Connecticut NMLS-Approved Mortgage Continuing Education

Maintaining Mortgage Industry Awareness provides a review of relevant issues facing mortgage loan originators today, specifically those outlined by NMLS as required topics for continuing education. Students will examine provisions of the Truth-in-Lending Act, the TILA-RESPA Integrated Disclosure Rule, and the Qualified Mortgage Rule, including issues related to considering the triggers, tolerances, and thresholds that enable loan originators to determine when disclosures are due and what information is required. In addition, students will take a look at the Real Estate Settlement Procedures Act, specifically rules related to lead agreements, marketing services agreements, co-marketing, desk licensing agreements, and affiliated business arrangements. Students will also review several nontraditional mortgage products, such as adjustable-rate mortgages and fixed-rate mortgages with terms of 15 and 40 years. Finally, students will review mortgage laws and regulations specific to the state of Connecticut. This course is NMLS-approved for eight hours of continuing education required for Connecticut mortgage loan originators, as specified by the S.A.F.E. Mortgage Licensing Act and Connecticut law. Annual S.A.F.E. Act continuing education requirements for Connecticut loan originators include three hours of federal law, two hours of ethics, two hours of nontraditional mortgage lending, and one hour of Connecticut-specific laws and regulations, for a total of eight hours.

This course will focus on the laws and rules that regulate mortgage loan originators doing business in Connecticut. 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 review the portions of the Connecticut Banking Law pertaining to required and prohibited conduct for licensees. In Module 2, students will review the Connecticut Abusive Home Loan Lending Practices Act and other provisions of Connecticut law pertaining to mortgage and loan practices.