Late CE - 8 Hour SAFE Comprehensive: 2017 Originator Essentials (6878)

8 hours of NMLS required education for state agencies that do not require state-specific education.


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Online Course
Includes Video
Printable Certificate
PDF & EPUB eBook
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At A Glance:

Price: $65.00 (USD)
+ $12.00 NMLS Credit Banking Fee
Purpose: For NMLS licensees who did not complete their continuing education requirements in 2017
Features: online text, online video, printable certificate, PDF eBook
Hours: 8 Hours
Category: CE Comprehensive
Sponsor /
7405 SW Beveland Rd,
Portland, OR 97223
(503) 670-9278

For NMLS licensees who did not complete their continuing education requirements in 2017

NMLS Course ID: 7495

NMLS Sponsor ID: 1400327

View Course Syllabus

This course will instruct mortgage loan originators on a number of regulations that they will have to comply with while taking part in their mortgage loan origination activities. Rules, such as those implemented by the Dodd-Frank Wall Street Reform and Consumer Protection Act, are set in place to protect the interest and well-being of consumers who apply for mortgages to purchase or refinance their properties. To ensure that their business practices satisfy the regulations adopted by federal laws, mortgage loan originators need to keep current on the guidelines published by entities such as the Consumer Financial Protection Bureau (CFPB).

The first module of this course will outline the various federal fair housing laws that mortgage professionals must comply with. Specifically, this section of the course will go over the prohibited practices outlined in the federal Fair Housing Act, and the rules for the extension of credit provided by the Equal Credit Opportunity Act (ECOA). This module will also go over several fair housing violation case studies and the punishment issued against each offender.

The second module of this course reviews the kickback and fee arrangements that are prohibited by Section 8 of the Real Estate Settlement Procedures Act (RESPA). As the regulatory agency overseeing the rules of section 8, the CFPB is on the lookout for arrangements that violate RESPA's definition of “things of value” that might influence an individual or company to the detriment of the consumer. This chapter will continue with a reminder of the antidiscrimination regulations that loan originators are required to comply with when taking applications as well as a list of common law violations that the CFPB discovers during its examination of covered institutions.

The third module covers unique mortgage product solutions for unique customers. We'll cover several non-traditional mortgages such as the reverse mortgage, the Good Neighbor Next Door program, the Teacher Next Door grant program, the extended-into-2017 HARP, and several low down payment programs meant to help consumers.

The last module illustrates the rules regarding loan origination compensation, covering what is and is not considered compensation. The Truth in Lending Act, Regulation Z, 12 CFR 1026.36, outlines the definitions of compensation and the types of services that can result in earned payment to an MLO.

This Late CE course is specifically for MLOs who have not completed their continuing education requirements to renew their license in 2017 or earlier. Course credit will be issued for last year's renewal requirements.

Topics and Learning Objectives

This course consists of four primary sections:

  1. Ethics and Fair Housing (2 Hours Ethics)

  2. RESPA Section 8 and Fair Lending (3 Hours Federal Law)

  3. Non-Traditional Mortgages – Unique Solutions for Unique Customers (2 Hours Non-Traditional Mortgage)

  4. Loan Originator Compensation (1 Hour Elective)

Total study time: 8 hours

Module 1: Ethics and Fair Housing

Study Time: 2 clock hours

The purpose of this module is to emphasize the importance of discrimination protections in the lending industry. The section will begin with a brief overview of the federal laws, and then go into depth with the Fair Housing Act and the Equal Credit Opportunity Act (ECOA). As discrimination is harmful to the mortgage industry, this section will summaries several cases of discrimination that occurred throughout the lending trade.

Module 2: RESPA Section 8 and Fair Lending

Study Time: 3 clock hours

Arrangements where loan originators receive or give things of value to other providers or affiliates is a clear violation of section 8 of the Real Estate Settlement Procedures Act. As recent law cases confirm, title companies, brokers, loan originators, and other parties involved with residential mortgage lending are still violating this provision. This section of the course will remind students what meets the definition of a thing of value and how to look out for RESPA violations that may negatively impact their business.

The second portion of this module outlines the Truth in Lending Act antidiscrimination rules and how disparate treatment and disparate impact affect how consumers are treated. We'll also cover the CFPB supervisory highlights of last year, covering the various regulations and rules that the agency determined were not being complied with by lenders and others in the mortgage loan industry.

Module 3: Non-traditional Mortgages – Unique Solutions for Unique Customers

Study Time: 2 clock hours

Since some loan applicants may not qualify for conventional financing, or might be better suited for a different type of loan, being knowledgeable about a variety of programs will benefit both the mortgage loan originator and the consumer. This section will break down several types of specialty loan programs that may work better for the applicant's financial situation than a standard 30-year conventional loan.

Module 4: Loan Originator Compensation

Study Time: 1 clock hours

When determining how much compensation to receive for helping loan applicants, there are strict rules in place that determine the services that can be compensated. This section of the course will review what actions can be considered compensable and what actions cannot be calculated to pay compensation to the loan originator.

NMLS ID Required

You must have an NMLS ID to receive credit for this course. You will need this number before you begin the course.

If you already have an NMLS ID but don't remember what it is:

  • Login into NMLS

  • Click on the Composite View tab.

  • Click View Individual on the sub-header row.

  • The number that appears in parentheses after your name is your NMLS ID number.

If you do not have an NMLS ID and need to obtain one, use the instructions available in the NMLS Resource Center

Our Mission Statement

To provide superior distance education that exceeds industry standards and expectations in course content and delivery methods to those who seek to enter a new profession and those engaged in a profession.