgaged property defaults and faces loss of the property by foreclosure, to transfer ownership of the property to the lender in exchange for the...
Read MoreDownload the Form This form is used by a buyer broker when preparing an offer for their buyer-client to purchase an interest in one-to-four unit residential property with short sale contingency provisions. Your use of RPI Form...
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Alternative methods to a foreclosure sale on mortgaged property include a short sale and a deed-in-lieu of foreclosure. RPI Form 150-5 allows a buyer to purchase a property when the mortgage holder agrees to take a reduced payoff to satisfy the debt and clear title. RPI Form 406 allows an owner to deed their property directly to their mortgage holder.
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Learn to explain to your buyer and tenant clients the provisions contained within the buyer representation agreement and tenant representation agreement.
Read MoreDownload the Form This form is used by a group of individuals employed by the same broker to form a real estate Team and set out each member’s obligations and fee sharing as DRE-licensed team members. Your use of...
Read MoreDownload the Form This form is used by a corporate broker entity when employing an individual broker as its designated officer, to establish their duties as the designated officer and the fee schedule for their earnings. ...
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A corporate broker uses RPI Form 511 to establish a corporate broker-officer’s duties and fee schedule for earnings as designated officer of the real estate corporation and licensees held under the same broker use RPI Form 512 to form a real estate team and establish each team member’s responsibilities and fee sharing.
Read MoreDownload the Form This form is used by a seller or seller agent when marketing for a one-to-four unit residential property located in a high or very high fire hazard severity zone and constructed before January 1, 2010 or...
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A seller agent uses the Natural Hazard Disclosure Statement to disclose the existence of natural hazards on the sale of any type of real estate to a prospective buyer and the Fire Hardening and Defensible Space Disclosure Statement when the property is in a high fire hazard severity zone to disclose retrofits, local vegetation management ordinances and fire hardening measures the buyer is to consider.
Read MoreDownload the Form This form is used by an agent when employed by a client under an existing representation agreement that has been terminated by mutual agreement, to document the agreed-to termination of the employment, cancel...
Read MoreDownload the Form This form is used by an agent when the terms of an existing representation agreement with a buyer, seller, landlord, tenant, borrower or lender are modified, to document the agreed-to modification of the...
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After entering into a representation agreement with a client, an agent uses the Modification of Representation Agreement to change the terms of the employment without canceling it and to terminate the authorization to represent, an agent uses the Release and Cancellation of Representation Agreement.
Read MoreDownload the Form This form is used by a leasing agent or landlord as an addendum when the landlord negotiating a commercial lease wants flexibility for meeting lender demands for mortgage financing, to add provisions in an...
Read MoreDownload the Form This form is used by a leasing agent or landlord as an addendum when the landlord negotiating a commercial lease is concerned about the tenant selling their business or their leasehold to another operator, to...
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