+ $1.50 NMLS Credit Banking Fee
|Purpose:||1-hour Massachusetts state-specific course for licensed mortgage loan originators|
|Features:||online text, printable certificate, PDF eBook|
|Category:||Mortgage > Continuing Education > Massachusetts > CE Elective|
7405 SW Beveland Rd,
Portland, OR 97223
1-hour Massachusetts state-specific course for licensed mortgage loan originators
NMLS Course ID: 7891
NMLS Sponsor ID: 1400327
The Massachusetts Division of Banks (DOB) requires mortgage licensees in this state to take a one-hour course on Massachusetts mortgage lending rules as part of the licensees' annual continuing education requirement for license renewal. This course covers five Massachusetts mortgage topics for licensee continuing education.
This five-module course begins with an overview of the structure and goals of the Division of Banks.
We'll then move onto module 2, covering mortgage loan originator licensing and explaining various prohibited acts that MLOs are not to do when originating residential mortgage loans.
Module 3 examines the licensing of mortgage bankers and mortgage lenders, and identifies the enforcement abilities of the Commissioner of the Division of Banks.
The fourth module summarizes the prohibited acts when dealing with high-cost mortgages and higher-priced mortgages within this state.
The last module outlines the lender's obligation when working with a borrower who is in default.
This course consists of three modules and a final exam:
This course will prepare Massachusetts-licensed MLOs 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.
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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.