Late CE: 1 Hour AZ SAFE 2020 State Law Course (12028)

This course is designed to address your 2020 Late CE needs.

This 1 hour course on Arizona laws and regulations fulfills the state elective requirement for annual renewal. Licensed mortgage loan originators in the state must take 8 hours of continuing education each year, with 3 hours being dedicated to Federal law, 2 hours of ethics, 2 hours of non-traditional mortgage lending, and 1 hour of state-specific content. 

We'll begin with a review of regulatory changes, authorities, and a comparison of the AZ SAFE Mortgage Licensing Act and NMLS' Model Act. Then, we'll discuss qualifying activities as an MLO which require licensure and the differences between various loan professionals in the industry. 

First in the next module is an overview of prohibited practices, AZDFI's investigative and enforcement authority, and possible penalties for violations. Next is a look at the Mortgage Recovery Fund, its balance, sources, and liability limits. Finally, a bit of news on Senate Bill 1033 and real world cases involving lenders and originators will show what can happen when players in the industry neglect public interests for their own gain.

To promote comprehension, students will complete a 5-question quiz and short activity after each module. A 15-question final exam will wrap up the course.