Outline:
Home Economic Recovery Act (HERA)
Nationwide Mortgage Licensing System and Registry
Creation of the NMLS
Objectives of the SAFE Act
Definitions of Mortgage Functions
Entities Regulated
State Licensing Requirements
Entities regulated
Education and Testing
Licensing Renewals
Exclusions and Exemptions
Registered Licensing Requirements
Relationship between Federal and State Laws covering mortgage originators
Investigations, examinations and penalties
Learning Objectives:
- Understand the objectives of the SAFE Act.
- Understand the licensing requirements for Mortgage Loan Originator, including:
- age
- residency
- criminal background
- education
- testing
- financial records.
- Understand the licensing requirements for registered loan originators.
- Understand continuing education requirements and renewal processes.
- Understand the relationship between federal and state laws controlling mortgage originators.
Teaching Methods:
Power Points, Video PowerPoint Presentation and Quiz
Course Features
- Lectures 1
- Quizzes 1
- Duration 1 hours
- Skill level All levels
- Language English
- Students 11
- Assessments Yes