10 Hour Utah SAFE Comprehensive 2018 MLO CE Course
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10 Hour Course
- 4.4 12 Reviews
- $125.00
This 10 hour continuing education update for 2018 covers requirements for continued licensure for MLOs by the Secure and Fair Enforcement for Mortgage Licensing Act of 2008. The course is comprised of three modules of federal continuing education requirements, and 1 module of 2 hour(s) of content specific to the state of Utah.
In module 1, the student will have 3 hours of information pertaining to updates of federal mortgage law for 2018, such as:
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A short history of mortgage lending in America
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Registration of MLOs in the NMLS, including initial registration and ongoing continuing education and registration
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Requirements for financial institutions by the SAFE Act
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Requirements for state licensing of MLOs
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A review of the Consumer Financial Protection Bureau and their role in the MLO field and mortgage lending in general
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A discussion of administrative tools under the SAFE Act that affect MLOs
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An examination the TILA-RESPA Integrated Disclosures and their impact upon the MLO
In Module 2, the student will be provided with 3 hours of instruction in the required areas of ethics, consumer protection and fair lending, and fraud, that will include subjects such as:
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Principles of ethics and ethical duties
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A sample code of ethics for MLOs
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The Ability to Repay Rule and the Qualified Mortgage Rule
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What the definition of mortgage fraud is and how it is broken down
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Types of fraud within our industry
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Methods for detecting fraud and avoiding fraudulent behavior
In the third module, students are given a close-up view of nontraditional mortgages used in America today. This 2 hour segment will include:
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An in-depth examination of reverse mortgages and Home Equity Conversion Mortgages
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A look at the 2017 overhaul of the HECM program
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Subprime mortgage loans and new factors regarding their use
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High-Cost Mortgages and rules for their use under Dodd-Frank
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Adjustable Rate Mortgages and their lending standards
In the fourth module, we will examine requirements and statutes specific to the state of Utah. It will include information on the following topics:
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Understand the Residential Mortgage Practices and Licensing Act
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Know the Mortgage Administrative Rule changes that went into effect in 2017
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Know the changes made to the new Real Estate Purchase contract
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Understand the mortgage licensing and disciplinary actions taken in 2016
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.
Show Course ID: 0
- Approved By: NMLS
Instructor Bio
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.