8 Hour Course
Show Course ID: 0
Course ID: 7937
Approved By: NMLS
This continuing education class for Mortgage Loan Originators is a great choice for the MLO in the District of Columbia who needs to renew their license. It covers every continuing education requirements for the DC Department of Insurance, Securities, and Banking, and for the NMLS as well, with 7 hours of topics that include all the federal content required and then one hour of subject matter specific to the District of Columbia as well.
The history of mortgage lending in America is explored in the first segment, focusing on the history of the regulations themselves. We will then take you into the portion of the course pertaining to the creation of the SAFE Act as it followed the mortgage crisis of the early 2000s. Part of this class time will be spent exploring the federal agencies that administer and oversee the SAFE Act and provide further oversight for mortgage loan origination in America and Arizona. We will then provide an examination of TILA-RESPA integrated mortgage disclosure and its effect on MLOs.
The course also includes a deeper look into ethics, fair lending practices and consumer protections as well. We will look at the concepts of ethics and fair lending on a broad level as they apply to mortgage loan originators in the field. During this segment we also cover the basics of what can constitute mortgage fraud and how MLOs can help consumers (and themselves) avoid some of these pitfalls. A portion of the course also provides an in-depth examination of lending standards for nontraditional mortgage loans that include Adjustable rate mortgages, subprime and high-cost loans, and reverse mortgages as well.
Finally, we will spend an hour on the mortgage laws and practices of loan origination in the District of Columbia specifically. This will include discussion of some of the required practices by MLOs and the acts that are prohibited by the state, and information relating the DC Official Code and DC Municipal Regulations as well.
Some of the tools we’ll use to help you with the class are case studies and in-text quizzes so you can spot-check your knowledge. An added benefit to these exercise is that they will also help prepare you for the final exam that comes at the conclusion of the class.