6 hours.The purpose of this Seminar is to prepare brokers and mortgage originators for successful completion of the continued education requirements in Finance Area, specially in Foreclosure, Short Sales and REO matters. The seminar is in english.


Welcome to Luis Nieves Institute of Real Estate, Finance & Law's Foreclosure, Short Sales & REO Seminar. In this document, you will learn about the scope of the Seminar, as well as the administrative specifics, such as grading and certificates.
Purpose for the Seminar: The purpose of this Seminar is to prepare brokers and mortgage originators for successful completion of the continued education requirements .
Seminar Description: In order to fulfill the licensing education requirements; you must complete thorough and meaningful training that will meet the 6 hours minimum requirement as well as prepare them for their licensing renovation. This seminar has been developed by industry experts using proven instructional methodologies. This Seminar includes instructor presentation along with engaging handson activities designed to reach all learning styles.
Seminar Objectives: Upon completion of this Seminar, you will be able to:
  • Identify critical aspects of the mortgage industry as a basis for today’s market.
  • Identify key concepts of Foreclosure, Short Sales & REO, the guidelines in place and the risk analysis involved.
  • Roughly define the common terms and concepts associated with the topics of the seminar.
  • Define the ethics of Foreclosure, Short Sales & REO as it relates to laws, fraud, marketing and ethical behaviors.
  • Recognize the purpose and procedures of Foreclosure, Short Sales & REO processing.
  • Identify issues surrounding Foreclosure, Short Sales & REO .
  • Recognize the secondary market’s role and responsibilities.
  • List key characteristics of Foreclosure, Short Sales & REO for each.
  • Define key terminology of the Foreclosure, Short Sales & REO as applicable to today’s market.
  • Identify closing procedures, including settlement, fees, title policies, funding and warehousing.
  • Accurately Pre-Qualify a variety of borrowers and find suitable products for them.
  • Outline “Best Practices” of Foreclosure, Short Sales & REO .
  • Recognize Foreclosure, Short Sales & REO, its different types and its many sources.
  • Know differents documents and agreements of Foreclosure, Short Sales & REO
Seminar Type: ONLINE Classroom, Classroom equivalent.
Seminar Category: On your Own Self Pace
Seminar Length: The Seminar is designed to take 6 hours to complete.
Seminar Deadline: Students must complete all Seminar assignments by the dates assigned to each assignment. The Seminar is structured to be completed within a 0ne (1) month period.
Seminar Materials: All materials required for the Seminar are provided to students at Seminar check in or are contained within the learning management system. No other materials are required. All are reserved and protected under the Intellectual Property registry of Puerto Rico and Library of the Congress
Assessments and Activities: There are learning activities to test your knowledge throughout the 6 Hours Seminar, a final examination to test your overall mastery of the Seminar information. Additionally, interaction between students and the instructor help ensure understanding and retention of knowledge throughout the Seminar. A student must receive a composite score of at least 75% to successfully complete this Seminar. Students must complete individual assignments and assessments independently, without any input from another person. Non-adherence to this is cause for disqualification and immediate failure of the Seminar.
Lead Instructor
Professor Luis Nieves Morillo B.A., J. D. REEA, ARES, SFR, GRI, REALTOR with an experience of 20 years in Real Estate, Banking, Mortgage and Commercial Law, Luis has taught Seminars on all areas of real estate finance including Federal and local Laws in Real Estate, origination, production operations, mortgage loan products, credit scoring, closing, secondary marketing, real estate math, servicing and commercial real estate finance. B.A. University of Sacred Heart, Puerto Rico, Clark University, Worcester, MA., University of Navarre Law School, Spain, Europe Union
Policies regarding attendance and behavior Students are required to attend all sessions of the class to successfully complete the Seminar.
Noncompliance will result in not receiving a certificate of completion, no Seminar refund, and no credit towards licensing requirements. Students are required to manage non-educational distractions such as cell phones appropriately during class time.
Computer and Internet Requirements: Students must have an Internet connection and a computer that is able to support Internet Explorer 6.0 or later versions for Seminars or/and assignments online.
Certificate of Completion: After you have successfully completed all assignments, passed the practice exams, passing final grade of 75% or higher, meet the Seminar time requirements and completed the Seminar evaluation, your 6 Hours Seminar certificate of completion will be send by mail to the postal address you submitted in your information’s profile.
Seminar Evaluation: After you have completed the Seminar, please take a moment to complete the Seminar evaluation. Your feedback will help us improve our Seminars and develop new offerings.
Seminar Support: LNIOED staff is present throughout the duration of the Seminar to provide support onsite. Additionally, support staff is available Monday – Friday from 9:00 a.m. – 5:00 p.m. ET at (787) 942-5858/615-58 or at
Seminar Requirements
To complete your Seminar you must complete the registration form, attend the whole class, and pay the required tuition before the class begins. A student that attends a Seminar must pay the required fee.
NSF Checks
In the event that you pay with a check and it is returned from your bank for “not sufficient funds” we charge a $50 NSF fee to reprocess payment for class registration. In addition, we are unable to confirm your attendance with your state or federal regulator for your class until you have paid for attending the class.
Payment Plan
The registration fee is not refundable and a service fee is added.
Tuition Pricing
All tuition costs are subject to change.
Our purpose as an institution of education licensed by the Puerto Rico General Council of Education (lic. V 80-24) and the Brokers, Salesperson and Enterprises Real Estate Board of Puerto Rico (lic. 76) is to serve anyone 18 years of age or older who can benefit from our Seminars, Trainings and Continuing Education Seminars in the field of Real Estate, Finance and Law.
All Seminars are open to all persons of 18 years of age or older. LNI will not deny admission, base Seminar fees, or base standards for successful completion of a Seminar on a student’s race, color, sex, religion, national origin, handicap, familial status, age, or sexual orientation.
LNI will operate in compliance with all local, state and federal anti-discrimination laws.
Once a student pre-registers for the Seminar and receives a confirmation of the date and the time and the location of the Seminar, the student is thereby admitted to the Seminar subject to all other Seminar requirements as outlined above.
To obtain the pre-registration offer, full payment must be received one business day prior to the first class. Registration can be by mail (money order), Internet Paypal or bank wire transfer to the LNI account of Banco Popular PR or telepago or direct deposit. You will be mailed or emailed a confirmation if time permits.
Late Enrollment And Dropping Class
If you enroll after the first class period, you must promptly make arrangements with the instructor, to complete any of the assignments you have missed. A Recover class will be available. For dropping from the Seminar you should fill a request form.
Cancellation, Refund And Transfer Policies
All requests for cancellations and refunds must be made in writing with the name of the student, name company, subscription number, contact name, Seminar name(s), date/location of event and state the reason for cancellation. Submit your cancellation notice to LNI Customer Service  via e-mail at Please review the policies below before submitting cancellation requests.
LNI understands that extenuating circumstances may require a participant to cancel a Seminar, seminar or event registration. Events include, but are not limited to, conferences, classroom Seminars, instructor-led online Seminars, etc.
Should you need to cancel your registration for an LNI Institute program, please refer to our refund policy below:
  1. Substitutions: If you cannot attend an event that you have registered and paid for, we permit substitutions for alternate attendee(s) from any person you recommend or your organization for no additional charge; however, you must notify LNI Institute prior to the start of the seminar, course or program.
  2. Program Cancellation: In the unlikely event of a Seminar, course or program cancellation, LNI Institute will refund 100% percent of registration fees paid. LNI Institute assumes no liability for any penalty fees or any fees, charges, penalties or other incidental costs that a registrant might incur due to a Seminar, course or program cancellation.
  3. Self-Pace Study Online Seminar Cancellations and Refunds: Registered participants can cancel their attendance for a self-study online Seminar, course or program within 2 days of registration, once have started the seminar, course or program no refund will be granted.
  • An Administration fee of $50.00 will be charged in all other situation.
Seminar Material
Students may receive a workbook, handouts, and other materials as a part of the Seminar, course or program.
Unless otherwise stated, the Seminar, course or program materials are the property of LNI and are not to be reprinted or distributed without permission.
In order to receive a textbook refund it must be returned to LNIOED within 3 days unmarked and not damaged or cost of textbook will be deducted. For any reason any student who registers with partial payment and does not complete the Seminar, course or program no refund. No refund after second transfer or registration has been on hold.
No show no refund. Any registration transferred to ON HOLD prior, during or after class no refund.
Transfer Policy
1. No cost for the first transfer from same program to another. Second transfer $15.00 charge and same for each additional transfer.
2. Program changes for transfers with notice prior to 3 business days is subject to $50.00 fee in all cases.
In the unlikely event that a Seminar is cancelled, for any reason you will be given a complete refund or the opportunity to transfer to another like Seminar at no charge.
Seminar cancellation.
Any student who fails to notify the school within 3 business days prior to start dates no refund. Once any class has begun, no refunds or credits will be provided. If a student is unable to attend a SEMINAR, COURSE OR PROGRAM and has already prepaid for registration, LNI will provide a credit to attend a similar Seminar, course or program with the same number of clock hours. The credit will be valid for up to six (6) months after the date of the originally-scheduled Seminar, course or program. Requests for credit must be made in writing and must include the student’s name, company name, business and home address, phone number, and email address. These requests must be made within 3 business days before the date of the class has started. To use the credit, the student must contact LNI in writing at least 3 business days before the date of the class has started for which they want to use the credit. If, for any reason, LNI cancels a Seminar, course or program, LNI will refund any pre-paid Seminar, course, program registrations within 30 days of the date of the cancelled Seminar.
Causes for Dismissal or Preclusion
An LNI instructor, administrator, or a consultant hired on behalf of LNI may preclude or dismiss a student from the seminar if a student may affect or is affecting the integrity of the learning environment. Conditions for readmission are based on the mutual agreement of the instructor, student and the school administrator.
Attendance Requirements
Attendance will be monitored. Due to the limited number of classes held in this Seminar, and the large amount of material covered during each class date, attendance is required.
Attendance will be taken by Instructor and/or LNIOED Staff at the beginning and the ending of each class.
In the event of an audit, the only proof of attendance is keeping your copy of your work on the roster. Make sure you complies with the instructions at the start and conclusion of the class.
Visually Identify: If a student is attending the Seminar holding a government-issued picture ID card is needed in order for the instructor/ facilitator to visually verify the student. If the student is attending the Seminar from their home or work office, the LNIOED staff and/or Instructors should make use of the web cam and require that the student show their face while also holding a government-issued picture ID card in order for the instructor/ facilitator to visually verify the student.
Reading (material)
At the end of the seminar will be graded
Evaluation Summary
5 items, multiple choice and written
Evaluation of the seminar
90-100 = A       74-70 = D
89-80 = B         69-under = F
79-75 = C
Seminar Component Section 20%, Seminar Uniform Section 80%. lecture and summaries evaluations and the Passing Grade is 75% or higher. Final Examination can be taken many times during the Seminar completion. A – 90-100 pts B – 80-89 pts C – 70-75 pts D – 74-69 pts
The Seminar will have a summary evaluation exam. Passing Grade is 75% or higher.
Certificates of Completion and Record Retention
Certificates of completion will be handed to the student upon completion of all the requirements of the Seminar, upon receipt of full tuition and the completion of the Evaluation Form. Students will be required to sign in at the beginning of class and sign out at the end of class. LNI will maintain student attendance records for 3 years as required by state law and rules. If a student leaves class early, arrives late, or leaves the classroom for an extended period of time, he or she will not receive a certificate of completion. At the conclusion of the Seminar the student has to fulfill a Evaluation Form for the Seminar and instructors as a requirement for the completion of the Seminar.
Record Retrieval and Certificate Re-issuance Fee
“Record Retrieval” includes time spent reviewing any former student’s attendance in a past class. This includes but is not limited to the re-issuance of a certificate of completion. Such service will be charged $15 and payment is required prior to re-issuance. A request for record retrieval and/or certificate re-issuance must be made in writing noting the date, month, year, location, and Seminar name and must include the student’s mailing address. Reissued certificates will be mailed by U.S. post, within 30 days of the date of receipt of the written request. If we do not find a record of your attendance THERE ARE NO REFUNDS of the $15 fee.
Certificate Policy
Seminar Certificates are given after each Seminar to all attendees who have completed all requirements. Protect your certificates. There is a $15 charge for replacement certificates the certificates will say DUPLICATE. And $15.00 for any transcript and letter of assistance.
Completion Policy
1.The student must pay full tuition to begin the Seminar. If the tuition is paid in full the student has one (1) month to complete the Seminar at no additional charge. The 1 (one) month to complete the Seminar begins after completion of the registration in has taken placed and the date of payment has been received otherwise no refund or transfer is available.
2. After date of payment has been received any student willing to retake the Seminar due to any reason and if the period of time extends more than one month since the deadline date for the seminar then the student must pay ½ (one half) price to complete Seminar.
3. In no case will a new text book be issued.
Repeat Policy
No repeat policy applies to the seminar. If the student fails to comply with the requirements within the three month period he shoul take the seminar again. May repeat the Seminar again paying the charge.
Copying and Recording Policy
No Video or documents is allowed to be copied or be reproduced without the corresponding authorization.
Student Conduct
You are expected to be courteous and polite to the instructor, and to your fellow classmates. etc.. All students are encouraged to ask questions.
Students with Special Needs
Notification to LNI of any and all types of personal needs involving physical, emotional, and learning difficulties and/or needs related to the Americans with Disabilities Act is the sole responsibility of the student. While all reasonable efforts will be made to accommodate individual needs, it is conceivable that some conditions and circumstances are beyond our ability.
Students With Disabilities
Reasonable accommodations are available for students who have documented disabilities. Please notify the instructor during the first week of classes about any accommodations you may need. Late notification may result in the accommodations being unavailable.
LNI adheres to a disability policy with relevant federal law. Institute will provide appropriate accommodations as determined by the LNIOED. Students must notify instructors of any permanent or temporary disabilities and must provide documentation regarding those disabilities prior to the granting of an accommodation.
Cheating is unacceptable conduct and will result in an automatic grade of "Incomplete" for the Seminar. Students are required to do all of the work for this class on their own. Copying answers to examinations from anyone constitutes cheating. Allowing another student to copy one's answers will be treated as cheating. A student may discuss cases with others before preparing his or her own answers, but the answers must be each student's own work product. Papers and examinations, whether prepared in-class or out-of-class must be done without consulting other students. Consultation of the instructor at anytime about any assignment does not constitute cheating.
Additional Policies for Students
Students should read the current LNI Catalog and Student Code to become familiar with policies. These policies include but are not limited to grade appeal, sexual harassment, student access to records, and others; policies specified in the current catalog are applicable unless otherwise stated in this syllabus.
LNI adheres to a disability policy which is in keeping with relevant federal law. The Institute will provide appropriate accommodation as determined by the LNIOED Director .
Students must notify instructors of any permanent or temporary disabilities and must provide documentation regarding those disabilities prior to the granting of an accommodation. For assistance, students should consult with LNIOED.
Note: Seminar syllabus are intended to provide students with basic information concerning the Seminar. The syllabus can be viewed as a blueprint for the Seminar; changes in the syllabus can be made and students will be informed of any substantive changes concerning examinations, the grading or attendance policies and changes in project assignments.
Luis Nieves Institute of Real Estate, Finance & Law all Rights are reserved. 2008-2014



Aquí tienes el esquema de la clase:

1. Short Sale, Foreclosure & REO Seminar (English) ( 6 hours)

• Identify critical aspects of the mortgage industry as a basis for today’s market. • Identify key concepts of Foreclosure, Short Sales & REO, the guidelines in place and the risk analysis involved. • Roughly define the common terms and concepts associated with the topics of the seminar. • Define the ethics of Foreclosure, Short Sales & REO as it relates to laws, fraud, marketing and ethical behaviors. • Recognize the purpose and procedures 6 hours of Finance