VanEd Newslog

FHA announces it will require 1004MC form beginning April 1st

HUD and the FHA announced last week that the new Fannie/Freddie 1004MC form will also be required for all appraisals beginning April 1st. The release from FHA reads in part:

"...In order to ensure greater transparency and accuracy of appraisals performed for FHA-insured financing, FHA will adopt the Market Conditions Addendum (Fannie Mae Form 1004MC/ Freddie Mac Form 71, released November 2008).

For all appraisals of properties that are to be security for FHA-insured mortgages and that are performed on or after April 1, 2009, the appraisal must include the Market Conditions Addendum."

VanEd's 100% online course is all it takes to understand what Fannie/Freddie and now the FHA want, and learn exactly how to give it to them.

CLICK TO LEARN MORE

Online Course Features

• Low Price: $69.95 - click here to learn how you can receive an additional $20 off!

• step-by-step guide through the 1004 MC form
• examples for every field, and model comments for each narrative field
• interactive case study - complete and verify an example form online
• complete coverage of new and updated Fannie Mae policies
• there is NO continuing education credit associated with this course
• Developed by Henry S. Harrison, MAI, SRPA, ASA, IFAS, DREI

Finance Friday: Understanding The Credit Crisis

In looking for an easy to understand explanation of how the Credit Crisis came forward we came upon this website and video: "The Crisis of Credit" by Jonathan Jarvis. It is a visual and audio representation that attempts to clarify what the credit crisis is and how it happened.

For many the credit crisis is easy to understand. Less income and higher expenses, or a reduction in available credit that impacts the bottom line of an individual or family. But some have been asking "what's the big picture?" which this video helps to clarify.

The Crisis of Credit Visualized from Jonathan Jarvis on Vimeo.

New law requires Carbon Monoxide detectors in New and Re-sale homes

Gov. Bill Ritter of Colorado signed a bill into law that requires carbon monoxide detectors to be installed in many Colorado residential properties. The bill requires that homes and apartment buildings offered for sale after July 1st, 2009 to have the detectors on every floor near bedrooms. Installation of detectors is mandatory for;

• New homes
• New apartment buildings
• Homes and Apartment buildings for sale
• Vacated apartments that are to be rented

House Bill 1091 further requires that property owners install detectors when completing major property renovation work or home additions. The Colorado Association of REALTORS has developed a program to help members order detectors at a discounted price. Click here to view the CAR Carbon Monoxide Alarm Program flier. 

Colorado Mortgage Brokers license examination deadline approaching quickly

For Mortgage Brokers in Colorado who have not yet completed their required education and examination, time is quickly running out. In an emergency rule published on December 1st, the Colorado Division of Real Estate created an extension process for mortgage brokers who failed to comply with the education and examination requirements put in place in 2008.

The process includes completing an education extension request form and paying a $100 administrative fee. The Mortgage broker would then be eligible for an extension until March 31, 2009 to pass the written examination and education requirements. The rule also states that those mortgage brokers who fail to comply with either the education and examination requirements or the extension process will be subject to a minimum $500 increase in license renewal fees to cover the increased administrative burden.

VanEd has learned that all of the PSI testing centers are either full or filling up quickly for March testing dates. We urge all Mortgage Brokers to complete their education as quickly as possible in order to be uploaded for the exam. VanEd will upload our students as quickly as possible once your coursework is complete.

After March 31st, you will still be able to take the state exam, but your license may be subject to inactivation by the Division of Real Estate. You may also be subject to increased fees of up to $500 to reinstate your license to active status. To read the extension rule or to download the appropriate forms, click here.

If you have questions, email us at info@vaned.com.

Building Green courses updated for 2009

Need CE credit?  Catch the GREEN WAVE!  Our popular Building Green courses have been updated for 2009:  Building Green: The High Performance Home for 4 hours of credit and Building Green: Marketing the High Performance Homefor 3 hours of credit are available anytime online at VanEd.

With universal concern about global warming and ever-rising energy costs, the time is right to build energy efficient, eco-friendly homes.  Discover the practical benefits of going green and what it means to builders, buyers and sellers alike. 

CLICK HEREto login to your VanEd account and enroll today!

If you have questions about your education requirements or any of our courses, please feel free to contact us, info@vaned.com. 

CRS, Certified Residential Specialist program available online at VanEd

Van Education Center continues to offer two online CRS, Certified Residential Specialist eLearning courses. CRS training will give you in-depth knowledge about business planning, negotiating and closing smoother transactions.  The rigorous educational and production requirements ensure that those who achieve the CRS designation are some of the most dedicated and respected agents in the industry.

VanEd offers two online CRS eLearning courses, Creating Value for Your Clients and Putting Technology to Work for Your Clients. Both courses can be used to help fulfill Core education requirements required to earn the CRS designation. Click Here to review the education and production requirements. Courses may also qualify for CE Credit in some states.

To learn more about the CRS designation and the two available eLearning courses, visit VanEd's CRS Designation Page online by Clicking Here!

2009 REALTOR® Rally to be held April 9th

Registration for the 2009 REALTOR® Rally to be held in Denver at the Colorado Convention Center on April 9th remains open. More than 225 exhibitors and 3,000 real estate professionals attend the rally, and this year the rally features two keynote speakers; Larry Kendall and Lawrence Yun, NAR Chief Economist.

The day will also feature ongoing education sessions and a chance for real estate professionals to learn about new products and services, network with other industry professionals and to gain timely knowledge that will help practitioners immediately in the field.

This years rally is scheduled from 7:30am - 3:30pm April 9th, 2009. Registration is $25 in advance. Register online today by Clicking Here! And don't forget to stop by the VanEd booth to register to win free online Continuing Education courses and learn what's new in education.

Designation Spotlight: MRE, Master of Real Estate

What three things do consumers desire in a real estate professional? Trustworthiness, Representation and Communication, which are the hallmarks of the MRE, Master of Real Estate professionals.

The MRE designation is an education based program that requires a candidate continue their personal education beyond any mandatory requirements or statutes. The program is flexible, allowing for different students to complete a varying group of courses to earn the designation. Courses in the program are broad based and cover numerous real estate areas, such as Planning, Commercial and Negotiation. Students are also able to complete top National coursework and earn credits towards the MRE designation.

As new market economies push real estate professionals into new and unfamiliar areas, it becomes more evident that those who have continued to educate themselves beyond any minimum standards will have an edge on the competition. Learn more about the MRE, Master of Real Estate designation, requirements and courses by visiting the MRE website at www.RealEstateMRE.com today!

VanEd is proud to be the online provider to the MRE program and host to numerous continuing education courses within the program.

CREC completes E&O Audit - inactivates thousands

The Colorado Division of Real Estate recently completed an audit of real estate licensees E&O Insurance and found that up to 6,000 licensees were identified as being without proper coverage. Licensees were notified and given until February 1st, 2009 to obtain proof of coverage. Those who did not comply were inactivated.

If your license came up as non-compliant and was placed on inactive status, you can correct the issue. You will need to purchase E&O insurance and submit proof of this along with form REC-BL and a fee of $50 to the division. This will return your license to Active status.

If you purchased a policy on or before January 31st, 2009 you may submit proof of coverage to the division by fax to (303) 894-2683 and your record will be corrected. If your carrier is other than Rice or William's Underwriting you will also need to fill out the "Independent Coverage Certificate" located on the DRE website and submit that form as well.

The DRE has made the list of licensees that they do not have proof of coverage for available and CAR has placed that online. Please verify that you are not on the list provided below. If so follow the instructions above to correct your license status.

Download the Inactive list to view the list of licensees without E&O coverage placed on Inactive status or to verify your name is not on the list.

Click Here to open the Independent Coverage Certificate If you purchased E&O on or before 1/31/09 and need to file it with proof of coverage.

If you have not yet purchased E&O insurance Click Here to open the REC-BL form that will need to be submitted with proof that you purchased E&O insurance coverage after January 31st, 2009. Send to the DRE with $50 in order to activate your license.

Accessing Investor Buyers

Tired of bad news about today’s marketplace? Wondering where all the money has gone? Despite recent market decline, most investors still have substantially more cash in their retirement accounts than in their personal coffers. Many are anxious to begin rebuilding their wealth and this time they are seeking hard assets like real estate in addition to or instead of the paper assets that recently betrayed investor trust.

By learning about the needs of the investor buyer and the available liquidity in the self-directed IRA market, you stand to position yourself miles above your colleagues.

You do not need to be an investment real estate or retirement planning expert to begin reaching out to these investors. Begin your education in investment real estate today with a wide range of educational resources that will help you grow your skills and transform your business to profit from today’s current real estate climate. Entrust is offering two brand new online educational seminars in March teaching professionals how to:

•    Learn the basics about self-directed and real estate IRAs
•    Educate your clients about the ability to use their retirement funds to purchase real estate
•    Provide a higher level of service to your clients with your knowledge on alternative funding sources
•    Access this highly liquid, qualified and savvy buyer base
•    And build your book of business – no matter the market conditions!

Register for one of Entrust's upcoming educational webinars at www.NewDirectionIRA.com or take our eight hour MRE course online at VanEd and place your business in a position above the rest of the field.

Guest Authors Bill Humphrey and Catherine Wynne are Principals with Entrust New Direction IRA. Reach them online at www.newdirectionira.com.