8 Hour Course
Show Course ID: 1
Course ID: 10209, 10749
Approved By: NMLS
The 8 hours of content in this course will fulfill all of the education needed to renew your South Carolina-DCA license.
This course is broken down into 5 modules. Each module contains:
The first module of the course focuses on federal laws and rules that apply to mortgage loans and mortgage loan originators. The federal regulations addressed in this portion of the course include the SAFE Act and the TILA-RESPA rule.
The second module of the course will cover ethics and consumer protection. Aside from ethics and ethical duties, this portion of the course will also talk about fraud in mortgage lending and fair lending practices.
The third module of the course will discuss non-traditional mortgage loan products like adjustable rate mortgages and reverse mortgages. Not only will this segment examine these types of mortgages, it will also look at some of the regulations governing them.
The final national module explains reverse mortgages, and provides the mortgage loan originator with a solid foundation of knowledge on the subject. Topics covered are what reverse mortgages are, the proceeds that come from them, the regulations that govern them, and the scams to watch out for.
The course will end with a 25 question final exam designed to test students on concepts from across the course.
The first portion of the state course examines the general regulations affecting MLOs including the Secure and Fair Enforcement for Mortgage Licensing Act.
The next portion of the course discusses consumer protection. This segment covers such topics as the Mortgage Lending Act, the preference form, and consumer complaints.
The remainder of the course looks at regulations affecting elements of the profession of mortgage loan origination. Topics covered in this segment include licensing exceptions, prohibited activities, and advertising, and use of a residence as a licensed location. It also talks about regulations governing mortgages and deeds of trust, reverse mortgages, and mortgage lending.
The state portion ends with a 15 question final quiz.