This course, MLO, is designed for individuals obtaining a Connecticut state license as a Mortgage Loan Originator.
It meets the requirements for the states of Connecticut for the 1 Hour Pre-licensing Education mandated by the S.A.F.E. Act.
MLO provides a detailed analysis of the laws and regulations covering the origination of a mortgage loans.
MLO gives students basic mortgage information and skills necessary to originate a compliant mortgage loan
MLO lays the groundwork for a lucrative career in mortgage lending.
- Video Webinar Presentation of the entire NMLS course.
- Deb Killian taught thousands of loan originators
- Course is immediately available to start anytime and only starts when you pay.
- Available on PC, MAC, Tablet, iPhone or Android.
- Stay entertained with the video while you learn. Other online classes require hours of reading and testing
- Retake exams and quizzes up to 3 times.
- Full PowerPoint Slides with detailed notes give a full narrative on each topic
- Large test bank of questions for highlighting knowledge deficiencies
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.
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
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
Evaluations will be completed at the end of the course.
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.
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.
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
- Identify Criminal Penalties for mortgage fraud
- Understand what committing fraud means
- Understand that signing documents for customers is fraud
- Understand that accepting cash upfront from a borrower is fraud
- Definitions and Highlights
- Understand key definitions used in the CT state law
- Understand the types of licenses available and Identify who may make a loan in CT
- Understand the licensing requirements for “qualified” individuals
- Requirements for All Licenses
- Understand the types of licenses required
- Understand the requirements for financial responsibility
- Understand the licensing exemption requirements
- Understand the eligibility requirements for originators
- Understand the requirements for license renewal
- Credit Education and Testing
- Understand the financial responsibility requirements of licensing
- Understand pre-licensing education requirements
- Understand the written test requirements
- Understand the annual continuing education requirements
- Understand the requirements for re-licensure
- License Surrendering and the NMLS
- Understand the requirements for surrendering a license
- Understand the requirements for filing with the NMLS
- Referral Fees and Prohibited Acts
- Understand who may be paid to originate a mortgage loan
- Understand what advanced fees are
- Understand prohibited acts and be able to identify them
- Understand the responsibilities of supervising individuals
- High Cost Loans
- Know how to define “high cost loans”
- Understand the what high cost loans apply to
- Understand what is “prohibited” in high cost loans
- Appraisals Veterans and Non-Prime Loans
- Identify loan limits to members of the armed forces
- Know what insurance lenders are permitted to require
- Understand the requirements for a non-prime loan
- Understand the meaning of ability to repay
- Lectures 13
- Quizzes 6
- Duration 1 hour
- Skill level All levels
- Language English
- Students 120
- Assessments Yes