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This continuing education course covers New Jersey laws and regulations to satisfy the two-hour continuing education requirement defined by the New Jersey Department of Banking and Insurance (DOBI) needed to maintain a New Jersey Mortgage Loan Originator license.
Please review the Course Syllabus for details about this course.
This course satisfies 2 hours of required continuing education for New Jersey 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.
| Price: |
$29.50 (USD)
+ $3.00 NMLS Credit Banking Fee |
|---|---|
| Credit Hours: | 2 |
| Category: | Vocational Training > Mortgage > Continuing Education > New Jersey > CE Elective |
| Purpose: | 2 hour state-specific online continuing education course for New Jersey mortgage loan originators. |
| Features: | Online Text, Online Audio, Printable Certificate, PDF eBook |
OnlineEd
14355 SW ALLEN BLVD STE 240,
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 before receiving credit for any courses contained in this package. Please review the following:
NMLS Course ID: 14958
NMLS Sponsor ID: 1400327
Credit Hours Provided: 2
Category: CE Elective
The New Jersey Department of Banking and Insurance (DOBI) requires New Jersey mortgage licensees to complete a total of 12 continuing education hours each year: 3 hours of federal law, 2 hours of ethics, 2 hours of non-traditional mortgages, 3 hours of general elective, and 2 hours of New Jersey specific education. This two-hour online course meets the New Jersey state-specific mortgage licensee continuing education requirements for annual license renewal.
This course covers the New Jersey Residential Mortgage Lending Act, the laws that define mortgage licensing, conducts, and restrictions in this state. The first module of this course is an overview of the state department tasked with overseeing mortgage regulations, the Department of Banking and Insurance. The second module will review mortgage licensing requirements, and the third module covers the authority of the Commissioner of DOBI, various prohibited acts that licensees cannot do when working with consumers, and specific restrictions when dealing with junior liens and secondary mortgages.
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: 2 credit hours (100 minutes)
In this module we will summarize the organization and purpose of the State of New Jersey Department of Banking and Insurance (DOBI).
At the conclusion of this course, you'll be able to:
Describe the mission of DOBI and recognize the individuals who oversee the Department.
In this module we'll cover the mortgage licensing requirements as defined by the New Jersey Residential Mortgage Lending Act.
At the conclusion of this course, you'll be able to:
Review various terms as defined in the Residential Mortgage Lending Act.
Describe the licensing requirements for New Jersey lenders, brokers, and MLOs.
At the conclusion of this course, you'll be able to:
Identify the authority of the DOBI Commissioner.
Memorize the recordkeeping periods and the Commissioner's examination authority
Define the rules relating to including credit and hazard insurance into a loan
Recognize licensee conduct prohibited by the New Jersey RMLA.
Explain the requirements for originating second lien (secondary) mortgages.
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.
