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8 Hour SAFE Core and California-DFPI Law 2022 MLO Package

  • 8 Hour Course
  • 4.4 207 Reviews
  • $79.00

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. Mortgage loan originators in California can satisfy the required 8 hours of annual continuing education needed for license renewal with this package.

We begin with the state elective portion, starting with a review of important state laws, naming changes to regulatory bodies, and official definitions MLOs need to know. The second module of the state portion talks about agency and agency relationships. This module primarily focuses on state agency law, including authority of agents, third party and principal involvement, delegation of duties, and termination of agency.

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 state portion.

The first module of the core portion is about sweeping laws and rules that apply to mortgage loans and mortgage loan originators across the country. A review of the SAFE Act, Regulation Z, and the Integrated Mortgage Disclosures make up the bulk of this module. 

The second module of the core portion deals with ethical considerations and consumer protection. A discussion of business ethics and the duties that apply to financial services professionals start us off. Then, topics related to consumer protection and the requirements under the Equal Credit Opportunity Act (ECOA) take center stage. The promotion of fair lending practices are emphasized. After that, the current state of mortgage fraud in the United States is addressed, and we will examine ways to identify and deter predatory lending schemes and other types of mortgage fraud.

The third module of the core portion looks at a variety of non-traditional mortgage loan products and the increased risks and scrutiny that accompany most alternatives to the 30-year fixed rate mortgage loan. We will examine adjustable rate mortgages (ARMs), reverse mortgages, high-cost and higher-priced mortgage loans, counseling requirements, and information on lending standards. Other types of loans and financing options are also considered, including government programs and owner financing.

Each module of the core portion will be followed by an assessment and quiz portion that begins with an activity in which students will read a short case scenario then answer questions based on what was just covered in that section of the course. A 25 question final exam will conclude the package.

  • Course ID(s): 14354, 14261
  • Approved By: NMLS

Instructor Bio

Mary Tillery real estate atyourpaceonline instructor

Mary Tillery, loan originator and Sales Manager at Guild Mortgage, in Grants Pass Oregon, has been actively involved in home lending since 1986. She has originated everything from first time homebuyers, to complex construction financing and reverse mortgages, besides all forms of more traditional lending. Mary combines her depth of knowledge with a sincere desire to know, love and serve her clients. She has been teaching home buying classes for 20+ years and loves to share her knowledge with not just her clients, but with people in the industry who are interested in growing.

Course Reviews

4.4
207 Reviews