About This Course 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.
What You'll Learn
- Loan Estimate and Closing Disclosure review and triggers for disclosure and redisclosure
- Thresholds for distinguishing qualified and non-qualified mortgage types
- Thresholds used to identify entities eligible to make small creditor portfolio loans
- High-cost and higher prices mortgage loan thresholds and applicable regulations under federal law
- CFPB's enforcement priorities and processes
- Legal and ethical concerns related to split fees
- Disclosure requirements for affiliated business arrangements
- Penalties for RESPA violations and the use of a penalty matrix
- Coverage on nontraditional loans
- Regulatory requirements for origination qualified and non-qualified ARMs
- Understanding 15 year nontraditional mortgages
- And much, much more!
How it Works This course is delivered in a face to face format in which the student and instructor will occupy and interact in the same physical location.
All materials for your NMLS-approved Live CE Courses will be handed to you on the scheduled day of class. Materials will include textbook(s), assessment(s), syllabi, Rules of Conduct (ROC) and a survey. At the beginning of class you will need to provide a valid photo ID during the time of registration in order to attend class. For all Live CE courses, you must be present and attentive for the full length of class. If you are unable to complete any section of the class, you will be required to reschedule. Any missed check-in will prevent you from receiving credit, and you will be required to reschedule. Before you are able to receive credit, you must also initial on the roster that you have read and understand the Rules of Conduct Document (ROC), which will be made available to you when you arrive to the class.