8 Hour Course
Course ID: 7048
Approved By: NMLS
This class for Mortgage Loan Originators in the state of Alaska covers all the subjects you need for your renewal for both the Alaska Department of Commerce, Community, and Economic Development and the NMLS, as well as providing you with valuable information for your work as a mortgage loan originator.
In the first module, the history of mortgage lending in America is explored, focusing on the history of the regulations themselves. This takes us into the segment pertaining to the evolution of the SAFE Act following the mortgage crisis of the early 2000s. A part of this portion will be spent exploring the agencies that administer and oversee the SAFE Act and provide further oversight for mortgage loan origination in America generally, and Alaska specifically. We will then provide an examination of TILA-RESPA integrated mortgage disclosure and its effect on MLOs.
As we move farther into the course, we take a closer look at subjects like ethics, consumer protections and fair lending practices. During this portion we’ll explore the larger concepts of ethics and fair lending as they relate to mortgage loan originators in the field. During this segment we also cover the basics of what can constitute fraud and how MLOs can avoid some of these pitfalls.
Finally, we’ll also make an in-depth examination of lending standards for nontraditional mortgage loans that include loans like subprime and high-cost loans, adjustable rate mortgages, and reverse mortgages as well.
During the course we’ll keep you engaged with case studies based on real life examples and in-text quizzes so you will be able to spot-check your knowledge. These exercises also help prepare you for the final exam that comes at the conclusion of the class.