NMLS Late CE state elective.
+ $4.50 NMLS Credit Banking Fee
NMLS Course ID: 15580
NMLS Sponsor ID: 1400327
Credit Hours Provided: 3
Category: CE Elective
This course is approved for "Late CE" credit only.
The New York State Department of Financial Services (DFS) requires New York mortgage licensees to complete a total of 11 continuing education hours each year: 3 hours of federal law, 2 hours of ethics, 2 hours of non-traditional mortgages, 1 hour of general elective, and 3 hours of New York specific education. This three-hour online course meets the New York state-specific mortgage licensee continuing education requirements for annual license renewal.
This course begins with an explanation of mortgage lending consumer protection in regards to high-cost home loans, subprime loans, fair lending, and home equity theft prevention. The second module of this course identifies and lists the various disclosures that will educate consumers on areas such as advertising home loan products, loan commitment, secondary mortgages, and late fees. The third and last module will review prohibited conduct.
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.
This course is broken down into several learning topics. At the end of the course a 25-question final exam will be given. The topics included in this course are:
Module 1: Mortgage Lending Consumer Protections
Module 2: New York State Mortgage Disclosures
Module 3: MLO Authority and Prohibited Conduct
Total study time: 3 credit hours (150 minutes)
This course will prepare New York DFS-licensed MLOs to:
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 until midnight on December 31st, 2024
+ $4.50 NMLS Credit Banking Fee
|Vocational Training > Mortgage > Continuing Education > New York > CE Elective
|NMLS Late CE state elective
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:
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.