20 Hour SAFE Comprehensive Applying Mortgage Knowledge to Exam Preparation (7-day OIL course) is a test-focused mortgage pre-licensing course, organized to review topics specifically outlined in the National Mortgage Loan Originator Test Content Outline. This online - instructor led 7-day course meets the federal mortgage training requirements found in the SAFE Mortgage Licensing Act of 2008 and helps to prepare students for the National Mortgage Loan Originator Test.
There are four modules in this course, each aligned with the Test Content Outline:
Topics in the Federal Mortgage-Related Laws section include RESPA, ECOA, TILA, the SAFE Act, and other federal laws and guidelines. In the General Mortgage Knowledge module, students will review mortgage programs, mortgage loan products, and terms used in the operation of the mortgage market. Focus areas in the Mortgage Loan Origination Activities module are application information and requirements, qualification (processing and underwriting), appraisals, title reports, specific program guidelines, closing, and financial calculations. The final module will discuss Ethics as it pertains to federal mortgage laws, appraisal practices, fraud, and ethical behavior.
3 Hour NM SAFE Review of New Mexico Mortgage Law (OSP) is a course that addresses the lending statutes within New Mexico law that specifically apply to how mortgage professionals conduct business. You will review the Financial Divisions Institution of the New Mexico Regulation and Licensing Department, as well as many other topics, including those listed in the link above.This New Mexico state elective is NMLS-approved for the three hours of state specific education required for mortgage professionals to attain a New Mexico mortgage license.
New Mexico Mortgage License Requirements
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