8 Hour Course
Course ID: 7048
Approved By: NMLS
This 8 hour continuing education class satisfies all the requirements for the renewal of licenses for Mortgage Loan Originators in the state known as the Crossroads of America, both with the Indiana Department of Financial Institutions and for the requirements for the NMLS as well.
The Indiana Mortgage Loan Originator will find this class is divided into three parts. In the first, we begin by providing the student with a history of federal mortgage lending laws, up to and including the real estate crisis of the early part of this century. We also discuss the federal SAFE Act and its effect on the mortgage lending industry. After that, we have an overview of the federal agencies responsible for administration of mortgage practices in America. We also provide information on the TILA-RESPA Integrated Mortgage Disclosure (TRID). For expanded background, we discuss the Indiana Department of Financial Institutions as well, who are responsible for oversight of MLOs in the field.
The course then goes on to examine ethics for the mortgage loan originator, and consumer protections and fair lending practices as well. During this portion we will also look at the larger concepts of ethics and fair lending as they relate to mortgage loan originators in the field. This segment goes on to cover the basics of what can constitute mortgage fraud and what MLOs can do to avoid some of these pitfalls. Then the course 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.
During our course we will also keep you engaged with in-text quizzes and case studies that you can use to spot-check your knowledge. The quizzes and case studies will also help prepare you for the final exam that you will take at the conclusion of the class.