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Late CE 2 Hour NJ SAFE: New Jersey Mortgage Continuing Education (14958)

NMLS Late CE state elective.

Late CE 2-hour NMLS continuing education state-specific elective for New Jersey mortgage loan originators who did not complete education requirements during the previous year.

$39.50  |  2 Hours

+ $3.00 NMLS Credit Banking Fee

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Late CE 2 Hour NJ SAFE: New Jersey Mortgage Continuing Education (14958)

NMLS Course ID: 15578

NMLS Sponsor ID: 1400327

Credit Hours Provided: 2

Category: CE Elective

View Course Syllabus

​​​​​​​This course is approved for "Late CE" credit only.

The New Jersey Department of Banking and Insurance (DOBI) requires New Jersey mortgage licensees to complete a total of 12 continuing education hours each year: 3 hours of federal law, 2 hours of ethics, 2 hours of non-traditional mortgages, 3 hours of general elective, and 2 hours of New Jersey specific education. This two-hour online course meets the New Jersey state-specific mortgage licensee continuing education requirements for annual license renewal.

This course covers the New Jersey Residential Mortgage Lending Act, the laws that define mortgage licensing, conducts, and restrictions in this state. The first module of this course is an overview of the state department tasked with overseeing mortgage regulations, the Department of Banking and Insurance. The second module will review mortgage licensing requirements, and the third module covers the authority of the Commissioner of DOBI, various prohibited acts that licensees cannot do when working with consumers, and specific restrictions when dealing with junior liens and secondary mortgages.

Licensees who do not complete their annual mortgage license training may be placed in a Reinstatement Period and are prohibited from practicing mortgage loan origination activities until their licenses are reactivated and their continuing education requirements have been completed. Licensees have until the end of February to bring their licenses up to date. A penalty Reinstatement Fee may apply when renewing your license. A license will expire if it is not renewed during the Reinstatement Period.

Not every state agency allows for reinstatement of a license. Check the Annual Renewal Information page on the NMLS website to verify if the agency you are licensed under allows for reinstatement, when the last date of reinstatement is, and what the applicable penalty fees may be.

Topics and Learning Objectives

This course is broken down into several learning topics. At the end of the course a 15-question final exam will be given. The topics included in this course are:

  1. Module 1: Overview of the Department of Banking and Insurance (12 minutes)
  2. Module 2: The New Jersey Residential Mortgage Lending Act (45 minutes)
  3. Module 3: NJRMLA Restrictions and Regulations (33 minutes)
  4. Final exam (10 minutes)

Total study time: 2 credit hours (100 minutes)

Module 1: Overview of the Department of Banking and Insurance (DOBI)

In this module we will summarize the organization and purpose of the State of New Jersey Department of Banking and Insurance (DOBI).

At the conclusion of this course, you'll be able to:

  • Describe the mission of DOBI and recognize the individuals who oversee the Department.

Module 2: The New Jersey Residential Mortgage Lending Act (NJRMLA)

In this module we'll cover the mortgage licensing requirements as defined by the New Jersey Residential Mortgage Lending Act.

At the conclusion of this course, you'll be able to:

  • Review various terms as defined in the Residential Mortgage Lending Act.

  • Describe the licensing requirements for New Jersey lenders, brokers, and MLOs.

Module 3: NJRMLA Restrictions and Regulations

At the conclusion of this course, you'll be able to:

  • Identify the authority of the DOBI Commissioner.

  • Memorize the recordkeeping periods and the Commissioner's examination authority

  • Define the rules relating to including credit and hazard insurance into a loan

  • Recognize licensee conduct prohibited by the New Jersey RMLA.

  • Explain the requirements for originating second lien (secondary) mortgages.

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.
  • 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 until midnight on December 31st, 2024

Learn More

Key Features
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 phone, tablet, or Kindle.
Printable Certificate
Download and print your own certificate.
Images & Screenshots
Package Summary
Price: $39.50 (USD)
+ $3.00 NMLS Credit Banking Fee
Credit Hours: 2
State: New Jersey
Category: Vocational Training > Mortgage > Continuing Education > New Jersey > CE Elective
Purpose: NMLS Late CE state elective
Course Provider

OnlineEd
14355 SW ALLEN BLVD STE 240,
Portland, OR 97223
(503) 670-9278

mail@onlineed.com

NMLS Course Provider ID: 1400327

Enrollment Agreement

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:

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.

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