Late CE: 8 Hour SAFE Core and Elective 2020 MLO New Jersey (12073)
- 8 Hour Course
This course is designed to address your 2020 Late CE needs.
The eight hours of content in this course will train mortgage loan originators in New Jersey on the important aspects of mortgage lending including renovation mortgage loans, relevant federal laws, consumer protection, ethics, fraud, and non-traditional mortgage loan products. This series satisfies the seven hours of federal core content plus one hour of general elective.
Four modules comprise this series, each focusing on a major topic area. Recent updates and insights will be provided.
The first module of the course is about sweeping laws and rules that apply to mortgage loans and mortgage loan originators across the country. A review of the SAFE Act, NMLS registration, an overview of state licensing standards, Regulation Z, and Integrated Mortgage Disclosures will make the bulk of the module.
The second module deals with ethical considerations and consumer protection. An MLO’s ethical responsibilities and the ATR/QM rule are demonstrated. Then, fraud, both from within and outside of the mortgage industry makes up the second half of the module. Fair lending practices and balancing one’s business aspirations with the health of the market are emphasized.
The third module examines non-traditional mortgage loan products like adjustable rate mortgages and reverse mortgages. The HECM program is featured, along with its changes, its current state, plans for adjustment, and how the world of non-traditional mortgage lending might be evolving.
Finally, the fourth module provides information on renovation mortgage loans in general, including what they are and when to use them, with a focus on Fannie Mae HomeStyle® and FHA 203(k) renovation loans.
Each module will be followed by an assessment that consists of a five question quiz and an activity in which students will read a short scenario and then answer questions about the scenario. A 25 question final will conclude the 8 hour course.
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- Approved By: NMLS
Mary Tillery, an originating branch manager at Synergy One Lending in Grants Pass, Oregon, believes that buying a home is one of life’s true milestones. For more than 35 years, she has been teaching lending education classes and helping homebuyers achieve their dreams. Mary combines her love of knowledge with her passion for people in her roles as a loan originator and educator. From first-time mortgages to complex construction financing, she is happy to share her expertise with clients and industry professionals alike.