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 doing business in New Jersey. Students taking this course will focus on a variety of topics, including a review of fictionalized scenarios based on real regulatory decisions made by the Department of Banking and Insurance. This New Jersey state elective is NMLS-approved for the two hours of state specific education required for mortgage loan originators to renew their New Jersey mortgage license.
What You'll Learn
- Minimum requirements for mortgage licensees to obtain and maintain licensure
- Required licensee conduct regarding recordkeeping, reporting, advertising, disclosures, and fees and charges
- Unique provisions of the law related to secondary mortgage loan transactions
- Prohibited practices for mortgage licensees in New Jersey
- Prohibitions connected to secondary mortgage loans and high-cost home loans
- Disciplinary consequences that result from failure to comply with the law