Late CE: 8 Hour SAFE Core and Nevada Law 2022 MLO Package for Qualified Employees (14261 & 14287)
- 8 Hour Course
This course is designed to address your 2022 Late CE needs.
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 an hour of state-specific content.
We’ll begin the first module of the state elective with a look at state regulation and the Division of Mortgage Lending, followed by important definitions of the various Nevada mortgage industry professionals. Next, we explore regulations that affect mortgage companies, QEs, and MLOs, such as fiduciary duties; requirements for branch offices; net worth; examination and audit laws and rules; and statutes that govern the filing and maintenance of records, financial statements, and reports.
In the second module, the course examines the latest information regarding other statutory requirements such as disclosure and advertising, laws relating to compliance and enforcement, as well as Division updates/announcements. The final sections address provisions and updates including the payment of child support and how noncompliance with child support obligations can impede a licensee’s authority. This module concludes with an update on the current status of the declaration of emergency due to COVID-19.
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 state elective.
The first module of the seven-hour portion is about sweeping laws and rules that apply to mortgage loans and mortgage loan originators across the country. A review of the SAFE Act, Regulation Z, and the Integrated Mortgage Disclosures make up the bulk of this module.
The second module deals with ethical considerations and consumer protection. A discussion of business ethics and the duties that apply to financial services professionals start us off. Then, topics related to consumer protection and the requirements under the Equal Credit Opportunity Act (ECOA) take center stage. The promotion of fair lending practices are emphasized. After that, the current state of mortgage fraud in the United States is addressed, and we will examine ways to identify and deter predatory lending schemes and other types of mortgage fraud.
The third module looks at a variety of non-traditional mortgage loan products and the increased risks and scrutiny that accompany most alternatives to the 30-year fixed rate mortgage loan. We will examine adjustable rate mortgages (ARMs), reverse mortgages, high-cost and higher-priced mortgage loans, counseling requirements, and information on lending standards. Other types of loans and financing options are also considered, including government programs and owner financing.
Each module will be followed by an assessment and quiz portion that begins with an activity in which students will read a short case scenario then answer questions based on what was just covered in that section of the course. A 25 question final exam will conclude the seven-hour course.
Show Course ID: 1
- Course ID(s): 14490, 14494
- Approved By: NMLS
Mary Tillery, loan originator and Sales Manager at Guild Mortgage, in Grants Pass Oregon, has been actively involved in home lending since 1986. She has originated everything from first time homebuyers, to complex construction financing and reverse mortgages, besides all forms of more traditional lending. Mary combines her depth of knowledge with a sincere desire to know, love and serve her clients. She has been teaching home buying classes for 20+ years and loves to share her knowledge with not just her clients, but with people in the industry who are interested in growing.