All learning is online. Start immediately. Learn on your own schedule.
Video segments highlight important points
Download and print your own certificate.
Includes PDF/EPUB eBook of all reading material for your tablet or Kindle.
Includes required state-specific course
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 Hour CA-DFPI SAFE: California Mortgage Continuing Education (NMLS ID 13821) - 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.
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.
This package does NOT provide real estate continuing education credit for DRE licensees.
These courses are new for 2022 and meet the SAFE Act's "successive years" rule.
| Price: |
$36.00 (USD)
+ $12.00 NMLS Credit Banking Fee |
|---|---|
| Credit Hours: | 8 |
| Category: | Vocational Training > 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, CA DFPI Elective |
OnlineEd
7405 SW Beveland Rd,
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 agreement before receiving credit for any courses contained in this package. Please review the following:
NMLS Course ID: XXXX
NMLS Sponsor ID: 1400327
Credit Hours Provided: 1
Category: CE Elective
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 DFPI requires licensees who are renewing their 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.
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:
Total Study Time: 1 Credit Hour
This course will prepare California DFPI-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 for 365 days after enrollment.
NMLS Course ID: 13799
NMLS Sponsor ID: 1400327
Credit Hours Provided: 7
Category: CE Core
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).
This course consists of three sections and a final exam
Maintaining Compliance in the Mortgage Industry
Ethical Practices and Common Fraud Schemes
Non-traditional Mortgage Products
Total study time: 7 credit hours (5 hours, 30 minutes)
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.
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.
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.
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.
