+ $1.50 NMLS Credit Banking Fee
|Purpose:||1 hour state-specific online continuing education course for New Mexico mortgage loan originators.|
|Features:||online text, printable certificate, PDF eBook|
|Category:||Mortgage > Continuing Education > New Mexico > CE Elective|
7405 SW Beveland Rd,
Portland, OR 97223
NMLS Course ID: 7922
NMLS Sponsor ID: 1400327
This 2018 course will cover fundamental state regulations that New Mexico mortgage loan originators must be familiar with. Being familiar with important laws in New Mexico's residential mortgage loan industry will ensure that mortgage loan originators are compliant with the state's expectations of MLO behavior.
The New Mexico Mortgage Loan Originator Licensing Act (MLOLA) was passed to manage the licensing of NM mortgage loan originators. This course will cover the act, including the authority of the Financial Institutions Division, the requirements for licensure, and what could happen to licensees who are not in compliance with MLOLA.
Students will learn how the state defines a residential mortgage loan originator, what the powers of the Director of the Financial Institutions Division are, and understand the violations for unlicensed origination activities. New Mexico MLOs will also be reminded of suerty bond requirements, and what their duties are as mortgage loan originators.
This course is broken down into several learning topics. A 15-question final exam will be presented at the end of the course. The topics included in this course are:
This course will prepare New Mexico MLOs to:
Total study time: 1 clock hour
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.
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.