About This Course State mortgage regulations are constantly evolving and keeping up with these changes can prove challenging. This course will focus on the laws and rules that regulate mortgage loan originators and mortgage loan brokers doing business in Missouri. Students taking this course will focus on a variety of topics, including a review of fictionalized scenarios based on real decisions made by authorities overseeing mortgage business in Missouri. This Missouri state elective is NMLS-approved for the one hour of state specific education required for mortgage loan originators to renew their Missouri mortgage license.
What You'll Learn
- The Missouri Division of Finance and it's authority, structure and responsibilities
- Provisions of the Missouri Secure and Fair Enforcement for Mortgage Licensing Act, including definitions and licensing requirements
- Requirements for license renewal, continuing education, notifications and recordkeeping and reporting
- Prohibited conduct and disciplinary action for non-compliance with the law
- Provisions of the Reverse Mortgage Act, including an overview on payments, advances, fees and counseling
- Provisions of the second mortgage lending statute