8 Hour Course
Course ID: 7359
Approved By: NMLS
This continuing education class will satisfy all the renewal requirements for mortgage loan originators and is a great choice for the MLO in the Aloha State. It covers all the requirements for the Hawaii Department of Financial Institutions and for the NMLS as well, with 7 hours of topics that cover all the federal content required. Then the class goes into the additional one hour of content specific to the state of Hawaii as well.
At the opening of the class, we’ll look at the the history of mortgage lending in America, 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. Then, some class time will be spent exploring the federal oversight agencies that are responsible for the administration of the SAFE Act and for mortgage loan origination in America and Hawaii overall. TILA-RESPA integrated mortgage disclosure and its effect on MLOs will be discussed as well.
Your coursework will continue with a closer look at ethics in general, and fair lending practices and protections for consumers as well. We will look at the concepts of ethics and fair lending on a broader 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 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 a one hour block of time on the mortgage laws and practices of loan origination in the state of Hawaii specifically. This will include a discussion of the acts that are prohibited by the state, and information relating the Mortgage Loan Recovery fund as well.
During your time in our class, we’ll keep you engaged by using case studies and in-text quizzes to spot-check your knowledge. It will also help prepare you for the final exam that comes at the conclusion of the class.