1 Hour CT SAFE: Connecticut Mortgage Continuing Education

The Connecticut Department of Banking requires mortgage licensees in this state to take a one-hour course on Connecticut mortgage lending rules as part of the licensees' annual continuing education requirement for license renewal. This course covers the four topics relating to Connecticut mortgage regulations.

This four-module course begins with an overview of the Department of Banking. We'll then review the Connecticut Abusive Home Loan Lending Practices Act (Conn. Gen. Stat. § 36a-746), various other important lending regulations, such as nonprime mortgages and title insurance issues, and conclude with a review of Connecticut mortgage licensing requirements.

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:

1. Overview of the Connecticut Department of Banking
2. Connecticut Abusive Home Loan Lending Practices Act
3. Other Mortgage and Loan Practices 
4. Connecticut Mortgage Licensing Requirements 
5. Final exam 

Total study time: 1 credit hour (50 minutes)

This course will prepare Connecticut DOB-licensees to:

• Examine a case study of companies that operated in their own best interests, see how that turned out, and then recognize why it is always best to put the customer's interests first.
• List the divisions of the Connecticut Department of Banking and explain their purposes.
• List the required loan disclosures that a lender must provide to an applicant.
• List the restrictions placed on high cost home loans in order to protect consumers from predatory lending.
• Explain the restriction on direct payments to contractors and the reasons for it.
• Explain when an applicant must be provided with a copy of an appraisal.
• Explain what a title search and title insurance are, and when title insurance will be necessary.
• Describe when mortgage insurance is required and the limitations placed upon it.
• List some of the restrictions on nonprime home loans.
• Recall who needs to be licensed in Connecticut to practice loan origination and the exceptions when licensing isn't required.
• Outline the licensing requirements for mortgage loan originators and the additional licensing requirements for mortgage lenders and brokers
• Describe the loan origination records that licensees are expected to maintain
• Identify the disclosure requirements when advertising mortgage loan products
• List prohibited actions licensee cannot participate in when originating mortgage loans

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.