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2 Hour CO SAFE: Colorado Mortgage Lending Laws

Colorado Pre-License 2 Hours Online PE Elective

Mandatory Colorado state-specific component for DORA mortgage licensee applicants

This NMLS mortgage lending laws course is designed to prepare a candidate to become a licensed mortgage loan originator in Colorado.
$49.00
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Online Course Online Audio PDF & EPUB eBook Printable Certificate

Online Course

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Online Audio

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PDF & EPUB eBook

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Printable Certificate

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This course presents Colorado law and rule requirements relating to originating mortgage loans securing residential real property located throughout the State of Colorado. The purpose of this training is to prepare Colorado Mortgage Loan Originator license candidates with the necessary information to ensure fair, ethical, and compliant mortgage loan origination activities.

Summary

Price: $49.00 (USD)
+ $3.00 NMLS Credit Banking Fee
Credit Hours: 2
Category: Mortgage > License Training > Colorado > PE Elective
Purpose: Mandatory Colorado state-specific component for DORA mortgage licensee applicants
Features: Online Text, Online Audio, PDF eBook, Printable Certificate

Courses Provided By:

OnlineEd
7405 SW Beveland Rd,
Portland, OR 97223
(503) 670-9278
mail@onlineed.com

Terms of Service:

Purchase of this package requires that you read and acknowledge a Terms of Service agreement before receiving credit for any courses contained in this package. Please review the following:

2 Hour CO SAFE: Colorado Mortgage Lending Laws

NMLS Course ID: 12176

NMLS Sponsor ID: 1400327

Credit Hours Provided: 2

Category: PE Elective

View Course Syllabus

This course is designed to prepare candidates to take the exam to become a state-licensed mortgage loan originator in Colorado under the Division of Real Estate's Board of Mortgage Loan Originators (the Board). This 2-hour course covers Colorado specific rules and regulations as mandated by the Board, and is required as part of the 20 hours of prelicensure education needed to become a Colorado-licensed mortgage loan originator.

Topics and Learning Objectives

This course consists of five modules, a case study, and a final exam:

  • Colorado Department of Regulatory Agencies (DORA) (12 minutes)
  • Colorado Law and Regulatory Definitions (15 minutes)
  • Colorado License Law and Regulation (21 minutes)
  • Compliance (25 minutes)
  • Disciplinary Actions (12 minutes)
  • Case Study (5 minutes)
  • Final Exam (10 minutes)

Total study time: 2 credit hours

Module 1: Colorado Department of Regulatory Agencies (DORA)

Colorado Revised Statute §24-34-101 establishes for the creation of the Colorado Department of Regulatory Agencies (DORA) to be led by the Executive Director of the Department of Regulatory Agencies. The divisions within DORA regulate over 130 occupations in Colorado, including mortgage loan originators through DORA's Division of Real Estate (DRE). In this module, we will review the structure and responsibilities of the DRE.

Module 2: Colorado Law and Regulatory Definitions

The Colorado Revised Statutes (CRS) establishes and defines numerous laws enacted through Colorado’s Legislature. Title 12, Professions and Occupations, oversees the Colorado Division of Real Estate (DRE) through Article 10, Real Estate. CRS Title 12, Article 10 consists of nine parts. Part 7 oversees mortgage loan originators operating within and throughout the State of Colorado and is referred to as the Mortgage Loan Originator Licensing and Mortgage Company Registration Act. This regulation is reference as CRS §12-10-7. In this module we'll review many definitions as outlined in the act.

Module 3: Colorado License Law and Regulation

Under 4 CCR 725-3-4.4, individuals who do NOT have an active license are prohibited from practicing as Colorado mortgage loan originators. Additionally, individuals who do not have an active license are prohibited from engaging in any mortgage related activities that require licensure pursuant to the Colorado Mortgage Loan Originator Licensing and Mortgage Company Registration Act. In this module we'll cover the licensing requirements under the Act such as testing and insurance requirements. We'll also explain how to properly maintain a Board-issued MLO license.

Module 4: Compliance

Colorado licensees are expected to abide by all laws, rules, and regulations governing their actions. In instances when Colorado licensees venture off track, the Board maintains the authority to investigate the licensees and ultimately, when warranted, render disciplinary action. This module will list prohibited conduct that may trigger a Board investigation of a licensee's conduct. We'll also review advertisement regulations, licensee fiduciary duties, and the handling of fees and commissions.

Module 5: Disciplinary Actions

The Board of Mortgage Loan Originators has the authority to investigate and issue disciplinary decisions against licensees. This module will explain the Board's regulations relating to hearings and available actions the Board may take against a licensee's license.

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, then
  • 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

This course will remain available to students for 365 days after enrollment.

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.