The content for this course is the same as course ID 7480 and is intended to satisfy CE requirements for 2018 or the last year a mortgage loan originator held an active license. Mortgage loan originators who take this Late CE course are prohibited from taking course ID 7480 in 2019.
This course will focus on the laws and rules that regulate mortgage loan originators doing business in California. The topics included in this course are presented according to those outlined by the state as subjects that must be included in order to satisfy the continuing education requirements for mortgage loan originators. In Module 1, students will spend 30 minutes reviewing required conduct under the California Finance Lenders Law and the California Residential Mortgage Lending Act. In Module 2, students will spend the first 10 minutes continuing their review of the California Finance Lenders Law and the California Residential Mortgage Lending Act by examining prohibited conduct and disciplinary action. Students will spend the last 20 minutes of the course reviewing the California Homeowner Bill of Rights, specifically how it improves fairness for borrowers in the foreclosure process.
This course satisfies the one-hour California DBO-specific continuing education requirement for loan originators, as specified by California law. In addition to one hour of California-specific education, annual S.A.F.E. Act continuing education requirements include three hours of federal law, two hours of ethics, and two hours of nontraditional mortgage lending.