2 Hour MI SAFE Review of Michigan Mortgage Law provides a review of the laws that impact mortgage activities in Michigan. In Module 1, students will spend one hour reviewing the Mortgage Loan Originator Licensing Act and the Mortgage Brokers, Lenders, and Servicers Licensing Act. Students will review definitions, information on license qualifications, compliance issues, and other important topics under each of the laws. In Module 2, students will spend 30 minutes reviewing the Secondary Mortgage Loan Act, and the remaining 30 minutes examining the provisions of the Consumer Finance Services Act, the Consumer Mortgage Protection Act, and the Mortgage Lending Practices Act. Like Module 1, students will examine definitions, licensing qualifications, and various issues related to compliance and the authority of the Commissioner to ensure all persons covered under each of the Acts is adhering to the law.
This online - instructor led course meets the 2-hour Michigan-specific pre-licensing education requirement for loan originators and offers a thorough review of the information and laws that license applicants must understand in order to make, broker, or originate loans in compliance with Michigan law.