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 companies doing business in New York. 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 New York Department of Financial Services. This New York state elective is NMLS-approved for the three hours of state specific education required for mortgage loan originators to renew their New York mortgage license.
What You'll Learn
- Starndards for obtaining and maintaining licensure
- Required conduct for licensees, including required disclosures and limitations on fees and charges
- Provisions under the law for originating reverse mortgages and high-cost mortgage loans
- Junior liens as they are defined under the law and and related provisions
- Prohibited conduct and practices for licensees in New York
- Standards and procedures for examinations and investigations by the Department