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8 Hours of 2021 Pennsylvania MLO Continuing Education

Pennsylvania CE 8 Hours Online Self-Study Bundle

Complete 8-hour package for Pennsylvania mortgage loan originators. Includes the 1-hour DOBS state-specific course.

This 8-hr mortgage loan originator education course covers fundamental PA state regulations and policies. Take this MLO continuing education course online.
$50.50

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Included Standard:

Online Course Includes Video Printable Certificate PDF & EPUB eBook

Optional Add-Ons:

Read-Along Audio MP3

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.

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 Commonwealth of Pennsylvania. The Pennsylvania Department of Banking and Securities (DOBS) 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 PA-specific law and regulations.

Included in this PA mortgage loan originator continuing education course package are:

  • 1 Hour PA SAFE: Pennsylvania Mortgage Regulations (NMLS ID 12797) - This course will review several Pennsylvania mortgage laws such as the Mortgage Licensing Act, the Consumer Equity Protection Act, and the Housing Finance Agency Law. Please review the Course Syllabus for more details.

  • 7 Hour SAFE Core: 2021 Originator Fundamentals (NMLS ID 12723) - This course covers the required topics as mandated by the federal SAFE Act for annual NMLS mortgage license renewal. The topics in this course include the NMLS-required topics of the Truth in Lending Act, the Equal Credit Opportunity Act, and various miscellaneous regulations; a review of laws that regulate the advertisement of mortgage products; and an explain of nontraditional products such as to 203(k) loan, energy efficient mortgage, and the HomeReady® loan program. Please review the Course Syllabus for more details about this course.

These courses are new for 2021 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 > Pennsylvania
Purpose: Complete 8-hour package for Pennsylvania mortgage loan originators. Includes the 1-hour DOBS state-specific course.
Features: Online Text, Online Video, Printable Certificate, PDF eBook

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 PA SAFE: Pennsylvania Mortgage Regulations

NMLS Course ID: 12797

NMLS Sponsor ID: 1400327

Credit Hours Provided: 1

Category: CE Elective

View Course Syllabus

​​​​​​​

This course will cover several fundamental state regulations that Pennsylvania mortgage loan originators must be familiar with. A number of Pennsylvania laws govern certain aspects of the mortgage loan business, including the Mortgage Licensing Act, the Housing Finance Agency Law, the Consumer Equity Protection Act, and the Loan Interest and Protection Law (known as the “Usury Law”).

This course will also cover the Department of Banking and Securities' statements of policy regarding the first loan mortgage business, mortgage loan modifications, and reverse mortgages. It will also review the Pennsylvania Housing Finance Agency's emergency home loan program for borrowers who may need temporary help with delinquent mortgage loans.

Topics and Learning Objectives

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

  1. The Mortgage Licensing Act (16 minutes)
  2. Statements of Policy (7 minutes)
  3. High-Cost Loans: The Consumer Equity Protection Act (7 minutes)
  4. The Housing Finance Agency Law (5 minutes)
  5. The Usury Law (5 minutes)
  6. Final Exam (10 minutes)

Total study time: 1 credit hour

This course will prepare Pennsylvania MLOs to:

  • Understand the authority granted to the Department.
  • Recognize common definitions used in the Act and by the Department.
  • Know who does and who does not need to be licensed, and the penalties for practicing loan origination activities without a required license.
  • Recognize the guidelines issued by the Department to prevent dishonesty, fraud, and negligence when working with applicants for mortgage loans.
  • List the prohibited practices when working to modify a consumer's existing residential mortgage loan
  • Understand what a covered loan is and its requirements under the Consumer Equity Protection Act
  • Identify the Pennsylvania Housing Finance Agency's programs for helping distressed homeowners
  • Outline the state's usury laws and its restrictions on mortgage loan interest rates

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: 2021 Originator Fundamentals

NMLS Course ID: 12723

NMLS Sponsor ID: 1400327

Credit Hours Provided: 7

Category: CE Core

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. Federal Mortgage-Related Laws
  2. Ethical Mortgage Advertisement Practices
  3. Non-traditional Mortgage Products
  4. Final exam

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

Module 1: Federal Mortgage Related Laws

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

  • Equal Credit Opportunity Act (45 minutes)
  • Truth in Lending Act (70 minutes)
  • Miscellaneous Provisions (35 minutes)

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.

We'll start this module covering the adverse action notice requirements of the Equal Credit Opportunity Act, 12 CFR 1002. Examiners are discovering that applicants are not receiving proper notification of adverse actions taken based on the information on their loan applications.

Next, we'll review several provisions of the the Truth in Lending Act. Specifically, we'll cover 12 CFR 1026.19 regarding proper disclosure of fees on the Loan Estimate and Closing Disclosure; 12 CFR 1026.25 regarding record keeping requirements; 12 CFR 1026.36 regarding the delivery of the special information booklet and NMLS ID disclosure requirements; and 12 CFR 1026.38 regarding proper disclosure of settlement costs.

Lastly, we'll review several miscellaneous NMLS topics: adverse action notices under the Fair Credit Reporting Act (15 USC 1681(m)), the Department of Veterans Affairs VA Circular 26-14-10, consumer consent to receiving digital records under the ESIGN Act (15 USC 7001), and the reporting requirements under the Home Mortgage Disclosure Act (12 CFR 1003).

Module 2: Ethical Mortgage Advertisement Practices

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

  • The Mortgage Acts and Practices Advertising Rule (45 minutes)
  • TILA and RESPA Advertising Rules (20 minutes)
  • FTC Advertising Rules and Case Study (35 minutes)

This module is written with a focus on consumer protection. Most, if not all of the regulations of the mortgage and banking industry are implemented to protect the consumer. In this module you'll be provided with a better understanding of laws that protect consumers from untruthful mortgage advertising. Understanding what you can and cannot do in regard to advertising loan products is vital when dealing with the public and promoting your services. As an advocate for your customer it is up to you to be diligent in your understanding of the laws and regulations affecting our industry, how they affect you in your business, and how to adhere to them for compliance and consumer protection.

Module 3: Non-traditional Mortgage Products

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

  • The FHA 203(k) – A Program for Property Rehabilitation (30 minutes)
  • Energy Efficient Mortgage Programs (45 minutes)
  • Fannie Mae's HomeReady® Loan Program (25 minutes)

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 such as the Federal Housing Administration's 203(k) property rehabilitation loan, four types of energy efficient mortgage products, and the Fannie Mae HomeReady® rehab loan product.

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.