4-Hour NJ SAFE 2024 State Law Course

This 4-hour course is designed to accompany the 8-hour comprehensive package also offered by At Your Pace Online in order to fulfill the 12-hour CE requirement for New Jersey MLOs or Qualified Individuals seeking to renew their license. MLOs and QIs in the state must take 12 hours of continuing education each year, including 3 hours pertaining to federal law, 2 hours on ethics, 2 hours on non-traditional mortgage lending, a 1-hour elective, plus these 4 hours of state-specific content.  

We’ll begin the first module with a review of the regulatory structure governing state-licensed MLOs in New Jersey, followed by a look at 2022 Amendments to the “Fair Foreclosure Act”, the 2023 Flood Risk Notification Law, and January 2024 statute that establishes Community Wealth Preservation Program. The course next reviews the Residential Mortgage Licensing Act (RMLA), breaking it down by subchapter to focus on topics such as licensing, record retention and accuracy, advertising, insurance, and other financial considerations relating to mortgage lending. Prohibited practices, recent enforcement actions, regulatory reminders, and news updates from the State of New Jersey Department of Banking and Insurance will round off the first module. 

The second module is a thorough exploration into the history, makeup, and warning signs of money laundering. We’ll examine recent cases, anti-money laundering legislation, and the role of mortgage professionals in detecting, stopping, and reporting on suspicious activity.  

To promote comprehension, students will complete a 5-question quiz and short activity after each module. Students will need to pass a 25-question final exam to get credit for the course. 

8 Hour SAFE Comprehensive: 2024 MLO Course New Jersey

Every licensed and registered mortgage loan originator (MLO) in New Jersey must complete eight hours of standard renewal education per year. Our course contains four comprehensive modules that provide training on relevant topics. 

The first module covers nationwide mortgage loan and MLO regulations. It includes a review of the SAFE Act, Regulation Z, and the Equal Credit Opportunity Act (ECOA), focusing on 10 common violations identified by the Multi-State Mortgage Committee as mandatory topics for the 2024 core continuing education classes.

The second module centers on ethics and consumer protection with a focus on business and the responsibilities of financial professionals. Then, we talk about consumer protection under the ECOA and the importance of fair lending practices. We conclude with mortgage fraud in the United States and techniques to help identify and stop lending schemes and other forms of fraud.

The third module explores the risks of non-traditional mortgage options compared to the 30-year fixed-rate mortgage loan. Next, we dive into counseling requirements, adjustable-rate mortgages (ARMs), reverse mortgages, high-cost loans, and information on lending standards. Last, we’ll discuss alternative loan options including government programs and owner financing.

Module four discusses the significance of renovation mortgage loans. The focus is on Fannie Mae HomeStyle® and FHA 203(k) renovation loans.

Each module will end with a quiz. Students will read a short case scenario and then answer questions related to the scenario. The course will conclude with a 25-question final exam.

  • Course ID(s): 16208, 16204
  • Approved By: NMLS

Instructor Bio

Mary Tillery real estate atyourpaceonline instructor

Mary Tillery is the instructor for all of our MLO continuing education courses. She has been sharing her expertise with fellow mortgage loan originators for more than 35 years as a lending educator. Learn more about Mary’s background here.