8 Hour SAFE Comprehensive: 2022 Originator Essentials
General 8-hour online continuing education course for MLO licensees who do not need a state-specific course
All learning is online. Start immediately. Learn on your own schedule.
Video segments highlight important points
Download and print your own certificate.
Includes PDF/EPUB eBook of all reading material for your tablet or Kindle.
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 8-hour NMLS continuing education 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.
In the first module of this course we'll cover a variety of conduct issues related to federal laws that are among the most frequently cited industry problems. We'll divulge into topics such as loan decisioning failures and adverse actions, electronic delivery of information, and valuation rules. We'll also cover FHA lending regulations, issues regulators are finding with Loan Estimate and Closing Disclosure delivery, and the disclosure of information that must be given to consumers. The topics in this module are mandated by the CSBS.
The second module is written with a focus on consumer protection, specifically a licensee's ethical conduct with regards to consumers. We'll also cover several types of common mortgage fraud schemes.
The third module covers unique mortgage product solutions for unique customers. This module touches on a variety of non-traditional mortgage products. We'll cover the HomeStyle Renovation loan, the Good Neighbor Next Door program, reverse mortgages, the VA home loan, and the new Fannie Mae RefiNow loan.
The fourth and last module outlines how to comply with regulations to ensure a property appraiser is not improperly influenced by a licensee.
Please review the Course Syllabus for more details about this course.
This mortgage loan originator training satisfies 8 hours of required continuing education for 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 2022 and meets the SAFE Act's "successive years" rule.
+ $12.00 NMLS Credit Banking Fee
|Category:||Mortgage > Continuing Education > CE Comprehensive|
|Purpose:||General 8-hour online continuing education course for MLO licensees who do not need a state-specific course|
|Features:||online text, online video, 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: 13767
NMLS Sponsor ID: 1400327
Credit Hours Provided: 8
Category: CE Comprehensive
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).
This course consists of four sections and a final exam
Maintaining Compliance in the Mortgage Industry
Ethical Practices and Common Fraud Schemes
Non-traditional Mortgage Products
Complying with Appraisal Independence Requirements
Total study time: 8 credit hours (6 hours, 40 minutes)
Study Time: 3 clock hours (150 minutes of federal law)
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 as mandated by the NMLS. 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.
Study Time: 2 clock hours (100 minutes of ethics, fraud, and consumer protection)
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.
Study Time: 2 clock hours (100 minutes of non-traditional mortgage)
Besides a traditional conventional loan product, there are other options available when it comes to rehabilitating a home for purchase and refinance that may more perfectly fit the rehab loan needs of the borrower. This module will explain several non-traditional mortgage products, exploring other options available to borrowers.
We'll go over the Fannie Mae HomeStyle® renovation program, the Good Neighbor Next Door program, reverse mortgages, the VA loan, and Fannie Mae's new RefiNow™ program.
Study Time: 1 clock hour (50 minutes of elective topics)
The fourth and last module illustrates the importance of appraiser independence requirements. We will review these requirements as outlined by various federal regulations, agencies and published guidance.
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.