8 Hour SAFE Core and DC Law 2021 MLO Package
-
8 Hour Course
- $79.00
This 8 hour package for mortgage loan originators in DC 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 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. Identity theft prevention and safeguarding client data start us off. Then, topics related to the Telemarketing and Consumer Fraud and Abuse Prevention Act take center stage. Several case studies will be presented, as will other recommendations on compliance with such laws as Regulation N. 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. Federal Housing Administration updates are first, then the Home Equity Conversion Mortgage program is featured, along with its changes. Various other types of loans and financing options are considered, including government programs, high-cost loans and their requirements, and portfolio loans.
A final exam will ask 25 questions randomly drawn from the general education portion of the package.
The state-specific course begins with a review of information on licensing and the adoption of the Mortgage Broker and Lender Amendment Act of 2009, then moves on to cover a variety of regulations with which licensed mortgage loan originators must comply. Such topics include the DC Official Code’s prohibited practices and the DC Municipal Regulations on license renewal, annual reporting, and lock-in agreements.
Students will also learn about the current status of implementation of Electronic Surety Bonds (ESB) by the NMLS, and will understand the process of using ESBs to prepare them for the transition toward full adoption by the District.
An additional 15 question final exam about the state modules will finish off this package.
Show Course ID: 1
- Course ID(s): 12925 & 12930
- Approved By: NMLS
Instructor Bio
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.