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 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.