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1 Hour MD SAFE: Maryland Mortgage Regulations

Maryland CE 1 Hour Online Self-Study CE Elective

1 hour state-specific online continuing education course for Maryland mortgage loan originators.

This 2020 course meets the Commissioner of Financial Regulation state-specific requirement for MLO annual license renewal.

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Included Standard:

Online Course Online Audio Printable Certificate PDF & EPUB eBook

Online Course

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Online Audio

Read-along audio plays the course text back to you.

Printable Certificate

Download and print your own certificate.

PDF & EPUB eBook

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

The Office of the Commissioner of Financial Regulations (the "Office") under the Maryland Department of Labor is the agency tasked with regulating the licensing of mortgage lenders, brokers, and loan originators. The Office's goal is to protect the consumers of Maryland by outlining the laws and rules for those who work in the financial industry. This 1-hour course will explain many of the Maryland state laws that are enforced by the Office and must be followed by those working in the lending industry.

Please review the Course Syllabus for details about this course.

This course satisfies 1 hour of required continuing education for Maryland 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 2020 and meets the SAFE Act's "successive years" rule.

Summary

Price:	$19.50 (USD) + $1.50 NMLS Credit Banking Fee
Credit Hours:	1
Category:	Mortgage > Continuing Education > Maryland > CE Elective
Purpose:	1 hour state-specific online continuing education course for Maryland mortgage loan originators.
Features:	Online Text, Online Audio, Printable Certificate, PDF eBook

Courses Provided By:

OnlineEd
7405 SW Beveland Rd,
Portland, OR 97223
(503) 670-9278
mail@onlineed.com

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:

1 Hour MD SAFE: Maryland Mortgage Regulations Enrollment Agreement

1 Hour MD SAFE: Maryland Mortgage Regulations

NMLS Course ID: 11912

NMLS Sponsor ID: 1400327

Credit Hours Provided: 1

Category: CE Elective

View Course Syllabus

The Office of the Commissioner of Financial Regulations (the "Office") requires Maryland mortgage licensees to take a 1-hour course on Maryland-specific regulations as part of their annual continuing education requirement to maintain their license.

This 1-hour course will explain many of the Maryland state laws that are enforced by the Office and must be followed by those working in the lending industry.

The first module of this course will start by reviewing the state's usury laws, which limits the amount of interest that can be charged to a borrower.

We'll then review a variety of acts and regulations such as the Secondary Mortgage Loan Law (SMLL) and Maryland Mortgage Fraud Protection Act (MMFPA).

The third module will outline the mediation rules that must be followed for borrowers who are in default, and the last module will summarize mortgage contract rules.

Topics and Learning Objectives

This 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:

The Interest and Usury Law (10 minutes)
Maryland Specific Mortgage Laws (15 minutes)
Foreclosure Mediation Rules (10 minutes)
Mortgage Loan Negotiations and Contracts Rules (5 minutes)
Final Exam (10 minutes)

Total study time: 1 credit hour

This course will prepare Maryland-licensed MLOs to:

Outline the interest rate limits for residential property loans as well as various expenses that do not count towards the maximum interest rate allowed by law.
Describe the rules pertaining to lender escrow accounts.
Summarize the purpose of the Secondary Mortgage Loan Law (SMLL), the Financing Agreements Law, the reverse mortgage law, and the Maryland Mortgage Fraud Protection Act (MMFPA).
List the steps necessary to offer law-required foreclosure mediation options to a borrower facing mortgage default.
Recognize the borrower protection requirements that must be followed when negotiating mortgage loans.
Understand the penalties for violating the state's usury laws, the Financing Agreements Law, reverse mortgage regulations, and the MMFPA.

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.