+ $1.50 NMLS Credit Banking Fee
|Purpose:||1 hour state-specific online continuing education course for Kentucky mortgage loan originators.|
|Features:||online text, printable certificate, PDF eBook|
|Category:||Mortgage > Continuing Education > Kentucky > CE Elective|
7405 SW Beveland Rd,
Portland, OR 97223
1 hour state-specific online continuing education course for Kentucky mortgage loan originators.
NMLS Course ID: 7875
NMLS Sponsor ID: 1400327
The Commissioner of the Kentucky Department of Financial Institutions (DFI) requires mortgage licensees in this state to take a one-hour course on Kentucky mortgage lending rules as part of the licensees' annual continuing education requirement for license renewal. This course covers Kentucky mortgage topics for licensee continuing education.
The first module of this course outlines the branches within the DFI and reviews several definitions outlined in Kentucky Revised Statute (KRS) chapter 286, the regulation that defines mortgage lending services in this state. We'll review initial licensing requirements and the steps needed to maintain the authorized license.
The second module explains compliance requirements and disciplinary actions available to the commissioner. We'll outline prohibited conduct that licensees should avoid as well as explain conduct that are expected during the lending process. This course will also define the limitations on fees and the state usury regulations, actions that might result in license suspension, and the commissioner's available penalties that can be ordered against guilty licensees.
This course consists of two modules and a final exam:
Module 1: Kentucky DFI, State Law Definitions, and State License Law (13 minutes)
Module 2: Compliance and Disciplinary Actions (27 minutes)
Final exam (10 minutes)
This course will prepare Kentucky-licensed MLOs to:
Generalize the structure of the Kentucky DFI
Describe the powers and duties of the Commissioner of the DFI
Review important term definitions, including those specific or unique to Kentucky regulations
Identify the licensing and registration exemptions covered in Kentucky law
Identify the requirements to obtain and maintain a license or registration
Illustrate and avoid prohibited practices and conduct
Summarize the Kentucky Residential Mortgage Fraud Act
Define the required conduct that is expected in the course of day-to-day operations
Give examples of appropriate - and inappropriate - fees and charges, including those for reverse mortgages
Identify the criteria for usury in the Commonwealth of Kentucky
Explain appraisal independence requirements through case study and review Kentucky-specific appraisal laws
Recognize DFI disciplinary actions, including license denial, suspension or revocation, penalties and fines, and civil liability.
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.