8 Hour SAFE Comprehensive 2021 MLO CE Wisconsin
- 8 Hour Course
The eight hours of content in this course will train mortgage loan originators in Wisconsin on the important aspects of mortgage lending including renovation mortgage loans, relevant federal laws, consumer protection, ethics, fraud, non-traditional mortgage loan products, and mortgage markets and the Federal Reserve System. This series satisfies the seven hours of federal core content plus one hour of general elective.
Four modules comprise this series, each focusing on a major topic area. Recent updates and insights will be provided.
The first module of the course is about sweeping laws and rules that apply to mortgage loans and mortgage loan originators across the country. A review of the SAFE Act, NMLS registration, an overview of state licensing standards, Regulation Z, and Integrated Mortgage Disclosures will make the bulk of the module.
The second module deals with ethical considerations and consumer protection. Identity theft prevention and safeguarding client data start us off. Then, topics related to the Telemarketing and Consumer Fraud and Abuse Prevention Act take center stage. Several case studies will be presented, as will other recommendations on compliance with such laws as Regulation N. Fair lending practices and balancing one’s business aspirations with the health of the market are emphasized.
The third module examines non-traditional mortgage loan products like adjustable rate mortgages and reverse mortgages. Federal Housing Administration updates are first, then the Home Equity Conversion Mortgage program is featured, along with its changes. Various other types of loans and financing options are considered, including government programs, high-cost loans and their requirements, and portfolio loans.
Finally, the fourth module focuses on mortgage markets and the Federal Reserve System. Students will review general concepts, conventional and unconventional loan types, then, as lead-in to the discussion and historical overview of the Federal Reserve System, we’ll cover financial markets and sources of home financing.
Each module will be followed by an assessment that consists of a five question quiz and an activity in which students will read a short scenario and then answer questions about the scenario. A 25 question final will conclude the 8 hour course.
Show Course ID: 1
- Course ID(s): 12924
- Approved By: NMLS
Mary Tillery, an originating branch manager at Synergy One Lending in Grants Pass, Oregon, believes that buying a home is one of life’s true milestones. For more than 35 years, she has been teaching lending education classes and helping homebuyers achieve their dreams. Mary combines her love of knowledge with her passion for people in her roles as a loan originator and educator. From first-time mortgages to complex construction financing, she is happy to share her expertise with clients and industry professionals alike.