1 Hour MD SAFE 2021 State Law Course

This 1 hour course on Maryland 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'll begin with a review of the regulatory framework in Maryland including the model act produced by the Nationwide Mortgage Licensing System and the Secure and Fair Enforcement for Mortgage Licensing (SAFE) Act of 2008.Then we will examine the state's legal definition of an MLO and the actions that cannot be undertaken without a valid MLO license. The first segment of the course concludes with a discussion of an MLO's duty of care, the locations where MLOs can operate, and the use of advertising including social media promotions. 

In the second module we begin with a look at Maryland’s requirements for storage and maintenance of transaction records. Then we will cover surety bonds in some depth, including an update on Maryland’s management plan for transitioning to Electronic Surety Bonds. Finally we examine a recent case study from the news and discuss the regulatory context the story fits into.

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.