The content for this course is the same as course ID 7468 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 7468 in 2019.
This course will focus on the laws and rules that regulate mortgage loan originators doing business in Maryland. In Module 1, students will examine the authority of the Maryland Office of the Commissioner of Financial Regulation, as well as required conduct for mortgage licensees, including the duty of good faith owed to consumers and disclosure requirements. In Module 2, students will review prohibited practices for licensees, as well as other areas of Maryland law which pertain to mortgage loan originators, including the Maryland Mortgage Fraud Protection Act and the Maryland Equal Credit Opportunity Act. Students will also take a look at disciplinary action which may be taken when a licensee violates the law.
This course satisfies the one-hour Maryland-specific continuing education requirement for loan originators, as specified by Maryland law. In addition to one hour of Maryland-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.