Late CE: 8 Hour SAFE Core and Georgia Law 2020 MLO Package (12029 & 12074)
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8 Hour Course
- $70.00
This course is designed to address your 2020 Late CE needs.
This 8 hour package for mortgage loan originators in Georgia 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 a 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.Â
The second module deals with ethical considerations and consumer protection. An MLO's ethical responsibilities and the ATR/QM rule are demonstrated. Then, fraud, both from within and outside of the mortgage industry makes up the second half of the module. 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. The HECM program is featured, along with its changes, its current state, plans for adjustment, and how the world of non-traditional mortgage lending might be evolving.
A final exam will ask 25 questions randomly drawn from the general education portion of the package.
The 1 hour course on Georgia rules 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.Â
We'll begin with a look at recent changes to Chapter 80-11 of Georgia's Rules and Regulations. Students will be able to implement revised servicing, employee file retention, and disclosure standards after this module. Anti-mortgage fraud legislation and case studies in the state will also be featured.
The second module will discuss the financial exploitation of disabled or elderly persons and the protections in place to stop and prevent dire outcomes. The bulk of this module is actually about three mortgage assistance programs which have lost funding due to demand. These programs or similar replacements may be established soon, though. Mortgage professionals and borrowers alike should keep a close eye on the HomeSafe Georgia site for updates.Â
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.
Please note: This course expires on 12.31.2020. You must complete this course by 12.31.2020 to receive your CE credit.
Show Course ID: 0
- 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.