Late CE: 1 Hour MN SAFE 2020 State Law Course (12101)

This course is designed to address your 2020 Late CE needs.

This 1 hour course on Minnesota laws 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 national SAFE Act and the NMLS established thereafter. Then we'll dive into the license laws that govern MLOs in the state of Minnesota, as well as updates for 2020. Topics include license standards, exemptions, renewal, and fees. 

Then we'll turn our attention to the laws that MLOs utilize regularly. These pertain to the practice of loan originating and include standards of conduct, mortgage call reports, unique identifier display requirements, and more.

Next we'll cover prohibited practices for MLOs. This crucial information will include the laws on enforcement, what constitutes a violation, the commissioner's authority to conduct investigations and examinations, and the penalties one could incur. 

We will also address lender disclosures and broker agency, advertising requirements, rate lock and point agreements, and net tangible benefits analysis. Together, this will provide a clear understanding of how one remains in compliance with proper practice.

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.