3 Hour NY SAFE: New York Mortgage Continuing Education
3-hour New York state-specific course for DFS-licensed mortgage loan originators.
This New York NMLS course meets the DFS state-specific requirement for MLO annual license renewal.
$39.50
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https://www.onlineed.com/catalog/575/3-Hour-NY-SAFE-New-York-Mortgage-Continuing-Education
Key Features:
Online Course
All learning is online. Start immediately. Learn on your own schedule.
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 New York State Department of Financial Services (DFS) requires New York mortgage licensees to complete a total of 11 continuing education hours each year: 3 hours of federal law, 2 hours of ethics, 2 hours of non-traditional mortgages, 1 hour of general elective, and 3 hours of New York specific education. This three-hour online course meets the New York state-specific mortgage licensee continuing education requirements for annual license renewal.
Please review the Course Syllabus for details about this course.
This course satisfies 3 hours of required continuing education for New York 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 2023 and meets the SAFE Act's "successive years" rule.
Package Summary
| Price: |
$39.50 (USD)
+ $4.50 NMLS Credit Banking Fee |
|---|---|
| Credit Hours: | 3 |
| Category: | Vocational Training > Mortgage > Continuing Education > New York > CE Elective |
| Purpose: | 3-hour New York state-specific course for DFS-licensed mortgage loan originators |
| Features: | Online Text, Online Audio, Printable Certificate, PDF eBook |
Courses Provided By:
OnlineEd
14355 SW ALLEN BLVD STE 240,
Portland, OR 97223
(503) 670-9278
mail@onlineed.com
NMLS Course Provider ID: 1400327
Enrollment Agreement:
Purchase of this package requires that you read and acknowledge an Enrollment Agreement before receiving credit for any courses contained in this package. Please review the following:
3 Hour NY SAFE: New York Mortgage Continuing Education
NMLS Course ID: 14987
NMLS Sponsor ID: 1400327
Credit Hours Provided: 3
Category: CE Elective
The New York State Department of Financial Services (DFS) requires New York mortgage licensees to complete a total of 11 continuing education hours each year: 3 hours of federal law, 2 hours of ethics, 2 hours of non-traditional mortgages, 1 hour of general elective, and 3 hours of New York specific education. This three-hour online course meets the New York state-specific mortgage licensee continuing education requirements for annual license renewal.
This course begins with an explanation of mortgage lending consumer protection in regards to high-cost home loans, subprime loans, fair lending, and home equity theft prevention. The second module of this course identifies and lists the various disclosures that will educate consumers on areas such as advertising home loan products, loan commitment, secondary mortgages, and late fees. The third and last module will review prohibited conduct.
Topics and Learning Objectives
This course is broken down into several learning topics. At the end of the course a 25-question final exam will be given. The topics included in this course are:
Module 1: Mortgage Lending Consumer Protections
Module 2: New York State Mortgage Disclosures
Module 3: MLO Authority and Prohibited Conduct
Final exam
Total study time: 3 credit hours (150 minutes)
This course will prepare New York DFS-licensed MLOs to:
- Generalize what defines a loan as a high-cost home loan and the extra requirements that must be complied with when originating these types of loans.
- Identify the criteria that makes a loan categorized as a subprime loan.
- Review New York's fair lending regulations and the steps the Superintendent takes when investigating a fair lending complaint.
- List the protections given to consumers who are working with a distressed property consultant or equity purchaser.
- Summaries the various disclosures that must be given to consumers relating to applications, advertisements, loan commitments, prevailing rates, hazard insurance, agency, lock-in agreements, junior liens, and alternative mortgage loans.
- Give examples of events that require a crime report to be filed with the Superintendent.
- Review the licensing requirements for New York MLOs as well as prohibited conduct.
- Describe the recordkeeping and reporting requirements for licensee.
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.