All learning is online. Start immediately. Learn on your own schedule.
Read-along audio plays the course text back to you.
Download and print your own certificate.
Includes PDF/EPUB eBook of all reading material for your tablet or Kindle.
This course meets the New Mexico 1-hour requirement for NMLS continuing education credit relating to the required topic of New Mexico specific law. In addition to this one hour credit, a minimum of an additional seven hours of continuing education credit is required in order to maintain your New Mexico NMLS license. This one-hour course focuses on the New Mexico Home Loan Protection Act (HLPA).
Please review the Course Syllabus for details about this course.
This course satisfies 1 hour of required continuing education for New Mexico licensed mortgage loan originators. This course is approved by the NMLS. A valid NMLS ID number is required to receive credit for this course. Certain states may have additional requirements beyond what this course provides. Be sure to check with your state to see if this course meets your needs.
This course is new for 2023 and meets the SAFE Act's successive years rule.
| Price: |
$19.50 (USD)
+ $1.50 NMLS Credit Banking Fee |
|---|---|
| Credit Hours: | 1 |
| Category: | Vocational Training > Mortgage > Continuing Education > New Mexico > CE Elective |
| Purpose: | 1 hour state-specific online continuing education course for New Mexico mortgage loan originators. |
| Features: | Online Text, Online Audio, Printable Certificate, PDF eBook |
OnlineEd
14355 SW ALLEN BLVD STE 240,
Portland, OR 97223
(503) 670-9278
mail@onlineed.com
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: 14986
NMLS Sponsor ID: 1400327
Credit Hours Provided: 1
Category: CE Elective
To address the predatory lending practices, the New Mexico legislature passed the Home Loan Protection Act (HLPA). This legislature outlines the actions that creditors are prohibited from doing while working with a residential home loan that is protected by the act, and requires that loans have a reasonable, tangible benefit to the borrower.
This course will review the important provisions of the act, including a case study of how portions of the act were used in a legal court case. The first chapter of the course will review the act's definitions and purpose. The second chapter will identify specific acts and practices that creditors are not allowed to do while working with a HLPA-covered transaction. The third chapter sets out the limitations for high-cost home loans, and the fourth chapter defines the legal rights that borrowers have if in default on their loan as well as their legal rights that can be exercised against creditors who are in violation of the act.
This course is broken down into four modules and a case study. At the end of the course is a 15-question final exam. The topics included in this course are:
The Definitions and Purpose of the Act
Creditor Prohibited Practices
High-cost Home Loans
Default and Right to Cure
Case Study
Final exam
Total study time: 1 credit hour (50 minutes)
At the end of this course, you will be able 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 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.
