Patrick Ritchie

Patrick Ritchie is the author of The Credit Road Map, an in-depth look into how the credit world works. He has spent the past decade as a lender reviewing thousands of credit reports to prepare clients for the underwriting of their loans. Patrick is a guest finance lecturer for the Ohio State University Fisher College of Business and Arizona State University W.P. Carey School of Business. He is an approved instructor with the Arizona Department of Real Estate, Ohio Department of Real Estate, and a Senior GRI finance instructor for the Arizona Association of REALTORS^®. Patrick operates the Ritchie School of Real Estate Finance, which provides continuing education for professional licensing in real estate, financial planning, and accounting. He serves as a member of the USA Today Small Business Panel and is a former Evans Scholar. His book, The Credit Road Map, is approved by the National Association of REALTORS^® and is used in finance and real estate classes at major universities. Internationally, Patrick teaches graduate students from the Korea Advanced Institute of Science and Technology (KAIST) about the American banking and credit system at the Ohio State University. He has spoke at the National REALTOR^® Conference and Expo, many state association functions, and writes articles for REALTOR^® Magazine.

Patrick wrote a foreclosure prevention and response program through a grant from the National Association of REALTORS^® to educate the real estate industry as well as homeowners. Patrick was invited by the Federal Reserve Bank of San Francisco to teach at training workshops for the Arizona and Nevada Foreclosure Prevention Task Forces.

Patrick has a Bachelor of Science in Business Administration from the Ohio State University and a Master of Legal Studies from Arizona State University Sandra Day O’Connor College of Law. He is certified by Westlaw in advanced legal research and holds a certification in the Fair Credit Reporting Act.

Ritchie School of Real Estate Finance

Available CE Classes:

1. Understanding Consumer Credit Rights and Responsibilities (3 Hours R.E. Legal Issues) answers the common questions people have regarding credit (based on the book The Credit Road Map): Exp. 4/30/12

• Consumer rights under the Fair Credit Reporting Act
• Reading a credit report
• Credit scoring
• Improving the overall credit profile

2. Mortgage Loss Mitigation: Intro to Short Sales(3 Hours R.E. Legal Issues) gives you a working knowledge of how to help a homeowner in financial crisis. Whether you intend on working with short sales or not, this course will give you the knowledge to discuss options with clients as well provide full explanations to the questions people have about short sales: Exp. 11/30/13

· Working with non-profits to negotiate with lenders

· Mortgage Loss Mitigation Options

· Credit Report and Score Ramifications

· Financial Hardship Package

3. Understanding FHA Home Loan Guidelines and Policies (3 Hours General) educates REALTORS on working with FHA home loans: Exp. 4/30/13

• Overview of the Federal Housing Administration
• Credit analysis for FHA
• Borrower qualifying
• Underwriting and appraisal requirements

4. Guerrilla Marketing Business Plan (3 Hours General) gives a marketing/business plan that will be the cornerstone of a Real Estate career: Exp. 2/28/13

• High-impact, low-cost marketing
• Boost profits without spending a lot of money
• Work 10 times smarter instead of 10 times harder
• Attendees leave with a written business plan for their business

5. Identity Theft Prevention and Response (3 Hours General) gives an overview of dealing with identity theft: Exp. 3/31/12

· Provide each attendee with the knowledge and resources to prevent and respond to identity theft issues.

· Highlight the specific steps necessary for an identity theft victim to take in order to correct the circumstances.

· Explain the obligations of various parties such as creditors, credit bureaus and law enforcement agencies in regards to identity theft.

· Attendees will be able to explain to clients how to combat the challenging nature of identity theft.

6. Understanding Mortgage Disclosure Forms (3 Hours Disclosure) equips REALTORS with the knowledge to answer the question “What am I signing”? : Exp. 8/31/12

• Full explanations of each mortgage disclosure form will assist in combating mortgage fraud and reduce buyer confusion.
• The primary disclosures covered are for Conventional, FHA and VA mortgages.
• Explains the industry standards, when and why the documents must be signed.

7. Avoiding Fraudulent Foreclosure and Debt Rescue Operations (3 Hours Legal) is designed to train REALTORS^® in recognizing and identifying financial scams preying on distressed property owners. Homeowners facing the likelihood of foreclosure are more susceptible to con artists, thieves, and scammers than any other consumer group. This course is part of the National Association of REALTORS^® Foreclosure Prevention and Response (FPR) Program presented in Arizona: Exp. 11/30/13

• Guidance from the Federal Trade Commission regarding fraudulent foreclosure rescue scams
• Legal loopholes scammers are using
• Calling out the scam, where to turn
• Case studies of foreclosure rescue investigations and convictions

8. Options for a Troubled Homeowner (3 Hours Legal) is designed to train REALTORS^® in all legitimate available remedies to avoiding a foreclosure including a short sale and other loss mitigation techniques. This course is part of the National Association of REALTORS^® Foreclosure Prevention and Response (FPR) Program presented in Arizona: Exp. 2/28/14

• HUD approved counseling agencies as a champion for the consumer
• National Consumer Law Center recommendations for preventing foreclosure
• Loan modification guidelines set forth by the U.S. Treasury Department
• Preparing for and submitting a short sale

9. Credit and Legal Ramifications in a Mortgage Crisis (3 Hours Legal) is designed to train REALTORS^® about the inner workings of credit, addressing damage from a mortgage crisis, possible legal ramifications, and/or future collection actions from third parties. This course is part of the National Association of REALTORS^® Foreclosure Prevention and Response (FPR) Program presented in Arizona: Exp. 4/30/14

• Overview of the credit system and how the score is derived
• Overview of the Fair Credit Reporting Act and the protections afforded consumers
• What to do when facing possible legal ramifications stemming from debt
• Handling future collection attempts by third-parties which have purchased discharged or settled debt at pennies on the dollar

10. Rebuilding and Qualifying After a Financial Crisis (3 Hours General) is designed to train REALTORS^® in directing those who have gone through a failure to meet the obligation of a note, including foreclosure, short sale, loan modification, or bankruptcy, on how to rebuild in order to qualify for a future home purchase. This course is part of the National Association of REALTORS^® Foreclosure Prevention and Response (FPR) Program presented in Arizona: Exp. 2/28/14

• Guidelines for residential mortgage in regards to past severe delinquencies
• Strategies for rebuilding credit after a major financial crisis
• Step-by-step analysis of the course of action after the crisis
• Case studies on real people who have made the comeback to overcome past financial turmoil

11. Budgeting for Opportunity & Survival (3 Hours General) gives a budgeting plan that will help a prospective home buyer put themselves in a better position to afford a home. The course also reviews survival budgeting methods for current homeowners who are in difficult financial circumstances: Exp. 5/31/14

· Budgeting as an important step toward financial planning

· Budgeting tips and worksheets for clients

· Controlling spending and getting the most from your budget

· Strategies to deal with debt trouble

12. Agency Tales from the Courtroom (3 Hours Agency) discusses various cases of agency in order to expand the scope of knowledge of the attendee by analyzing various issues in the agency/principal relationship: Exp. 4/30/14

· Definition and elements of the agency relationship

· Agency all around us in the business world

· Duties of agent to principal

· Duties of principal to agent

13. Consumer Protection and Credit Repair: Examining the Fair Credit Reporting Act: (3 Hours Legal Issues) examines the Fair Credit Reporting Act and its impact on consumers ability to qualify for a mortgage. It is one of the single most important pieces of legislation for consumers in regards to the actions it prohibits and the limits it places on the reporting of harmful information about consumers on credit reports. The course looks at court opinions to arm consumers with the knowledge to protect themselves from predators and to correct their credit reports. Exp. 10/31/2015

· Handling credit report disputes and documentation

· Addressing zombie debt and collections

· Understanding the time limits on negative information

· The dirty games creditors play on credit reports

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