AYPORealEstate.com

8 Hour SAFE Core and Arizona Law 2021 MLO Package

  • 8 Hour Course
  • 4.4 50 Reviews
  • $79.00

This 8 hour package for mortgage loan originators in Arizona is designed to provide all of the mandatory education needed to renew your MLO license.This course is broken down into 5 modules. Each module contains:

  • A section of training
  • An activity in which students will read a short scenario and then answer questions about the scenario
  • A quiz that consists of five questions

The first module of the course is about sweeping laws and rules that apply to mortgage loans and mortgage loan originators across the country. A review of the SAFE Act, NMLS registration, an overview of state licensing standards, Regulation Z, and Integrated Mortgage Disclosures will make the bulk of the module. 

The second module deals with ethical considerations and consumer protection.  Identity theft prevention and safeguarding client data start us off. Then, topics related to the Telemarketing and Consumer Fraud and Abuse Prevention Act take center stage. Several case studies will be presented, as will other recommendations on compliance with such laws as Regulation N. Fair lending practices and balancing one’s business aspirations with the health of the market are emphasized.

The final module examines non-traditional mortgage loan products like adjustable rate mortgages and reverse mortgages. Federal Housing Administration updates are first, then the Home Equity Conversion Mortgage program is featured, along with its changes. Various other types of loans and financing options are considered, including government programs, high-cost loans and their requirements, and portfolio loans.

A final exam will ask 25 questions randomly drawn from the general education portion of the package.

The state-specific course begins with an overview of the regulatory agency that oversees Arizona MLOs: the Department of Insurance and Financial Institutions. We then examine definitions of various terms important to mortgage professionals, and exemptions to licensing. 

After this is a discussion of the many prohibited practices MLOs should refrain from, and a look at other licensing requirements, DIFI fees, and actions that can end in denial, suspension, or revocation of a license. 

The class ends with a refresher on the Mortgage Recovery Fund to ensure that students fully understand its purpose and function.

An additional 15 question final exam about the state modules will finish off this package.

 

 

  • Course ID(s): 12925 & 12933
  • Approved By: NMLS

Instructor Bio

Mary Tillery real estate atyourpaceonline instructor

Mary Tillery is the instructor for all of our MLO continuing education courses. She has been sharing her expertise with fellow mortgage loan originators for more than 35 years as a lending educator. Learn more about Mary’s background here.

Course Reviews

4.4
50 Reviews