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Includes state-specific elective 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 package of courses includes the required continuing education necessary to renew a mortgage loan originator's license in the State of Maryland. The Office of the Commissioner of Financial Regulation (the "Office") 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 MD-specific law and regulations.
Included in this course package are:
1 Hour MD SAFE: Maryland Mortgage Continuing Education (NMLS ID 13725) - This course will explain many of the Maryland state laws that are enforced by the Office of the Commissioner of Financial Regulation and must be followed by those working in the lending industry such as usury regulations, mortgage lending laws, and foreclosure mediation. 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 2021 and meet the SAFE Act's "successive years" rule.
| Price: |
$50.50 (USD)
+ $12.00 NMLS Credit Banking Fee |
|---|---|
| Credit Hours: | 8 |
| Category: | Mortgage > Continuing Education > Maryland |
| Purpose: | Complete 8-hour package for MD MLO licensees. Includes the Office 1-hour state specific requirement |
| Features: | Online Text, Online Video, Printable Certificate, PDF eBook, MD 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 a Terms of Service agreement before receiving credit for any courses contained in this package. Please review the following:
NMLS Course ID: 13725
NMLS Sponsor ID: 1400327
Credit Hours Provided: 1
Category: CE Elective
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.
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:
Total study time: 1 credit hour (50 minutes)
This course will prepare Maryland-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 Comprehensive
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.
