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8 Hours of 2022 New Mexico MLO Continuing Education

New Mexico CE 8 Hours Online Self-Study Bundle

Complete 8-hour package for NM MLO licensees. Includes the FID 1-hour state specific requirement

Complete these New Mexico loan originator continuing education courses to renew your MLO license before the December 31, 2022 deadline.
$50.50

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Included Standard:

Online Course Includes Video Printable Certificate PDF & EPUB eBook NM Elective

Optional Add-Ons:

Read-Along Audio MP3

Key Features:

Online Course

All learning is online. Start immediately. Learn on your own schedule.

Includes Video

Video segments highlight important points

Printable Certificate

Download and print your own certificate.

PDF & EPUB eBook

Includes PDF/EPUB eBook of all reading material for your tablet or Kindle.

NM Elective

Includes state-specific elective course

Read-Along Audio MP3
Optional Add-On (+$5.00)

Have a narrator read the entire course to you as you make progress. You can also download the entire course in MP3 audio format. (National portion only)

This package of courses includes the required continuing education necessary to renew a mortgage loan originator's license in the State of New Mexico. The New Mexico Financial Institutions Division (FID) requires licensees to take a total of 8 hours of continuing education each year: 7 hours in SAFE Act required topics, and 1 hour in NM-specific law and regulations.

Included in this course package are:

  • 1 Hour NM SAFE: New Mexico Mortgage Continuing Education (NMLS ID 13746) - The New Mexico Home Loan Protection Act (HLPA) was passed by the New Mexico legislature to outline regulations for lenders and servicers to better protect borrowers. The Act defines acts and practices that must be followed during a foreclosure, as well as regulations that require loan modifications to have a net tangible benefit for the homeowner. Please review the Course Syllabus for more details about this course.

  • 7 Hour SAFE Core: 2022 Originator Fundamentals (NMLS ID 13799) - This course covers the required topics as mandated by the federal SAFE Act for annual NMLS mortgage license renewal. The content covered in this course include the NMLS-required topics that regulators feel licensees need to be refreshed on; a review of ethical lending practices and descriptions of common mortgage fraud schemes; and an explain of nontraditional products such as the HomeStyle Renovation Loan, the Good Neighbor Next Door program, reverse mortgages, and the VA Home Loan. Please review the Course Syllabus for more details about this course.

These courses are new for 2022 and meet the SAFE Act's successive years rule.

Package Summary

Price: $50.50 (USD)
+ $12.00 NMLS Credit Banking Fee
Credit Hours: 8
Category: Mortgage > Continuing Education > New Mexico
Purpose: Complete 8-hour package for NM MLO licensees. Includes the FID 1-hour state specific requirement
Features: Online Text, Online Video, Printable Certificate, PDF eBook, NM Elective

Courses Provided By:

OnlineEd
7405 SW Beveland Rd,
Portland, OR 97223
(503) 670-9278

mail@onlineed.com

NMLS Course Provider ID: 1400327

Terms of Service:

Purchase of this package requires that you read and acknowledge a Terms of Service agreement before receiving credit for any courses contained in this package. Please review the following:


Courses Included In This Package:

1 Hour NM SAFE: New Mexico Mortgage Continuing Education

NMLS Course ID: 13746

NMLS Sponsor ID: 1400327

Credit Hours Provided: 1

Category: CE Elective

View Course Syllabus

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.

Topics and Learning Objectives

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:

  1. The Definitions and Purpose of the Act (9 minutes)

  2. Creditor Prohibited Practices (12 minutes)

  3. High-cost Home Loans (8 minutes)

  4. Default and Right to Cure (6 minutes)

  5. Case Study (5 minutes)

  6. Final exam (10 minutes)

Total study time: 1 credit hour (50 minutes)

At the end of this course, you will be able to:

  • Understand many terms that are defined by the act.
  • Outline acts and practices that are prohibited.
  • Describe how creditors can decrease their liability when dealing with high-cost loans.
  • Identify a borrower's restrictions on making a HLPA-violation claims as well as their right to cure any default.
  • Recognize the fines and penalties for violations of the act.

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 for 365 days after enrollment.

7 Hour SAFE Core: 2022 Originator Fundamentals

NMLS Course ID: 13799

NMLS Sponsor ID: 1400327

Credit Hours Provided: 7

Category: CE Comprehensive

View Course Syllabus

This course will instruct mortgage loan originators on a number of regulations that they will have to comply with while taking part in their mortgage loan origination activities. Rules, such as those implemented by the Dodd-Frank Wall Street Reform and Consumer Protection Act, are set in place to protect the interest and well-being of consumers who apply for mortgages to purchase or refinance their properties. To ensure that their business practices satisfy the regulations adopted by federal laws, mortgage loan originators need to keep current on the guidelines published by entities such as the Consumer Financial Protection Bureau (CFPB).

Topics and Learning Objectives

This course consists of three sections and a final exam

  1. Maintaining Compliance in the Mortgage Industry

  2. Ethical Practices and Common Fraud Schemes

  3. Non-traditional Mortgage Products

  4. Final exam

Total study time: 7 credit hours (5 hours, 30 minutes)

Module 1: Maintaining Compliance in the Mortgage Industry

Study Time: 3 clock hours (150 minutes of federal law)

Each year, the NMLS receives feedback from various agencies on problems and errors occurring in the mortgage industry. This feedback is then incorporated into your annual continuing education requirements as mandated by the NMLS. This module will cover a variety of conduct issues related to federal laws that are among the most frequently cited by examiners as industry problems.

Module 2: Ethical Practices and Common Fraud Schemes

Study Time: 2 clock hours (100 minutes of ethics, fraud, and consumer protection)

In this section we will review ethics in mortgage lending and how they affect the mortgage industry. We'll discusses ethical practices and consumer protection responsibilities of the mortgage loan originator, and outline various ethical standards as they relate to a compliance approach of ethical lending. This section will provide you with checklists of possible red flags of mortgage fraud.

The second half of this section will outline a variety of mortgage fraud schemes. Many of the cases outlined in this section cost millions of dollars in losses for lenders, resulted in property foreclosures, and caused stress for those who were victims of these schemes. Some of these dubious plans involved mortgage loan originators and others in the industry, while others were perpetrated by loan applicants who recruited unsuspecting buyers. Reviewing various types of fraud that occurred in our industry may help you recognize it if a suspicious application ever crosses your desk.

Module 3: Non-traditional Mortgage Products

Study Time: 2 clock hours (100 minutes of non-traditional mortgage)

Besides a traditional conventional loan product, there are other options available when it comes to rehabilitating a home for purchase and refinance that may more perfectly fit the rehab loan needs of the borrower. This module will explain several non-traditional mortgage products, exploring other options available to borrowers.

We'll go over the Fannie Mae HomeStyle® renovation program, the Good Neighbor Next Door program, reverse mortgages, the VA loan, and Fannie Mae's new RefiNow™ program.

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 for 365 days after enrollment.

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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