Courses

What makes the FACS course so valuable and different from other courses?

Mortgage Resolution Services is the nation’s Short Sale expert. We work with lenders negotiating and closing Short Sale transactions nationwide on a daily basis. This means our FACS instructors are not just instructors, they are active short sale processors in direct, consistent contact with lenders and involved in real Short Sale transactions. The result is a FACS course that lives, breathes, and changes with the market. When attitudes of lenders change, procedures are modified, or requirements are altered, you will learn about it and can be the first to take advantage of or adjust your practices to the changes in order to succeed.

What is covered in a typical course?

Based on our daily conversations with lenders, the FACS course covers key issues that are vital to your day-to-day business over the next few years. Below are some examples:

1. Can a lender sue your client or seek a deficiency judgment in a short sale or foreclosure?

2. Will homeowners have a tax-related exposure or receive a 1099?

3. Can an agent write in a purchase contract for lender approval within 45 days?

4. Will the dramatic change in the political climate induce lenders to approve short sales in a timelier manner?

5. My sellers want to stay in their home, but they do not qualify for a short sale. Do they have options?

6. Is it true my clients should speak to a bankruptcy attorney in a short sale or if they go through a foreclosure?

7. How do I know which lenders participate in short sales?

8. Do lenders require homeowners to be late on payments to do a short sale?
Should I tell the seller to stop making payments?

9. Should I get my hardship package to the lender before I take the listing to make sure it’s complete?

10. Are there any risk management issues that I should be aware of in the short sale process?

11. Are there any tips to help save agent commissions?

12. What are the definitions of a pooling and service agreement and how it may or may not dictate the overall process of the short sale?

13. What are some viability formulas for settling with junior lien holders including non-mortgage lien holders?

The FACS course is the only national Short Sale course that can be taken in one day for half the price of most other Short Sale certification courses and still carries the highest level of Short Sale education.

What is the course format?

Unlike typical instructor led certification courses, which include a teacher as the fountain of knowledge, a room where chairs are bolted to the floor facing the teacher, and material that students are told to read and quietly absorb on their own, this FACS course is designed to model real life.

Outside of school, agents usually work as a team with a shared goal. When an individual wins so does everyone on the team. In fact in the real estate and loss mitigation world, there are usually small teams embedded inside larger teams, and at every level the goal is to make everyone successful. FACS is similar. In a FACS course the audience is required to form small focus groups and work as teams. Interaction with each other and the instructors is paramount. Knowledge is shared, discussed, dissected and then put into practice to solve real life scenarios. Your practical knowledge and strategies that can be used to make you succeed is compounded in the FACS course, because what you take away is an amalgam of what you, your team, and your instructor share and discuss.

What happens after the course?

With a FACS Certification of Completion agents will be ready to take on new opportunities to help homeowners and successfully close Short Sale transactions. In addition, you will have access to our Mortgage Resolution Services’ senior short sale processors at all times to help plan the success of your next transaction.