1 Hour Course
Show Course ID: 1
Course ID: 10118
Approved By: NMLS
This class is the perfect continuing education course for those mortgage loan originators who have found their 7 hours of required national content in another course, and who now require the 1 hour of state-specific content.
The course will begin with Module 1, which includes a brief introduction and then an overview of the regulatory agencies that provide oversight for the mortgage lending industry in Colorado. Then we will proceed with an examination of new Colorado regulations, especially those dealing with 4 CCR 725-3, Rule 5.23 that deal with providing the state with immediate notification of convictions, pleas or charges against an MLO. Then we discuss who is required to be licensed as an MLO, as well as who is not, through state specified exemptions.
In Module 2, we will investigate Colorado specific forms that include Dual Status forms and when they should be used, as well as Lock-in Disclosures, Tangible Net Benefit forms, and Loan Modification Disclosure forms. Then we will conclude the class with a segment on advertising and rules specific to Colorado with regard to those advertisements.
During the course, the student’s progress will be measured by two module quizzes, as well as two activities to test the student’s knowledge with scenario based questions. Finally, there will be a short 15 question final exam.