Continuing Education Online Self-Paced

2 Hour SAFE Elective: Credit Reporting and Consumer Privacy (Online)

The importance of a prospective borrower’s credit score should not be underestimated. One of the most useful devices to complete a thorough and successful analysis is to keep in mind the three Cs of credit: capacity, character, and capital. The mortgage loan originator’s challenge is to understand each applicant’s financial situation and, with these three criteria in mind, find the most suitable product. This course will guide participants through a review of credit basics, including the Fair Credit Reporting Act (FCRA) and FACT Act, the components of credit scoring and reporting, unique situations that warrant nontraditional credit evaluation, and more.

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SKU 4303US23250A00

  • 24/7 access to your course online
  • Certificate of Completion

What You'll Learn

  • Summarize provisions of the FCRA and FACT Act
  • Discuss credit scores and the factors included in their calculation
  • Describe credit report basics and their role in evaluating potential borrowers
  • Describe credit reports and how to read them in more detail
  • Define underwriting guidelines that must be followed when using nontraditional credit history to establish creditworthiness
  • Recall privacy requirements imposed by the Gramm-Leach-Bliley Act
  • Describe information protection measures required by the Safeguards Rule and Disposal Rule

How it Works

This is an online self-paced course that allows you to study the course material independently and at your convenience. Access to a computer with internet access is required. Please note this course is only supported for laptop or desktop computers, as NMLS requirements prohibit the consumption of licensing training on mobile devices, such as cell phones or tablets


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