Late CE: 1 Hour FL SAFE 2020 State Law Course (12056)
- 1 Hour Course
- 4.5 10 Reviews
This course is designed to address your 2020 Late CE needs.
This 1-hour course on Florida laws and regulations fulfills the state elective requirement for annual renewal. Licensed mortgage loan originators in the state must take 8 hours of continuing education each year, with 3 hours being dedicated to Federal law, 2 hours of ethics, 2 hours of non-traditional mortgage lending, and this 1 hour of state-specific content.
We will start the class with a look at some key recent changes to rules and laws, in particular those related to enhanced regulation of "business-purpose" loans. Since business-purpose loans can be originated without the person holding an MLO license or under the rules enforced against MLOs, there is an opportunity to abuse this loan category to evade regulations. Recent changes aim to prevent this from occurring.
The class will then present an overview of the Florida Office of Financial Regulation. The OFR is responsible for oversight of MLOs in the state and also works with federal regulators and the NMLS to create uniform application of federal lending practices.
The class will then look at special considerations in mortgage lending in Florida, followed by a broad look at the reporting and other financial requirements for licensed MLOs. The class will finish with a review of prohibited practices and the various ways proper conduct is enforced in the state.
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 course.
Show Course ID: 0
- Approved By: NMLS
Mary Tillery, loan originator and Sales Manager at Guild Mortgage, in Grants Pass Oregon, has been actively involved in home lending since 1986. She has originated everything from first time homebuyers, to complex construction financing and reverse mortgages, besides all forms of more traditional lending. Mary combines her depth of knowledge with a sincere desire to know, love and serve her clients. She has been teaching home buying classes for 20+ years and loves to share her knowledge with not just her clients, but with people in the industry who are interested in growing.