4-Hour NJ SAFE 2025 State Law Course

Mortgage Loan Originators and Qualified Individuals in New Jersey can satisfy their state-specific elective requirements towards their 12 hours of annual continuing education needed for license renewal with this course. Topics include a review of key portions of New Jersey’s SAFE laws and regulations, the RMLA and Administrative Codes, advertising rules and best practices, fees, insurance, recent enforcement actions, and regulatory updates. It concludes with an in-depth look at Anti-Money Laundering programs and their specific application to mortgage loan origination. 

This four-hour course on New Jersey laws and regulations fulfills the state elective requirement for renewal. Mortgage loan originators and qualified individuals in the state must take 12 hours of continuing education each year, with three hours being dedicated to federal law, two hours of ethics, two hours of non-traditional mortgage lending, one hour general elective, and these three hours of state-specific content. This course provides three hours of state-specific training and one hour of elective education with the Anti-money laundering portion of the education.  

The course begins with an overview of New Jersey’s SAFE laws and regulations, including the regulatory authorities in the state and the Residential Mortgage Licensing Act (RMLA) as it is codified in New Jersey’s statutes. Included in these sections are important terms and definitions, different types of mortgage professionals and associated licenses, business licenses, and licensing requirements. Bonding and electronic surety bonding are explored, followed by net worth requirements, place of business rules, and prohibited practices and violations. 

Next up are details about closed-end loans, secondary mortgages, investigations by the Commissioner, and reporting requirements of MLOs. Continuing, the course dives into New Jersey administrative rules, including office requirements, renewal of licenses, the sale, transfer, change, or discontinuation of business activity, and licensee notification requirements. Record keeping mandates are discussed, as well as advertising rules with associated prohibited and required activities in that realm. Fees under New Jersey law are detailed, including important clarifications for MLOs.  

Characteristics of loans are discussed, the imposition of administrative penalties, failures to respond to inquiries of the state, hearings, and consent to administrative penalies are exlplored. The Home Ownership Security Act (HOSA) is reviewed, followed by recent enforcement actions in the state including analyses and best practices. Finally, this section of the course concludes with new and recent legislative and other developments in the state.  

The next section of the course entertains anti-money laundering (AML) concerns and starts with a detailed introduction of what money laundering is, how it is used in real estate, and the stages of money laundering. The history of money laundering follows, including money laundering in the United States and internationally, cross-border issues, how money laundering is moving into new areas, and mortgage loans and money laundering. The section continues with a look at anti-money laundering efforts on a country-wide and international basis, the Bank Secrecy Act (BSA), AML legislation through the years, compliance concerns, and criminal and civil penalties for violations of state and federal law.   

The section ends with a look at red flags from consumers that mortgage loan originators should be aware of, including several examples of non-compliance for context. A review of the section ends the course.  

To promote comprehension, students will complete a quiz and short activity after each main section of the course. A 25-question final exam concludes up the course.