1 Hour Course
Show Course ID: 1
Course ID: 10783
Approved By: NMLS
This course on Connecticut-specific education fulfills 1 hour of annual continuing education for licensed MLOs in the state. A total of 8 hours must be completed each year, which includes 3 hours of federal law, 2 hours of non-traditional mortgage lending, 2 hours of ethics (including fraud, consumer protection, and fair lending issues), and 1 hour of Connecticut-specific education. This is a stand-alone course, and can be taken either on its own or in connection to other courses offered to fulfill your CE requirements.
This course is broken down into 2 modules. Each module contains:
The course begins with a discussion of the Abusive Home Loan Lending Practices Act, which was put in place to prevent predatory lending. This section describes how high cost home loans should and should not be utilized.
We then look at Other Mortgage and Loan Practices, dealing with nonprime mortgage loans and appraisers, among other subjects. It’s important to have an understanding of how other mortgage professionals operate, to better serve consumers.
Students then examine General Mortgage Statutes, which describe licensing information, referrals, and advertisements.
Finally, students look at Prohibited Acts. This topic includes the Commissioner’s authority to conduct investigations and discipline licensees, and the various forms fraud can take.
The course is completed with a final exam consisting of 15 questions randomly drawn from the class.