1 Hour PA SAFE 2021 State Law Course

This 1-hour course on Pennsylvania laws and regulations fulfills the state elective requirement for annual renewal. Licensed mortgage loan originators in the state must take 8 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, and this 1 hour of state-specific content. 

The course begins with an overview of the various regulating structures an MLO is governed by, including the Department of Banking and Securities, the NMLS, and the federal SAFE Act. We then look at the requirements set down by the Mortgage Licensing Act. These include license exemptions and requirements, general requirements like surety bonds and the unique identifier, and the types of practices an MLO is prohibited from engaging in. This last section is followed by an explanation of the director's authority to investigate and penalize licensees. To finish the course, students will review both the Loan Interest and Protection Law and the Housing Finance Agency Law.

To promote comprehension, students will complete a 5-question quiz and short activity after each module. A 15-question final exam will wrap up the course.