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10 Hours of 2020 Utah MLO Continuing Education

Utah CE 10 Hours Online Self-Study Bundle

Complete 10-hour package for UT DRE MLO licensees. Includes the DRE 2-hour state specific requirement

Complete these Utah loan originator continuing education courses to renew your MLO license before the December 15, 2020 deadline.
$65.50
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Included Standard:

Online Course Includes Video Printable Certificate PDF & EPUB eBook

Optional Add-Ons:

Read-Along Audio MP3

Online Course

All learning is online. Start immediately. Learn on your own schedule.

Includes Video

Video segments highlight important points

Printable Certificate

Download and print your own certificate.

PDF & EPUB eBook

Includes PDF/EPUB eBook of all reading material for your tablet or Kindle.

Read-Along Audio MP3
Optional Add-On

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 Utah. The Utah Division of Real Estate (DRE) requires licensees to take a total of 10 hours of continuing education each year: 8 hours in SAFE Act required topics, and 2 hours in UT-specific law and regulations.

Included in this course package are:

  1. 2 Hour UT-DRE SAFE: Utah Mortgage Regulations (NMLS ID 11994) - This course covers the 2-hour state-specific category as required by the Division of Real Estate. We'll cover the Residential Mortgage Practices and Licensing Act and its recent changes, mortgage administrative rule changes, prohibited acts and practices, and review mortgage licensee disciplinary actions. Please review the Course Syllabus for details about this course.

  2. 8 Hour SAFE Comprehensive: 2020 Originator Essentials (NMLS ID 11655) - This course covers the required topics as mandated by the federal SAFE Act for annual NMLS mortgage license renewal. The topics in this course include conduct issues related to federal laws that are among the most frequently cited industry problems; a review of ethics in mortgage lending along with common mortgage fraud schemes; an explain of the benefits of the Fannie Mae HomeStyle® loan program; and a discussion about fair housing laws. Please review the Course Syllabus for more details about this course.

These courses are new for 2020 and meet the SAFE Act's "successive years" rule.

Summary

Price: $65.50 (USD)
+ $15.00 NMLS Credit Banking Fee
Credit Hours: 10
Category: Mortgage > Continuing Education > Utah
Purpose: Complete 10-hour package for UT DRE MLO licensees. Includes the DRE 2-hour state specific requirement
Features: Online Text, Online Video, Printable Certificate, PDF eBook

Courses Provided By:

OnlineEd
7405 SW Beveland Rd,
Portland, OR 97223
(503) 670-9278
mail@onlineed.com

Courses Included:

Terms of Service:

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:


Courses Included In This Package:

2 Hour UT-DRE SAFE: Utah Mortgage Regulations

NMLS Course ID: 11994

NMLS Sponsor ID: 1400327

Credit Hours Provided: 2

Category: CE Elective

View Course Syllabus

​​​​​​​The Utah Division of Real Estate (DRE) require those who hold a Utah mortgage license to completed a two-hour course on Utah mortgage laws and regulations as a requirement for annual license renewal. This online course covers the required topics as defined by the DRE for 2020 license renewal through the NMLS.

This two-hour course will cover the topics outlined by the DRE. We'll start with updates to the Utah Residential Mortgage Practices and Licensing Act that were added by the passing of Senate Bill 140 in 2019. Next, we'll explain the new education requirements for licensees who must apply for reinstament because they did not renew their licenses before the annual deadline. Module 3 will cover topics outlined by the Commission such as affirmative and prohibited duties, handling referral fees, and detecting deepfakes and wire fraud. Finally, we'll review cases of licensee violations that resulted in orders or fines by the DRE.

Topics and Learning Objectives

This course consists of four modules and a final exam:

  1. Updates to the Utah Residential Mortgage Practices and Licensing Act (15 minutes)
  2. Mortgage Administrative Rule Changes – Effective 2019 (5 minutes)
  3. Mortgage Commission Suggested Topics (20 minutes)
  4. Mortgage Licensing and Disciplinary Action Case Studies (50 minutes)
  5. Final exam (10 minutes)

Total study time: 2 credit hours

This course will prepare Utah DRE-licensed MLOs to:

  • Identify changes made by Utah Senate Bill 140.
  • Explain the requirements for temporary authorization to act as a mortgage loan originator.
  • Recognize the time limits for temporary authorization.
  • Recognize the new requirement that reinstatement applicants must complete the mandatory 5-hour continuing education course.
  • describe the difference between the allowed and not allowed activities when licensed or not licensed.
  • recognize prohibited conduct relating to kickbacks and unearned fees.
  • recognize how to detect and what to look for regarding security issues and scams.
  • Identify various prohibited acts based on real-life scenario case studies prosecuted by the Division.

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.

8 Hour SAFE Comprehensive: 2020 Originator Essentials

NMLS Course ID: 11655

NMLS Sponsor ID: 1400327

Credit Hours Provided: 8

Category: Comprehensive

View Course Syllabus

Course Description

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).

Topics and Learning Objectives

This course consists of four sections:

  1. Federal Mortgage-Related Laws
  2. Ethical Practices and Common Fraud Schemes
  3. The Fannie Mae HomeStyle® Renovation Loan
  4. Fair Housing in Today's Market

Total study time: 8 credit hours 

Module 1: Federal Mortgage Related Laws

Study Time: 3 clock hours (150 minutes of federal law)

  • The Truth in Lending Act (55 minutes)
  • The Real Estate Settlement Procedures Act (20 minutes)
  • The Equal Credit Opportunity Act (ECOA) (45 minutes)
  • Privacy of Consumer Financial Information (GLBA) (20 minutes)
  • E-Sign Act (10 minutes)

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. 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.

When you have completed this section, you will be able to:

  • identify the required disclosures to be given to consumers under the Truth in Lending Act.
  • define the fees that qualify or are exempt from the TILA definition of finance charges.
  • describe the delivery time requirements for the Loan Estimate and the Closing Disclosure.
  • list the tolerance limitations on certain fees and whether those charges are made in good faith by the creditor.
  • identify advertisement trigger terms that require additional disclosures 
  • explain the steps a creditor will take to ensure the consumer has the ability to repay the transaction.
  • paraphrase RESPA's regulations on prohibited kickbacks and unearned fees.
  • reproduce the categories that creditors may and may not consider when evaluating the creditworthiness of an applicant.
  • outline what actions under ECOA will require an adverse action notification disclosure to be sent to an applicant.
  • describe a consumer's right to receive written items of valuation that were created in connection with their loan application.
  • recognize a financial institution's responsibility to provide a clear and conspicuous notice to costumers regarding their privacy policies and practices.
  • outline how consumers must give their consent to receive electronic versions of their records.

Module 2: Ethical Practices and Common Fraud Schemes

Study Time: 2 clock hours (100 minutes of ethics, fraud, and consumer protection)

  • Ethical Mortgage Lending Practices (50 minutes)
  • Mortgage Fraud (50 minutes)

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.

When you have completed this section, you will be able to:

  • list and explain the fiduciary duties of a loan originator.
  • recognize unethical behavior in mortgage advertising, daily business, and processing of loans.
  • list the various red flags to potential money laundering or fraud.
  • identify specific types of mortgage fraud from case studies and examples.

Module 3: The Fannie Mae HomeStyle® Renovation Loan

Study Time: 2 clock hours (100 minutes of non-traditional mortgage)

In this module, we are going to explore mortgage rehabilitation loan products. This includes the FHA 203(k) Rehab Loan, the Fannie Mae HomeStyle® Rehab loan, and alternatives. We will discuss aspects of each program and how they compare to each other.

At the end of this module, you will be able to:

  • recognize the HSR qualifications for borrowers and property types.
  • describe how a lender can apply with Fannie Mae to offer the HomeStyle Renovation loan.
  • outline the steps necessary for a HomeStyle Renovation loan, from beginning to final inspection.
  • utilize the Maximum Mortgage Worksheet to apply for a HomeStyle Renovation loan.
  • compare the HSR loan to the FHA's 203(k), Streamlined 203(k), and Energy Efficient Mortgage.

Module 4: Fair Housing in Today's Market

Study Time: 1 clock hour (50 minutes of elective topics)

In this module, we will cover fair housing laws designed to protect consumers, your company, and yourself from discriminatory lending practices. Specifically, we are going to explore relevant provisions of fair housing and take a look at a few issues found in fair housing Law.

At the conclusion of this module, you will be able to:

  • identify discriminatory practices in the mortgage industry.
  • list the protected classes of individuals protected by fair housing.
  • define what is required to comply with fair lending in the mortgage industry.

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.

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