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      • AML
      • Late 8 Hour SAFE Comprehensive Federal CE – ID# 11296

      Late 8 Hour SAFE Comprehensive Federal CE – ID# 11296

      Debra Killian
      AML, CIMBA, Ethics, Federal Laws and Compliance, Licensing, Non-Traditional Products
      $99
      CE 2019 8 Hr Fed Large
      • Overview
      • Curriculum
      • Instructor

      LATE CE for 2019 and all prior years.

      Format: On-Line Self-Paced

      Course Delivery Time: 8 one hour online presentation videos and quizzes, case study and final exam to be completed within 24 hours.

      S.A.F.E. ACT Continuing Education Requirements

      The Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act) requires that state-licensed mortgage loan originators (MLOs) complete annual continuing education. To meet continuing education requirements state-licensed MLOs must complete 8 hours of NMLS approved education which include the following:

      3 hours of Federal law and regulations;

      2 hours of ethics, this shall include instruction on fraud, consumer protection, and fair lending issues;

      2 hours of training related to lending standards for the nontraditional mortgage product marketplace; and

      1 hours of undefined instruction on mortgage origination.

      8 Hours Total

      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 all states. 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. The course is broken up into 5 Module areas as follows:

      1. Ethics for the Mortgage Professional
      2. Updated Federal Mortgage Laws in 2018 and 2019
      3. The Ethics of Borrowers
      4. Non-Traditional Products – What are Lender Options
      5. Federal Regulatory Update for 2018-2019

      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 8-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 50 plus 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 usually within a day 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:

      • To understand UDAAP and its implications for Mortgage Originators
      • Discuss disclosure provisions of federal laws related to mortgage lending.
      • Recognize indicators of mortgage ethical situations.
      • Identify predatory lending practices and non-traditional products
      • Discuss agency guidelines on lending and subprime loans.
      • Understand the recent changes in mortgage regulations

      MODULE 1 Ethics Today and The Mortgage Professional

      Session 1 : UDAAP (Ethics)

      Learning Objectives

      1. To understand what UDAAP stands for.
      2. To understand the definition of “material”
      3. To understand what makes an act or practice unfair
      4. To understand how deceptive acts or practices are used
      5. To know examples of UDAAP acts or practices.
      6. To know the primary concerns under UDAAP
      7. To know what substantial injury is.
      8. To see how material interference and taking unreasonable advantage of people are abusive acts.
      9. To Know if avoidable acts or practices are unfair.
      10. To understand how public policies, affect UDAAP violations
      11. To understand the FTC Test for advertising
      12. To understand the how ethics guides the needs of the customer over your own

      Teaching Methods: Power Points, Video PowerPoint Presentation and Quiz

      Module 2 Federal Mortgage Laws

      Session 2: Truth-in Lending (Federal Laws)

      Learning Objectives

      1. To understand what is beneath all laws and regulations on lending
      2. To understand what is loan consummation
      3. To understand what TILA applies to
      4. To understand what loans covered under TILA
      5. To understand the definition of a “PERSON” under TILA
      6. To know how to comply with TILA
      7. To know important definitions under TILA
      8. To know the what the definition of “Application” is under TILA
      9. To understand how loans for personal or family purposes is defined
      10. To understand the definition of dwellings under TILA
      11. To understand TILA advertising restrictions
      12. To understand what are triggering terms in advertising
      13. To understand what advertisements requires additional disclosures
      14. To understand critical criteria of multi-page ads
      15. To understand what are TILA permissible finance charges
      16. To understand which third party fees for conducting closings are considered finance charges
      17. To know how to determine if the APR is correct
      18. To understand TILA permissible tolerances
      19. To understand what makes a finance charge accurate
      20. To know purpose of identifying finance charge violations
      21. To understand how APR is used by consumers to compare between lenders when shopping
      22. To understand how to disclose Finance Charges on Initial LE
      23. To understand “Zero Tolerance” for origination fees and other charges borrowers cannot shop for
      24. To understand the issues that arises from overstated finance charges
      25. To understand the relationship between federal and state laws controlling mortgage originators.

      Teaching Methods: Power Points, Video PowerPoint Presentation and Quiz

      Session 3: Truth-in Lending Continued (Federal Laws) 1 Hour

      Learning Objectives

      1. To understand TILA Refinancing Right to Rescind
      2. To understand who the right of rescission applies to
      3. To know which borrowers must receive a Right to Cancel notice at closing?
      4. To know how to determine the rescission period for a refinance
      5. To understand the extended right to rescind
      6. To understand material disclosure related to rights to rescind
      7. To understand why consumers rescind
      8. To understand effects of rescissions
      9. To understand when creditors are required to refund any money or property
      10. To know what creditors must file in the public record

      Teaching Methods: Power Points, Video PowerPoint Presentation and Quiz

      Session 4: RESPA (Federal Laws)

      Learning Objectives

      1. To understand the primary purpose of RESPA Reg “X”
      2. To know the services covered under RESPA
      3. To know loans covered under RESPA
      4. To understand RESPA Tolerances
      5. To understand the three tolerance categories
      6. To understand change of circumstances and how they affect the CD
      7. To understand the affect If the loan originator selects a third-party settlement service provider
      8. To understand the effect of charges exceeding tolerance for a specific category
      9. To understand RESPA prohibitions
      10. To understand when a thing of value is received in connection with a business referred:
      11. To understand how fees in a marketing service agreement would be legal.
      12. To understand when affiliated business arrangement exists and the disclosure of the arrangement
      13. To know what a “thing of value” is
      14. To understand the effect a charge for which a nominal service has
      15. To know what percentage ownership requires affiliated Business disclosures
      16. To understand marketing service agreements and what makes them legal
      17. To understand the effect when the payment of a thing of value exceeds the value of the services provided
      18. To know how to deal with expenses for web banners, signs and sharing home buyer guides
      19. To understand RESPA Section 8
      20. To know when the CFPB takes action for RESPA violations
      21. To know what kickbacks are

      Teaching Methods: Power Points, Video PowerPoint Presentation and Quiz

      Module 3 Ethics on Borrower Activities

      Session 5: BSA/AML (ETHICS)

      Learning Objectives

      1. To understand the Bank Secrecy Act and why we should care
      2. To understand the Anti-money laundering rules and how they affect mortgage professionals
      3. To understand the purpose of the establishment of the Financial Sector Assessment Program
      4. To understand what violations of AML rules are
      5. To know under BSA/AML rules, a how “bank” is defined
      6. To know what an “established customer” is
      7. To know what monetary instruments include
      8. To understand the definition of “structuring,”
      9. To understand what the term “loan or finance company specifically includes
      10. To understand The Customer Identification Program (CIP)
      11. To understand the regulatory requirements for CIP
      12. To know how an “extension of credit” for CIP purposes is considered
      13. To understand the failure to comply with reporting requirements
      14. To understand Section 1010 and 1029 of Title 31 C.F.R. that requires mortgage lenders to establish AML programs
      15. To understand what reportable transactions are
      16. To understand BSA/AML penalties for non-compliance
      17. To know what FinCen is

      Teaching Methods:

      Power Points, Video PowerPoint Presentation and Quiz

      Module 4 Non-Traditional Mortgage Products

      Session 6: Non-Traditional Products (Non-traditional Products)

      Learning Objectives

      1. To understand how nontraditional products are defined
      2. To understand the general characteristics of subprime loans
      3. To understand the primary reasons for the mortgage crisis
      4. To know what deferred principal refers to
      5. To understand misaligned incentives referring to originators putting borrowers into risky loans
      6. To understand Interest only loans
      7. To understand the Loan Originator Compensation rule
      8. To know what the LO Compensation rules prohibit
      9. To understand what is the “safe harbor” for lenders
      10. To understand the anti-steering rule
      11. To understand Dual compensation
      12. To know why The Interagency Statement on Subprime Mortgage Lending was developed
      13. To understand the common factor in subprime and non-prime
      14. To understand The Statement on Subprime Lending
      15. To understand what is considered in the risk layering assessment.
      16. To understand when borrowers want advice on not paying their mortgage:
      17. To understand loan limits
      18. To understand the Loan Limit Geocoder
      19. To understand how amortization is defined
      20. To understand how the interest rates on a 15-year mortgage compared to a 30 year mortgage
      21. To know what Portfolio loans are
      22. To understand how mortgage payments can lowered by paying down the principal
      23. To understand why Adjustable rate mortgages may be more suited for some buyers

      Session 7: Non-traditional Products Continued – (Non-traditional Products)

      Teaching Methods:

      Power Points, Video PowerPoint Presentation and Quiz

      Learning Objectives

      1. To know how to determine the fully amortizing payment on a mortgage
      2. To know the risk level of each interest payment types
      3. To understand the advantages and disadvantages of an interest only loan
      4. To understand Interest and ARM calculations
      5. To know what the life cap is
      6. To know what the interest rate floor is
      7. To understand the components of an ARM
      8. To understand Negative Amortization
      9. To understand the payment options on a negative amortization loan
      10. To understand the start rate on a Negative amortization loan
      11. To understand how payments on HELOCS differ from home equity loans
      12. To understand how Reverse mortgages are designed for borrowers
      13. To understand the most important disclosure for consumers taking a balloon mortgage
      14. To understand how a “construction loan” payments are calculated

      Teaching Methods:

      Power Points, Video PowerPoint Presentation and Quiz

      Module 5 Update of Federal Mortgage Laws

      Session 8 Statutory and Regulatory Update (Federal Laws)

      Learning Objectives

      1. To understand 2018-19 Regulatory updates during the past year
      2. To understand the 2018 TRID rule
      3. To understand how the tolerance may be reset
      4. To understand what are changes in circumstances
      5. To understand the three-day waiting period for a corrected Closing Disclosure
      6. To understand THE BLACK HOLE
      7. To better understand violations under TRID
      8. To understand when there is a violation in the tolerances, lenders must refund borrowers
      9. To understand what failures to reimburse consumers may constitute
      10. To understand the effect of the CFPB slowing down enforcement actions
      11. To understand ECONOMIC GROWTH, REGULATORY RELIEF AND CONSUMER PROTECTION ACT
      12. To understand how the SAFE Act was amended
      13. To understand the requirements to qualify for transitional licensing
      14. To understand the new law and what consumers must be permitted to do
      15. To know how Veterans applying for a refinance are affected

      Teaching Methods:

      Power Points, Video PowerPoint Presentation and Quiz

      Case Study Exercise Activity

      Final Exam

       

      Course Features

      • Lectures 11
      • Quizzes 3
      • Duration 8 hours
      • Skill level All levels
      • Language English
      • Students 149
      • Certificate Yes
      • Assessments Yes
      ShopTraining TopicsNon-Traditional ProductsLate 8 Hour SAFE Comprehensive Federal CE – ID# 11296
      • Introduction and Acknowledgement of the Rules of Conduct
        2
        • Lecture1.1
          Introduction Copy
        • Quiz1.1
          Rules of Conduct Copy 0 question
      • UDAAP What Originators Need to Know
        1
        • Lecture2.1
          UDAAP Copy
      • Federal Laws Originators Must Follow
        3
        • Lecture3.1
          TILA Copy
        • Quiz3.1
          Tila Rescissions Copy 0 question
        • Quiz3.2
          RESPA Copy 0 question
      • BSA/AML Ethical Considerations
        1
        • Lecture4.1
          BSA/AML Copy
      • Non-Traditional Products
        2
        • Lecture5.1
          Non-Traditional Products Copy
        • Lecture5.2
          Non-Traditional Products Part B Copy
      • Connecticut Mortgage Laws
        1
        • Lecture6.1
          Connecticut Mortgage Laws Copy
      • Comprehensive Case Study
        1
        • Lecture7.1
          Comprehensive Case Study Copy
      • Course Conclusion
        2
        • Lecture8.1
          Conclusion Copy
        • Lecture8.2
          Course Survey Copy
      • Final Exam
        1
        • Lecture9.1
          Final Exam Copy
      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).

      • Overview
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      $99
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