8 Hour Course
Course ID: 7048
Approved By: NMLS
This 8 hour class satisfies all of the requirements for continuing education for the renewal of a Mortgage Loan Originator’s license in the state of Maine, both with the Maine Department of Professional and Financial Regulation and the NMLS.
Our Mortgage Loan Originator course for the state of Maine begins by providing the student with a module that covers the history of Federal Mortgage Lending laws. We review the SAFE Act in this portion also. Then we include an overview of the federal agencies responsible for oversight of mortgage practices in America. We also provide information on the TILA-RESPA Integrated Mortgage Disclosure (TRID).
The class then continues as we examine ethics, consumer protections and fair lending practices as well. During this portion we look at the larger concepts of ethics and fair lending as they relate to mortgage loan originators in the field. During this portion we also cover the basics of what can constitute mortgage fraud and how MLOs can avoid some of these legal 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.
During our instruction, we keep the student engaged with in-text quizzes and case studies that you can use to spot-check your knowledge. It will also help prepare you for the final exam that comes at the conclusion of the class.