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1 Hour NM SAFE: Mortgage Loan Originator Licensing Act

1 hour state-specific online continuing education course for New Mexico mortgage loan originators.

$20.50

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At A Glance:

Price: $20.50 (USD)
+ $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
Hours: 1 Hour
Category: Mortgage > Continuing Education > New Mexico > CE Elective
Sponsor /
Delivery:
OnlineEd
7405 SW Beveland Rd,
Portland, OR 97223
(503) 670-9278
mail@onlineed.com

Terms of Service:

NMLS Course ID: 7922

NMLS Sponsor ID: 1400327

View Course Syllabus

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.

Topics and Learning Objectives

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:

  1. Residential Mortgage Loan Originators (15 minutes)
  2. The Powers of the Director (25 minutes)
  3. Final Exam (10 minutes)

This course will prepare New Mexico MLOs to:

  • Understand the MLOLA's definition of a mortgage loan originator
  • Outline the powers of the Director of Financial Institutions Division
  • Describe the requirements for mortgage loan originator licensing
  • Summarize the steps needed to renew a New Mexico MLO license
  • Recognize the severity of violating the MLOLA and identify the penalties for violations.

Total study time: 1 clock hour

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

Our Mission Statement

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.
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: