logo

Contact OnlineEd
(866)-519-9597


Find this page again at:
https://www.onlineed.com/system/pages/courses.php?package=334&f=show_details&state=Missouri&field=9

8 Hours of 2018 Missouri MLO Continuing Education

Complete your Missouri loan originator continuing education, including the DoF 1-hour module.

$89.50

Add To Cart Read More

Online Course
Includes Video
Printable Certificate
PDF & EPUB eBook
Add To Cart

At A Glance:

Price: $89.50 (USD)
+ $12.00 NMLS Credit Banking Fee
Purpose: Complete 8-hour package for MO MLO licensees. Includes the 1-hour state specific requirement.
Features: online text, online video, printable certificate, PDF eBook
Hours: 8 Hours
Category: Mortgage > Continuing Education > Missouri
Sponsor /
Delivery:
OnlineEd
7405 SW Beveland Rd,
Portland, OR 97223
(503) 670-9278
mail@onlineed.com

Courses Included:

Terms of Service:

Complete 8-hour package for MO MLO licensees. Includes the 1-hour state specific requirement.

This package of courses includes the required continuing education necessary to renew a mortgage loan originator's license in the State of Missouri. The Missouri Division of Finance (DoF) requires licensees to take a total of 8 hours of continuing education each year: 7 hours in SAFE Act required topics, and 1 hour in MO-specific law and regulations.

Included in this course package are:

  • 1 Hour MO SAFE: Missouri Mortgage Laws (NMLS ID 7900) - This course goes over Missouri mortgage licensee regulations. The topics covered in this course are regulated by the Division, and include a review of the Missouri SAFE Act, the regulations regarding junior mortgages, and the Missouri Reverse Mortgage Act. Please review the Course Syllabus for more details about this course.

  • 7 Hour SAFE Core: 2018 Originator Fundamentals (NMLS ID 7924) - This course covers: TILA and RESPA (3 Hours Federal Law), mortgage advertising practices and BSA/SAR requirements (2 Hours Ethics), and various nontraditional mortgages such as EEMs and PACE programs (2 Hours Non-Traditional Mortgage). Please review the Course Syllabus for more details about this course.

These courses are new for 2018 and meet the SAFE Act's "successive years" rule.



This Package Includes:

1 Hour MO SAFE: Missouri Mortgage Laws

NMLS Course ID: 7900

NMLS Sponsor ID: 1400327

Hours Provided: 1

Category: CE Elective

View Course Syllabus

This course will cover several fundamental state regulations that Missouri mortgage loan originators must be familiar with. Being familiar with important laws in Missouri's residential mortgage loan industry will ensure that mortgage loan originators are compliant with the state's expectations of MLO behavior.

In the first module we are going to discuss Missouri law and rule requirements relating to operating a mortgage business in Missouri. The laws relating to how a mortgage loan originator is to operate and conduct their business affairs are based upon both statutory and administrative rules.

In the second module we are going to address Missouri specific issues relating to second/junior mortgages and reverse mortgages. The law relating to mortgages is generally similar throughout the United States in terms of general concepts. However, many states have enacted laws that address specific details that add specific state procedures and requirements. Missouri is no exception to enacting these laws that modify and add to the general mortgage law concepts.

Topics and Learning Objectives

This course consists of two modules and a 15-question final exam:

  1. The Basis of Missouri Law (30 minutes)
  2. Missouri-Specific Laws Impacting Mortgage Practice (10 minutes)
  3. Final exam (10 minutes)

Total study time: 1 clock hour

This course will prepare Missouri licensees to:

  • Identify the required conduct for licensees relating to office operation and reporting requirements.
  • List and discuss examples of prohibited conduct.
  • Discuss licensee advertising requirements and prohibitions.
  • Explain the required disclosures relating to the transfer of servicing and fee agreements.
  • Explain a licensee’s obligations regarding escrow accounts and advance fees.
  • List the permitted items a lender making a second mortgage may charge.
  • Discuss the rules relating to reverse mortgages in the context of Missouri law.

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 purchase.

7 Hour SAFE Core: 2018 Originator Fundamentals Additional video content is included

NMLS Course ID: 7924

NMLS Sponsor ID: 1400327

Hours Provided: 7

View Course Syllabus

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.

In the first module of this course we'll discuss the federal laws that regulate the mortgage industry. Our attention will first be focused on the Truth in Lending Act (12 CFR Part 1026 [Regulation Z]). The second topic focuses on the Real Estate Settlement Procedures Act (12 CFR 1024 [Regulation X]). These two federal laws are designed to protect the consumer when going through the process of applying for and obtaining credit.

The second module is written with a focus on consumer protection and proper mortgage advertising practices as defined by the CFPB's Mortgage Acts and Practices Advertising Rule (MAP Rule), the advertisement regulations of TILA and RESPA, and the FTC Advertising Rules. In this module you'll be provided with a better understanding of laws that protect consumers from untruthful mortgage advertising.

The third module will review the compliance requirements of the Bank Secrecy Act in regards to Anti-Money Laundering and the reporting of Suspicious Activity. It is designed to fulfill the training requirements of the Bank Secrecy Act (BSA) 31 CFR § 1010 and § 1029.

The fourth and last module covers unique mortgage product solutions for unique customers. We'll cover several non-traditional mortgages such as the 203(k) rehabilitation loan from FHA, several energy efficient loan products, and Fannie Mae's HomeReady® Mortgage Program.

Topics and Learning Objectives

This course is broken down into several learning topics. At the end of the course a 25-question final exam will be given. The topics included in this course are:

  1. Federal Laws That Regulate Lending – TILA and RESPA (150 minutes)
  2. Ethical Mortgage Advertisement Practices (75 minutes)
  3. Complying With the BSA/AML SAR Filing Requirements (25 minutes)
  4. Non-traditional Mortgage Products (100 minutes)
  5. Final exam (20 minutes)

Total study time: 7 clock hours

Module 1: Federal Laws that Regulate Lending – TILA and RESPA

Title I of the Consumer Credit Protection Act, known as the Truth in Lending Act (TILA), was first enacted in 1968. The provisions of TILA are implemented by Regulation Z. The Real Estate Procedures Act was enacted in 1976, and its provisions are implemented by Regulation X. These two federal laws help consumers better understand the financial terms they are obligating themselves to. TILA requires creditors to issue a good faith estimate of costs associated with the credit being offered, while RESPA discloses the costs of settlement services and prohibits unethical kickbacks between mortgage licensees. This module will outline both of these federal regulations.

Module 1 Objectives

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

  • Describe the transactions that are exempt from Truth in Lending Act regulations.
  • Explain the purpose of the Real Estate Settlement Procedures Act
  • Review what is and is not considered to be a permissible finance charge.
  • Outline the Truth In Lending Act regulations regarding open-end credit and closed-end credit.
  • Identify the kinds of promotions the TILA consider to be advertisements, including prohibited acts when advertising mortgage services.
  • Summarize the acts that would require issuing a revised Loan Estimate or Closing Disclosure.
  • Recognize the RESPA liabilities when dealing with Marketing Service Arrangements
  • Describe the loss mitigation procedures that loan services must comply with under RESPA

Module 2: Ethical Mortgage Advertisement Practices

This module is written with a focus on consumer protection. Most, if not all of the regulations of the mortgage and banking industry are implemented to protect the consumer. In this module you'll be provided with a better understanding of laws that protect consumers from untruthful mortgage advertising. Understanding what you can and cannot do in regard to advertising loan products is vital when dealing with the public and promoting your services. As an advocate for your customer it is up to you to be diligent in your understanding of the laws and regulations affecting our industry, how they affect you in your business, and how to adhere to them for compliance and consumer protection.

Module 2 Objectives

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

  • Identify the Consumer Financial Protection Bureau's rules on mortgage advertising, including the scope, definitions, and prohibited representations for mortgage loan promotional advertising.
  • Give examples of statements used in mortgage lending advertising that may be in violation of the CFPB's advertising rules.
  • Recognize the difference between the CFPB advertising rules and the rules set forth in the Truth in Lending Act.
  • Describe the restrictions on kickbacks and referral fees outlined in the Real Estate Settlement Procedures Act.
  • Explain the Federal Trade Commission's rules regarding advertised endorsements.
  • Recognize the importance of consumer privacy protection rules by understanding the national Do Not Call registry and the CAN-SPAM Act.

Module 3: Complying With the BSA/AML SAR Filing Requirements

This module will review the compliance requirements of the Bank Secrecy Act in regards to Anti-Money Laundering and the reporting of Suspicious Activity. We will outline the anti-money laundering compliance requirements and reinforce your knowledge of your requirements to report suspicious financial activity. The topic of failing to comply with BSA/AML SARs filing requirements is required study by all mortgage licensees for their 2018 NMLS renewal.

Module 3 Objectives

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

  • Identify the stages of money laundering.
  • Outline the process of authenticating a customer's identity at the point of establishing a
  • relationship or account with the customer.
  • Describe the information that should be included on a preliminary suspicious activity report.
  • Review the process a compliance officer must follow to file a suspicious activity report (SAR)
  • with FinCEN.
  • List various red flags that could imply fraud in the transaction.
  • Recognize the penalties for not complying with SAR filing requirements

Module 4: Non-traditional Mortgage Products

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 such as the Federal Housing Administration's 203(k) property rehabilitation loan, four types of energy efficient mortgage products, and the Fannie Mae HomeReady® rehab loan product.

Module 4 Objectives

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

  • Describe the guideline for the FHA 203(k) rehabilitation loan product.
  • Recognize the qualified improvement differences between the standard 203(k) and the limited 203(k).
  • Paraphrase the purpose of energy efficient mortgages (EEMs).
  • Review four EEM programs: the FHA EEM, the VA EEM, the Fannie Mae HomeStyle®
  • Energy Mortgage, and the Property Assessed Clean Energy (PACE) Program.
  • Outline Fannie Mae's rehabilitation mortgage product, the HomeReady Mortgage program.

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 purchase.

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: