The content for this course is the same as course ID 7929 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 7929 in 2019.
This course will focus on the laws and rules that regulate mortgage loan originators doing business in Minnesota. 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 information related to examinations and investigations, important definitions related to mortgage activities, and required conduct for licensees. Additionally, students will review rules pertaining to disclosures, advertising, and fees and charges. In Module 2, students will look at provisions of the law related to lending authority and regulation of residential mortgage loan transactions, as well as prohibited activities for licensees. Finally, students will review disciplinary action that may be taken when a licensee violates Minnesota mortgage law.
This course satisfies the one-hour Minnesota-specific continuing education requirement for loan originators, as specified by Minnesota law. In addition to one hour of Minnesota-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.