About This Course The expectations placed on mortgage loan originators today are greater than ever when it comes to regulatory compliance. To be successful, loan originators need not only understand the regulations, but also how to practically apply them. Students taking this course will review a variety of regulations including, but not limited to those below. This mortgage continuing education course provides a review of relevant issues facing mortgage loan originators (MLO's) today. It is NMLS-approved for the eight hours of continuing education required for mortgage loan originators to renew their mortgage license.
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
- Coverage of the Home Mortgage Disclosure Act (HMDA)
- 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.