+ $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: 10735
NMLS Sponsor ID: 1400327
To address the predatory lending practices, the New Mexico legislature passed the Home Loan Protection Act (HLPA). This legislature outlines the actions that creditors are prohibited from doing while working with a residential home loan that is protected by the act, and requires that loans have a reasonable, tangible benefit to the borrower.
This 2019 course will review the important provisions of the act, including a case study of how portions of the act were used in a legal court case. The first chapter of the course will review the act's definitions and purpose. The second chapter will identify specific acts and practices that creditors are not allowed to do while working with a HLPA-covered transaction. The third chapter sets out the limitations for high-cost home loans, and the fourth chapter defines the legal rights that borrowers have if in default on their loan as well as their legal rights that can be exercised against creditors who are in violation of the act.
This course is broken down into four modules and a case study. At the end of the course is a 15-question final exam. The topics included in this course are:
At the end of this course, you will be able to:
Total study time: 1 clock hours
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.