Mortgage Loan Originator 8 Hour Continuing Education Course

This is an 8-hour SAFE Comprehensive course that meets the SAFE Mortgage Licensing Act mandate for state licensed mortgage loan originators in most states. The course is designed to provide an extensive overview of the core subject areas (3 hours of Federal regulations, 2 hours Ethics, including Fraud, Fair Lending and Consumer Protection, 2 hours of Non-traditional Lending and 1 hour elective. The total 8 hours will allow licensed mortgage loan originators in non-state specific states to meet their continuing education requirement for license renewal.

After completing this course, students will be able to:

• Module 1: Federal Laws During this module, you will review and be asked to demonstrate the following:
  • Analyze charged fees above tolerance limits
  • Good faith determination of estimates of closing costs
  • Review unallowable Third-Party Fee
  • Address failures to issue Corrected Closing Disclosures and provide refunds any excess within 60 days of consummation
  • Analyze the impact of providing inaccurate Loan Estimates
  • Examine collection and documentation of excessive fees
  • Document final disclosures and subsequent changes
  • Examine advertisement missing the Annual Percentage Rate (APR)
  • Discuss the failure to provide borrowers with Closing Disclosures within three business days before consummation
  • Document closing costs details; other costs – Taxes and other government fees
• Module 2: Ethics, Fraud and Consumer Protection During this module, you will review and be asked to demonstrate the following:
  • Examine financial fraud against older adults
  • Review Scams, Tricks & Fraud that target the elderly
  • Assessing Compliance with BSA Regulatory Requirements – Suspicious Activity Reporting
• Module 3: Traditional and Nontraditional Mortgage During this module, you will review and be asked to demonstrate the following:
  • Discuss recent FHA updates
  • Review VA updates100 minutes
• Module 4: The Impact of Changing Mortgage Interest Rates
  • Review the impact of changing mortgage interest rates
  • Case Study

• Comprehensive Final Exam

NMLS Course Policy Manual