AYPORealEstate.com

8 Hour SAFE Core and Arizona Law MLO Package

  • 8 Hour Course
  • 4.3 77 Reviews
  • $70.00

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 a 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. An MLO's ethical responsibilities and the ATR/QM rule are demonstrated. Then, fraud, both from within and outside of the mortgage industry makes up the second half of the module. Fair lending practices and balancing one's business aspirations with the health of the market are emphasized.

The third module examines non-traditional mortgage loan products like adjustable rate mortgages and reverse mortgages. The HECM program is featured, along with its changes, its current state, plans for adjustment, and how the world of non-traditional mortgage lending might be evolving.

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

The 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.

  • 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

4.3
77 Reviews