3 Hour PA SAFE: Pennsylvania Mortgage Lending Laws
Mandatory Pennsylvania state-specific component for DoBS mortgage licensee applicants.
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This course presents Pennsylvania law and rule requirements relating to originating mortgage loans securing residential real property located throughout the Commonwealth of Pennsylvania. The purpose of this training is to prepare Pennsylvania 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 > Pennsylvania > PE Elective|
|Purpose:||Mandatory Pennsylvania state-specific component for DoBS mortgage licensee applicants|
|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: 13597
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 Pennsylvania under the Pennsylvania Department of Banking and Securities (DoBS). This 3-hour course covers state-specific rules and regulations, and is required as part of the 20 hours of prelicensure education needed to become a Pennsylvania licensed mortgage loan originator.
This course consists of five modules and a final exam:
Pennsylvania Department of Banking and Securities (8 minutes)
PA Law and Regulations Definitions (20 minutes)
License Law and Regulations (22 minutes)
Compliance (70 minutes)
Disciplinary Action (10 minutes)
Final Exam (20 minutes)
Total study time: 3 credit hours (150 minutes)
This module will discuss the Pennsylvania Department of Banking and Securities (DoBS). This state department located at the capital in Harrisburg is responsible for examining, licensing, regulating, and investigating the brokers, lenders, loan correspondents, and originators covered under the Pennsylvania Mortgage Licensing Act (7 Pa. CS. §6101 - 6154).
In this module we'll review definitions that are important to understanding the laws, rules, and statutes that govern mortgage operations throughout the state. Some of the important definitions concern people and their roles in the mortgage loan industry. Other key terms define mortgage loan business concepts and actions.
This module will explain who is required to have a license in Pennsylvania, what the specific requirements for licensure are, why an application for licensure may be denied, and how to maintain a license.
This module will discuss what Pennsylvania licensees must do to stay in compliance with regulations. Maintaining compliance with Pennsylvania mortgage lending requirements will ensure your license does not run afoul with the DoBS or the Commission of Banking and Securities.
This module will cover disciplinary actions regarding Pennsylvania mortgage licenses. The DoBS maintains authority over the licenses they issue, allowing them to investigate, suspend, revoke, and impose civil fine against licensees who are found to have violated Pennsylvania mortgage lending laws.
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.