1 Hour MN SAFE: Minnesota Mortgage Regulations
1-hour Minnesota state-specific course for DOC-licensed mortgage loan originators
All learning is online. Start immediately. Learn on your own schedule.
Read-along audio plays the course text back to you.
Download and print your own certificate.
Includes PDF/EPUB eBook of all reading material for your tablet or Kindle.
This continuing education course covers the topics mandated by the Minnesota Department of Commerce (DOC) modules to satisfy the one-hour continuing education requirement needed to maintain a Minnesota Mortgage Loan Originator (MLO) license.
Please review the Course Syllabus for details about this course.
This course satisfies 1 hour of required continuing education for Minnesota 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 2021 and meets the SAFE Act's successive years rule.
+ $1.50 NMLS Credit Banking Fee
|Category:||Mortgage > Continuing Education > Minnesota > CE Elective|
|Purpose:||1-hour Minnesota state-specific course for DOC-licensed mortgage loan originators|
|Features:||Online Text, Online Audio, Printable Certificate, PDF eBook|
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: 12765
NMLS Sponsor ID: 1400327
Credit Hours Provided: 1
Category: CE Elective
Mortgage loan originators licensed under the Minnesota Department of Commerce (DOC) are required to take one hour of Minnesota regulation education every renewal period to keep their licenses in active status. This course includes the DOC mandated topics for annual mortgage licensee renewal.
The first module of this course will summarize the Minnesota Residential Mortgage Originator and Servicer Licensing Act, codified in Minnesota Statute (Minn. Stat.) Section 58. We'll review licenses standards of conduct, disclosure requirements, and permitted fees.
Module 2 will cover licensee prohibited acts and the Commissioner of DOC's authority to examine and investigate licensees.
The last module discusses a licensee's authority to originate residential mortgage loans. We'll review the state maximum interest rate limitations, allowing for loan assumptions, and late fee restrictions.
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
This course will prepare Minnesota DOC-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.
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.