8 Hour Course
Show Course ID: 0
Course ID: 7358
Approved By: NMLS
This class is great choice for mortgage loan originators in the state of Arizona. It covers all the requirements for the Arizona Department of Financial Institutions and for the NMLS as well, with 7 hours of topics that include all the federal content required and then the one hour of coursework specific to the Grand Canyon State as well.
The history of mortgage lending in America is explored in the first segment, focusing on the history of the regulations themselves. We will then detail the creation of the SAFE Act as it followed the mortgage crisis of the early 2000s. Part of this class time will be spent exploring the federal agencies that administer and oversee the SAFE Act and provide further oversight for mortgage loan origination in America and Arizona. TILA-RESPA integrated mortgage disclosure and its effect on MLOs is discussed also.
Ethics, fair lending practices and consumer protections are also covered. We will then examine at the concepts of ethics and fair lending on a broad level as they apply to mortgage loan originators in the field. During this segment we also cover the basics of what can constitute mortgage fraud and how MLOs can help themselves avoid some of these pitfalls. A portion of the course also provides an in-depth examination of lending standards for nontraditional mortgage loans that include Adjustable rate mortgages, subprime and high-cost loans, and reverse mortgages as well.
Finally, we will spend a significant portion of our time on the mortgage laws and practices of loan origination in the state of Arizona specifically. This will include discussion of the acts that are prohibited by the state, and information relating the Mortgage Recovery fund as well.
Our course will keep you involved with case studies and in-text quizzes so you’ll be able to spot-check your knowledge, and that will also help prepare you for the final exam that comes at the conclusion of the class.