This course is designed to address your 2023 Late CE needs.

Licensed and registered mortgage loan originators in New York must complete eight hours of renewal education each year. This course, which is NMLS-approved, fulfills New York’s continuing education requirement by including specific core topics and an elective. 

Below is an overview of each course module:

Module 1: Federal Mortgage Law (3 Hour)

Module one begins with a discussion about federal laws and rules related to mortgage loan originators and mortgage loans. Specific legislation highlighted includes the Fair Credit Reporting Act, the Equal Credit Opportunity Act, legislation about electronic records and signatures, and more. Regulation Z, Integrated Mortgage Disclosures, and federal oversight on mortgage lending are also covered in this module.

Module 2: Ethics, Fraud, Consumer Protection, and Fair Lending (2 Hour) 

This module focuses on ethics within the mortgage industry and consumer protections. Topics covered include mortgage fraud examples, Identity Theft Rules (16 CFR 681), and best practices for safeguarding client data. Also featured are various case studies and compliance recommendations for consumer protection and Regulation N. Module two also explores fair lending and balancing commercial aspirations with ethical business practices.

Module 3: Non-Traditional Mortgage Lending (2 Hour)

Module three covers non-traditional loan options like adjustable-rate and reverse mortgages. The module starts with a review of Federal Housing Administration updates, the Home Equity Conversion Mortgage program, and adjustable-rate mortgage lending standards. VA loans, affordable housing programs, and down payment assistance programs are also discussed.

Module 4: The Mortgage Market and the Federal Reserve System (1 Hour Elective)

The last module of this course is an elective that reviews the U.S. Federal Reserve System and mortgage market. Subjects covered include primary sources of home financing, recent industry developments, financial markets, and conventional and unconventional loan types.

Every module ends with a five-question quiz and an interactive activity. The activity consists of a hypothetical scenario related to module content and includes five scenario-related review questions. To finish the course, students must take and pass a 25-question final exam with a 70% minimum score.

  • Course ID(s): 15524
  • 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.