1 Hour CT SAFE PE – Mortgage Loan Originator ID# 11080

Teacher

Purpose of the Course:

The course is designed to present topics that are most important to understanding the financing of residential real estate as generally applied to Connecticut. The material covered provides an understanding of what a mortgage loan originator and a mortgage broker need to know in the performance of the origination of a residential mortgage loan.

To make available quality mortgage education in compliance with the SAFE Act for the primary purpose of developing knowledgeable mortgage professionals to better serve consumers.

Course Description:

This 1-hour course has been developed to exceed the minimum standards as set forth by the SAFE Act. The course has been developed by industry professionals with many years of combined mortgage, business and teaching experience

Course Materials:

Power Point Presentation Slides and Notes. (PDF Files To be printed out)

Course Detail Outline in PDF Format. Supplements. (Links To be printed out)

Additional Required Materials:

Mortgage Calculator, Pen or Pencil and Pad, Access to the Internet on a PC, MAC or Tablet recommended

Course Evaluations:

Evaluations will be completed at the end of the course.

NMLS Reporting:

Course completions will be uploaded the day after your session ends and in accordance with NMLS provider policies which is within 7 days of completion.

Course Objectives:

The main objective of the course is to provide each student with the necessary knowledge as required by the SAFE Act to meet annual Continuing Education Requirements. Each module includes the content and objectives along with a Session quiz which are designed to stimulate an understanding of the material.

Course Objectives

Upon completion of this course, students will be able to:

Identify practices that are fraudulent.
Illustrate that MLOs signing documents on behalf of borrowers is fraud.
Explain that MLO’s requiring up-front cash payments from borrowers to take an application is fraud.
Understand the significance of the CT Abusive Home Loan Lending Practices Act
Understand Other CT Mortgage and Loan Practices
Understand the CT General Mortgage Statutes

Module 1 Connecticut Mortgage Laws

Session 1 Connecticut Mortgage Laws (STATE Laws) 60 Minutes

Introduction to Connecticut Mortgage Laws
1. Identify Criminal Penalties for mortgage fraud
2. Understand what committing fraud means
3. Understand that signing documents for customers is fraud
4. Understand that accepting cash upfront from a borrower is fraud
Definitions and Highlights
1. Understand key definitions used in the CT state law
2. Understand the types of licenses available and Identify who may make a loan in CT
3. Understand the licensing requirements for “qualified” individuals
Requirements for All Licenses
1. Understand the types of licenses required
2. Understand the requirements for financial responsibility
3. Understand the licensing exemption requirements
4. Understand the eligibility requirements for originators
5. Understand the requirements for license renewal
Credit Education and Testing
1. Understand the financial responsibility requirements of licensing
2. Understand pre-licensing education requirements
3. Understand the written test requirements
4. Understand the annual continuing education requirements
5. Understand the requirements for re-licensure
License Surrendering and the NMLS
1. Understand the requirements for surrendering a license
2. Understand the requirements for filing with the NMLS
Referral Fees and Prohibited Acts
1. Understand who may be paid to originate a mortgage loan
2. Understand what advanced fees are
3. Understand prohibited acts and be able to identify them
4. Understand the responsibilities of supervising individuals
High Cost Loans
1. Know how to define “high cost loans”
2. Understand the what high cost loans apply to
3. Understand what is “prohibited” in high cost loans
Appraisals Veterans and Non-Prime Loans
1. Identify loan limits to members of the armed forces
2. Know what insurance lenders are permitted to require
3. Understand the requirements for a non-prime loan
4. Understand the meaning of ability to repay

Course Features

Lectures 13
Quizzes 6
Duration 1 hour
Skill level All levels
Language English
Students 120
Assessments Yes

Debra Killian

Debra Killian is a NMLS State Licensed Mortgage Loan Originator and Certified Residential Mortgage Specialist (CRMS), graduated from Western Connecticut State University, Danbury, CT with a B.B.A. in Accounting.

She has over 35 years of financial, banking, accounting and business experience. Since 1994 when she started originating retail residential mortgages she has directly overseen and managed in excess of $1 billion in closed residential real estate loans, representing thousands of customers.
Debra's experience and educational focus has given her an edge in the marketplace and a strong foundation as a passionate trainer for mortgage originators and Realtors offering customized sales and and mortgage-related training courses.

She utilizes a proprietary software system (LoanMgr) developed by her partner and husband Don DeRespinis, CPA, CRMS designed for compliance, transparency and constant communications with customers, clients, Realtors, attorneys and closing agents throughout each and every transaction.

In 2010, Debra co-authored one of the first NMLS approved 20-hour Pre-licensing SAFE Act courses, required for all state-licensed mortgage originators by Title V of the SAFE Act. She also develops for continuing education classes for Realtors.

In 2011, Debra and Don co-authored The Mortgage Professional, National Residential Mortgage Loan Originator which has been approved by the NMLS for the 20-hour pre-licensing course.

In 2014, she co-authored the MBA's School of Loan Origination(SOLO) I and II.

Past positions include Directors of the CT Mortgage Bankers Association (CMBA) and National Association of Mortgage Professionals (NAMB), Past President of the CT Mortgage Association (CMA) as well as served on the Education, FHA and Government Affairs committees of NAMB. Debra is one of only four originators in CT to earn the Certified Residential Mortgage Specialist (CRMS) designation and the first originator in CT to earn the Lending Integrity Seal of Approval from NAMB.

Debra speaks on a variety of topics to various professional groups and trade organizations and is available for custom course development and delivery.

She is a member of the NAMB, CMA, AIME, Northern Fairfield County Association of Realtors (NFCAR), Connecticut Association of Realtors (C.A.R) and the National Association of Realtors. (NAR).

1 Hour CT SAFE PE – Mortgage Loan Originator ID# 11080

Purpose of the Course:

Course Objectives:

Course Features

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