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3 Hour NY SAFE: New York Mortgage Lending Laws

New York Pre-License 3 Hours Online Self-Study PE Elective

Mandatory New York state-specific component for DFS mortgage licensee applicants

This NMLS mortgage lending laws course is designed to prepare candidates to become a licensed mortgage loan originator in New York.
$49.00

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Online Course Online Audio PDF & EPUB eBook Printable Certificate

Online Course

All learning is online. Start immediately. Learn on your own schedule.

Online Audio

Read-along audio plays the course text back to you.

PDF & EPUB eBook

Includes PDF/EPUB eBook of all reading material for your tablet or Kindle.

Printable Certificate

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.

Package Summary

Price: $49.00 (USD)
+ $4.50 NMLS Credit Banking Fee
Credit Hours: 3
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

Courses Provided By:

OnlineEd
7405 SW Beveland Rd,
Portland, OR 97223
(503) 670-9278

mail@onlineed.com

NMLS Course Provider ID: 1400327

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:

3 Hour NY SAFE: New York Mortgage Lending Laws

NMLS Course ID: 12870

NMLS Sponsor ID: 1400327

Credit Hours Provided: 3

Category: PE Elective

View Course Syllabus

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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:

  • New York licensing requirements.
  • Fair lending concerns specific to New York.
  • Guidelines and laws for special mortgage situations in New York.
  • Disclosures, advertising laws, appraisals, and reporting requirements.

Topics and Learning Objectives

This course consists of three modules and a final exam:

  1. High-Cost and Subprime Loans, Fair Lending, and Distressed Properties

  2. Disclosures, Fees, Advertising, Appraisals, and Crime Reports

  3. Licensing Requirements, Prohibited Conduct, and Department Disciplinary Actions

  4. Final exam

Total study time: 3 credit hours

Module 1: High-Cost and Subprime Loans, Fair Lending, and Distressed Properties

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: Disclosures, Fees, Advertising, Appraisals, and Crime Reports

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.

Module 3: Licensing Requirements, Prohibited Conduct, and Department Disciplinary Actions

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.

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.