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1 Hour CO SAFE: 2019 Colorado Mortgage Lending Laws

This course meets the DORA state-specific requirement for MLO annual license renewal through the NMLS.

$19.50

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At A Glance:

Price: $19.50 (USD)
+ $1.50 NMLS Credit Banking Fee
Purpose: 1-hour Colorado state-specific course for DORA-licensed mortgage loan originators
Features: online text, printable certificate, PDF eBook
Hours: 1 Hour
Category: Mortgage > Continuing Education > Colorado > CE Elective
Sponsor /
Delivery:
OnlineEd
7405 SW Beveland Rd,
Portland, OR 97223
(503) 670-9278
mail@onlineed.com

Terms of Service:

1-hour Colorado state-specific course for DORA-licensed mortgage loan originators

NMLS Course ID: 10605

NMLS Sponsor ID: 1400327

View Course Syllabus

Mortgage loan originators licensed under the Colorado Department of Regulatory Agencies (DORA) Division of Real Estate are required to take one hour of Colorado regulation education every renewal period to keep their licenses in active status. This course includes the DRE mandated topics for the 2019 mortgage licensee renewal cycle.

This course begins with an overview of recent regulation updates to Colorado Revised Statutes (CRS) such as the requirements for receiving an MLO license. The second module will explain the Protection for Consumer Data Privacy rules effective as of September 2018. The third module is a review of Errors and Omission (E&O) insurance requirements. The fourth module describes a licensee's responsibility to make reasonable inquiries to their loan applicants, and the fifth and last module demonstrates a licensee's expectation of competency.

Topics and Learning Objectives

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:

  1. New Colorado Regulations (5 minutes)
  2. New Colorado Laws (9 minutes)
  3. Errors and Omissions Insurance (6 minutes)
  4. Reasonable Inquiry (6 minutes)
  5. Competency (14 minutes)
  6. Final exam (10 minutes)

Total study time: 1 clock hour (50 minutes)

This course will prepare Colorado DRE-licensed MLOs to:

  • Review who needs to be licensed as a Colorado mortgage loan originator and the requirements for licensure.
  • Identify the new reinstatement rule that may require a candidate to retake their prelicense education if their license lapses.
  • Interpret HB18-1128 (Protections for Consumer Data Privacy), a new regulation requiring covered entities to develop policies for securing and properly disposing of personal information.
  • Describe the purpose of Errors and Omissions (E&O) Insurance.
  • Identify who is required to carry E&O Insurance and the coverage amount requirements.
  • Outline a MLO's duty of good faith, fair dealing, properly recommend products, and make a reasonable inquiry concerning the borrower's income and debts.
  • Recognize the DRE's expectation of competent mortgage loan activity.
  • Identify the specific disclosures that need to be given during specific transaction situations.

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

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: