This 4-hour course on New Jersey laws and regulations fulfills the state elective requirement for annual renewal. Mortgage loan originators and qualified individuals in the state must take 12 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, 1 hour general elective, and these 4 hours of state-specific content.
The course begins with an overview of the Residential Mortgage Licensing Act (RMLA) as it is codified in New Jersey’s statutes. Next are details about the Home Ownership Security Act. The administrative codes that implement the RMLA encompass topics like licensing, record retention and accuracy, advertising, insurance, and other financial considerations related to mortgage lending. Prohibited practices, recent enforcement actions in the state, and current events will round off the first module.
The second module provides an in-depth survey of the history, patterns, and warning signs of money laundering, including a look at recent cases, anti-money laundering legislation, and the role of mortgage professionals in catching and reporting suspicious activity.
To promote comprehension, students will complete a 5-question quiz and short activity after each module. A 25-question final exam concludes up the course.
Show Course ID: 1
- Course ID(s): 15160
- Approved By: NMLS
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.