+ $1.50 NMLS Credit Banking Fee
|Purpose:||1-hour Minnesota state-specific course for DOC-licensed mortgage loan originators|
|Features:||online text, printable certificate, PDF eBook|
|Category:||Mortgage > Continuing Education > Minnesota > CE Elective|
7405 SW Beveland Rd,
Portland, OR 97223
1-hour Minnesota state-specific course for DOC-licensed mortgage loan originators
NMLS Course ID: 10721
NMLS Sponsor ID: 1400327
Mortgage loan originators licensed under the Minnesota Department of Commerce (DOC) are required to take one hour of Minnesota regulation education every renewal period to keep their licenses in active status. This course includes the DOC mandated topics for the 2019 mortgage licensee renewal cycle.
The first module of this course will summarize the Minnesota Residential Mortgage Originator and Servicer Licensing Act, codified in Minnesota Statute (Minn. Stat.) Section 58. We'll review licenses standards of conduct, disclosure requirements, and permitted fees.
Module 2 will cover licensee prohibited acts and the Commissioner of DOC's authority to examine and investigate licensees.
The last module discusses a licensee's authority to originate residential mortgage loans. We'll review the state maximum interest rate limitations, allowing for loan assumptions, and late fee restrictions.
This course is broken down into several learning topics. At the end of the course a 15-question final exam will be given. The topics included in this course are:
Total study time: 1 clock hour (50 minutes)
This course will prepare Minnesota DOC-licensed MLOs to:
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.