3 Hour NY SAFE: New York Mortgage Lending Laws
Mandatory New York state-specific component for DFS mortgage licensee applicants
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Read-along audio plays the course text back to you.
Includes PDF/EPUB eBook of all reading material for your tablet or Kindle.
Download and print your own certificate.
This course presents New York law and rule requirements relating to originating mortgage loans securing residential real property located throughout the State of New York. The purpose of this training is to prepare New York Mortgage Loan Originator license candidates with the necessary information to ensure fair, ethical, and compliant mortgage loan origination activities.
+ $4.50 NMLS Credit Banking Fee
|Category:||Mortgage > License Training > New York > PE Elective|
|Purpose:||Mandatory New York state-specific component for DFS mortgage licensee applicants|
|Features:||Online Text, Online Audio, PDF eBook, Printable Certificate|
NMLS Course Provider ID: 1400327
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:
NMLS Course ID: 12870
NMLS Sponsor ID: 1400327
Credit Hours Provided: 3
Category: PE Elective
This course is designed to prepare candidates to take the exam to become a state-licensed mortgage loan originator in New York under the New York Department of Financial Services (DFS). This 3-hour course covers New York-specific rules and regulations as mandated by DFS, and is required as part of the 20 hours of prelicensure education needed to become a New York-licensed mortgage loan originator.
This online self-study course will teach you about:
This course consists of three modules and a final exam:
High-Cost and Subprime Loans, Fair Lending, and Distressed Properties
Disclosures, Fees, Advertising, Appraisals, and Crime Reports
Licensing Requirements, Prohibited Conduct, and Department Disciplinary Actions
Total study time: 3 credit hours
This module will review special loan situations that require extra care and attention from any loan originator. These include high-cost and subprime loans, fair lending issues, distressed properties, and home equity theft prevention.
Module 2 will explore activities and material that are appropriate and required when engaging with prospective New York State mortgage customers, as required though New York State General Regulations Parts 38, 80, and 82, Sections 254-B and 254-D of New York State Real Property Law, and Part 300 of the New York State Superintendent’s Regulations. In proceeding with General Regulations Part, 38, it is important that we first clarify some definitions.
Aside from working in the capacity of a mortgage lender for an exempt entity, anyone desiring to engage in mortgage origination activities by arranging for financing secured by one-to-four-family, residential dwellings located throughout New York State, must first secure a valid New York State Mortgage Loan Originator’s license.
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:
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.
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.