Find this page again at:
https://www.onlineed.com/catalog/407/California-DFPI-8-Hour-Mortgage-CE

8 Hours of 2021 California DFPI MLO Continuing Education

California CE 8 Hours Online Self-Study Bundle

Complete 8 hour California DFPI mortgage license renewal package. Includes 1-hour DFPI elective.

All the education you need to renew your California DFPI mortgage loan originator license. 100% online. Includes DFPI elective. Optional MP3 audio.
$36.00

Add To Cart

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 8-hour MLO continuing education package contains two courses for mortgage licensees who are licensed through the Department of Financial Protection and Innovation (DFPI, previously known as the DBO). The courses included in this package are:

  1. 1 Hour CA-DFPI SAFE: California Mortgage Regulations (NMLS ID 12665) - This course covers the three topics required by the Department of Financial Protection and Innovation. The course will first outline the California Finance Lenders Law, move on to the California Residential Mortgage Lending Act, and conclude with a review of the California Homeowner Bill of Rights. Please review the Course Syllabus for more details about this course.

  2. 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.

This package does NOT provide real estate continuing education credit for DRE licensees.

These courses are new for 2021 and meet the SAFE Act's "successive years" rule.

Package Summary

Price: $36.00 (USD)
+ $12.00 NMLS Credit Banking Fee
Credit Hours: 8
Category: Mortgage > Continuing Education > California
Purpose: Complete 8 hour California DFPI mortgage license renewal package. Includes 1-hour DFPI elective.
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 CA-DFPI SAFE: California Mortgage Regulations

NMLS Course ID: 12665

NMLS Sponsor ID: 1400327

Credit Hours Provided: 1

Category: CE Elective

View Course Syllabus

As of September 29, 2020, the Department of Business Oversight (DBO) is called the Department of Financial Protection and Innovation (DFPI).

There are three important pieces of California legislation that those who are licensed with the California Department of Financial Protection and Innovation (DFPI) must be familiar with. The DBO requires licensees who are renewing their DFPI licenses to review the California Financing Law (CFL), the California Residential Mortgage Lending Act (CRMLA), and the California Homeowner Bill of Rights (HBOR).

This NMLS course will cover each of the three legislations, starting with the California Financing Law. This module of the course will review the licensing requirements for a finance lender, the expected conduct of those who hold these licenses, the limitations on interest rates, and the investigative powers of the Commissioner of the DFPI.

The second module will review the California Residential Mortgage Lending Act. This module will outline the conduct required to maintain a license, the surety bonding and net worth requirements, prohibited fees and owner actions, and how the Commissioner can cite licensees who don't follow the law.

The third module will highlight the California Homeowner Bill of Rights, a law passed in 2013 to give some protection to homeowners who are facing foreclosure of their residential property. This law outlines seven provisions covering dual tracking, robo-signing, single points of contact, and more.

Topics and Learning Objectives

This California NMLS 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. California Financing Law (13 minutes)
  2. California Residential Mortgage Lending Act (14 minutes)
  3. California Homeowner Bill of Rights (13 minutes)
  4. Final Exam (10 minutes)

Total Study Time: 1 Credit Hour

This course will prepare California DFPI-licensed MLOs to:

  • Define who is a finance lender, and the information that finance lenders are required to disclose to their borrowers.
  • Understand how the Commissioner of the Department of Financial Protection and Innovation (DFPI) investigates finance lenders, and the penalties that can come from discovered violations.
  • Outline the conduct expectations of those who are licensed to originate or offer residential mortgage loans.
  • Generalize the bonding and net worth requirements for licensees.
  • Recognize the many prohibited acts relating to licensee conduct.
  • Identify the investigative proceedings and potential penalties that can arise from violations of the California Residential Mortgage Licensing Act.
  • Describe the important points of the California Homeowner Bill of Rights relating to dual tracking, single points of contact, and rental tenant rights.
  • Understand how homeowners and the California Attorney General's office can enforce the HBOR.

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.