3 Hour TX-SML SAFE: Texas Mortgage Lending Laws
Required Texas SML course for NMLS mortgage pre-license education.
All learning is online. Start immediately. Learn on your own schedule.
Read-along audio plays the course text back to you.
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Download and print your own certificate.
This course presents Texas law and rule requirements relating to originating mortgage loans securing residential real property located throughout the State of Texas. The purpose of this training is to prepare Texas 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:||Vocational Training > Mortgage > License Training > Texas > PE Elective|
|Purpose:||Required Texas SML course for NMLS mortgage pre-license education.|
|Features:||Online Text, Online Audio, PDF eBook, Printable Certificate|
14355 SW ALLEN BLVD STE 240,
Portland, OR 97223
NMLS Course Provider ID: 1400327
Purchase of this package requires that you read and acknowledge an Enrollment Agreement before receiving credit for any courses contained in this package. Please review the following:
NMLS Course ID: 13121
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 Texas under the Texas Department of Savings and Mortgage Lending (TX-SML). This 3-hour course covers Texas specific rules and regulations, and is required as part of the 23 hours of prelicensure education needed to become a Texas mortgage loan originator.
This course consists of five modules and a final exam:
Total study time: 3 credit hours (150 minutes)
First off, we'll explain the Texas SAFE Act, its legislative history, and will outline the licensing regulations of the residential mortgage industry in the State of Texas. The intention of the act is to align state regulations with new Federal guidelines in order to promote honesty, education, and professionalism. The Texas SAFE Act’s intended effect is to protect Texas consumers and ensure stability in the Texas housing market and to ensure diversity and availability of mortgage funding. We'll also cover definitions that are outlined in the act.
Individuals must obtain authorization from the state before they may assist a client with the completion of a residential mortgage loan application. Texas has specific requirements that must be complete before this authorization can be granted. This module will explain the steps that must be completed by candidates to obtain an mortgage loan originator license.
After licensing, there are many regulations that must be followed to protect the public and the residential mortgage lending industry from actions that could harm them. In this module we'll review acts and practices that could be considered deceitful and improper. We'll also review actions that licensees must follow to keep their licenses in good standing with the Department of Savings and Mortgage Lending.
In this module, we'll cover specific loans and foreclosure rights afforded to lien holders and defaulting borrowers. We'll go into depth about Texas home equity loans and regulations for reverse mortgages that are specific to our state.
Title 7, Part 4 of the Tex. Admin. Code defines the Texas Department of Savings and Mortgage Lending (TX-SML). This department is responsible for overseeing the financial industry in Texas, whether it be banks, investments, mortgage loans, or deposits. This module will explain the structure of the TX-SML and its acting Commissioner.
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.