4 Hour NY SAFE 2018 State Law and Elective Course

$45.00

4 Hour Course

Course ID: 10121

Approved By: NMLS


Add to Cart (877) 724-6150

This 4 hour New York continuing education course covers all of the requirements you will need to satisfy for New York MLO license renewal, under the Secure and Fair Enforcement for Mortgage Licensing Act of 2008. This two-module course is designed specifically for New York, covering the 1 hour elective requirement, as well as the 3 required hours of SAFE laws, regulations, prohibitions, and more. In the 1 hour elective, we will cover Home Equity Lines of Credit, and how they affect the MLO. In the remaining three hours, we’ll cover each of the SAFE laws and regulations, licensing requirements, prohibitions and violations, reporting and recordkeeping, surety bonds, cases of fraud, and more.

In module 1, the student will have 1 hour of information pertaining to HELOCs, such as:

  • A short explanation of what HELOCs are and how they pertain to the MLO

  • A detailed analysis of the specifics of HELOCS, as well as the pros and cons

  • Discussion of what to do to get out of a HELOC

  • HELOC compliance for MLOs and lenders

  • Discussion of changes to the Home Mortgage Disclosure Act

In Module 2, the student will be provided with 3 hours of instruction in the required areas SAFE laws and regulations, alongside all of the information you will need as an MLO, which will include subjects such as:

  • A detailed analysis of the history and application of the SAFE Act

  • A brief look into the recent developments in New York

  • A discussion of the Home Equity Theft Prevention Act

  • A short explanation of necessary forms

  • A dissection of the rights and rescissions and errors by equity purchasers

  • A look into the reconveyances under HETPA

  • An analysis of the mortgage banking statutes

  • Definitions and exemptions under 3 CRR-NY 420.3

  • Specifics about the exemptions for licensure

  • Discussion about the administrative code pertaining to MLOs

  • An analysis of the license renewal and maintenance laws

  • A description of surety bonds for the MLO

  • A comparison of cases of fraud in New York

During the course, there will be in-text questions to help the student gauge their knowledge while moving through the class, as well as activities in the form of case studies that follow each module to test their gathered knowledge.

There is also a final exam of 25 questions at the end of the class.

  • Module 1
    • HELOCs for Mortgage Loan Originators [8 Activities]
      • 01. Introduction
      • 02. What are HELOCs and Who are They For?
      • 03. Specifics of HELOCs
      • 04. Advantages and Problems With HELOCs
      • 05. Getting Out of a HELOC
      • 06. HELOC Compliance for MLOs and Lenders
      • 07. Changes to the Home Mortgage Disclosure Act
      • 08. Conclusion
    • New York MLO Case Study (1 questions)
    • BioSig Authentication - Middle
    • New York MLO Quiz (10 questions)
  • Module 2
    • New York SAFE Laws & Regulations for Mortgage Loan Originators [13 Activities]
      • 01. Introduction
      • 02. Mortgage Lending in New York
      • 03. Recent MLO Developments in New York
      • 04. Home Equity Theft Prevention Act (HETPA)
      • 05. Rights of Rescission and Errors by Equity Purchasers (HETPA)
      • 06. Reconveyances Under HETPA
      • 07. Mortgage Banking Statutes: Definitions and Exemptions
      • 08. Administrative Code
      • View Additional Activities
        • 09. Mortgage Banking Statutes: MLO Duties and Penalties
        • 10. License Renewal and Maintenance
        • 11. Surety Bonds
        • 12. Fraud Report: NY Financial Report
        • 13. Conclusion
    • New York MLO Case Study 2 (1 questions)
    • BioSig Authentication - Middle 2
    • New York MLO Quiz 2 (10 questions)
  • Course Completion
    • BioSig Authentication - End
    • Final Exam (25 questions)
    • Mandatory Questionnaire
    • Certificate of Completion
    • MLO CE Feedback

Instructor Bio


Mary Tillery real estate atyourpaceonline instructor
Mary Tillery, loan originator and Sales Manager at Guild Mortgage, in Grants Pass Oregon, has been actively involved in home lending since 1986. She has originated everything from first time homebuyers, to complex construction financing and reverse mortgages, besides all forms of more traditional lending. Mary combines her depth of knowledge with a sincere desire to know, love and serve her clients. She has been teaching home buying classes for 20+ years and loves to share her knowledge with not just her clients, but with people in the industry who are interested in growing.