8 Hour SAFE Core and California-DFPI Law 2023 MLO Package
- 8 Hour Course
Licensed mortgage loan originators in the state must take 8 hours of NMLS-approved continuing education each year, with 3 hours being dedicated to federal law, 2 hours on ethics, 2 hours on non-traditional mortgage lending, and this 1 hour of state-specific content.
We’ll begin the state portion with a review of important state laws, naming changes to regulatory bodies, and official definitions MLOs need to know. The second module 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 national content includes three modules that focus on major topic areas like federal law updates, consumer protection, and industry updates.
Course modules and topics include:
Module 1: Federal Mortgage Law Updates (3 Hour)
This module discusses federal rules and laws that apply to mortgage loans and mortgage loan originators across the country, including the Fair Credit Reporting Act, the Equal Credit Opportunity Act, legislation pertaining to electronic records and signatures, and other topics. The module also reviews the Integrated Mortgage Disclosures, Regulation Z, and recent updates and insights on how federal oversight affects mortgage lending today.
Module 2: Ethics, Fraud, Consumer Protection, and Fair Lending (2 Hour)
Module two deals with how to safeguard client data, fraud in the mortgage industry, and Identity Theft Rules (16 CFR 681). Students will see several case studies along with other recommendations on compliance with laws like the Mortgage Acts and Practices - Advertising Rule (Regulation N). Other topics in this module include consumer protection, fair lending, and balancing one’s commercial aspirations with ethical business practices.
Module 3: Non-Traditional Mortgage Lending (2 Hour)
The last module examines non-traditional mortgage loan products like reverse mortgages and adjustable-rate mortgages. Specific topics include Federal Housing Administration updates and changes, lending standards for adjustable-rate mortgages, and a review of the Home Equity Conversion Mortgage (HECM) program. The module also covers various other types of loans and financing choices, including VA loans, down payment assistance programs, and affordable housing programs.
Each module ends with an assessment and interactive activity. The assessments include a five-question quiz, and the activity involves hypothetical scenarios based on course content.
To pass the national portion, students must complete a 25-question final exam with a score of at least 70%.
Show Course ID: 1
- Course ID(s): 15101, 15105
- Approved By: NMLS
Mary Tillery, an originating branch manager at Synergy One Lending in Grants Pass, Oregon, believes that buying a home is one of life’s true milestones. For more than 35 years, she has been teaching lending education classes and helping homebuyers achieve their dreams. Mary combines her love of knowledge with her passion for people in her roles as a loan originator and educator. From first-time mortgages to complex construction financing, she is happy to share her expertise with clients and industry professionals alike.