8 Hour SAFE Core and Elective 2023 MLO CE New Jersey
- 8 Hour Course
Licensed and registered mortgage loan originators in New Jersey must complete eight hours of renewal education every year. This NMLS-approved course fulfills New Jersey’s continuing education requirement by including specific core topics along with an elective.
Here is an overview of the subjects covered in each course module:
Module 1: Federal Mortgage Law (3 Hour)
The course begins with a review of federal laws and rules related to mortgage loan originators and mortgage loans, including the Fair Credit Reporting Act, legislation about electronic records and signatures, the Equal Credit Opportunity Act, and more. Integrated Mortgage Disclosures, Regulation Z, and federal oversight on mortgage lending are also discussed in this module.
Module 2: Ethics, Fraud, Consumer Protection, and Fair Lending (2 Hour)
This module focuses on mortgage industry ethics and consumer protections. Topics covered include Identity Theft Rules (16 CFR 681), best practices for safeguarding client data, and mortgage fraud examples. Also featured in this module are multiple case studies and compliance recommendations for Regulation N. Lastly, students learn about fair lending, consumer protection, and balancing commercial aspirations with ethical business practices.
Module 3: Non-Traditional Mortgage Lending (2 Hour)
Module three focuses on non-traditional loan options, such as reverse and adjustable-rate mortgages. Also included is a review of Federal Housing Administration updates, the Home Equity Conversion Mortgage program, and adjustable-rate mortgage lending standards. The end of the module highlights VA loans, affordable housing programs, and down payment assistance programs.
Module 4: The Mortgage Market and the Federal Reserve System (1 Hour Elective)
This elective module reviews the U.S. Federal Reserve System and mortgage market. Subjects covered include primary sources of home financing, financial markets, recent industry developments, and conventional and unconventional loan types.
Every module in the course ends with a five-question quiz and an interactive activity. The activity is a hypothetical scenario based on module content with five scenario-related review questions. There is also a 25-question final exam that students must finish with a 70% minimum passing score to receive credit.
Show Course ID: 1
- Course ID(s): 15120
- 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.