Late CE - 1 Hour SAFE CE - Kentucky Law - State Law

Summary

THIS IS LATE CE. IT IS INTENDED TO SATISFY EDUCATION REQUIREMENTS FOR 2023 or EARLIER. THIS COURSE WILL NOT GIVE CREDIT FOR 2024.

This course covers Kentucky Law relevant to Mortgage Loan Originators (MLOs) and meets the continuing education requirements for the state of Kentucky.  During this 4-hour course covering Kentucky Mortgage law, we will cover several laws including: Kentucky Revised Statutes in KRS 286.8, mortgage law changes in HB 106 and Usury 360-100 detailing Predatory lending and high cost home loans.

The course is divided into five sections:

Section 1:  Kentucky department of financial institutions - Covers the Regulatory authority of the department, the department / agency structure and its responsibilities and limitations

Section 2:  State Law and regulation definitions – Summarizes KRS 286.8 and 360-100, Mortgage loans, fees, HB 106 and the SAFE Act and associated regulations and, lastly, the state specific definitions related to these laws.

Section 3:  Kentucky license specifics – Covers general licensing requirements in the state including surety bonds, companies and persons applicable to licensing and application requirements.

Section 4:  License continuance – Covers the grounds for denying a license and requirements for license maintenance.

Section 5:  Prohibited Acts and Practices – Details prohibited conduct, required conduct, fees and charges, disclosures and agreements and advertising

Section 6:  Usury – Details Kentucky’s specific legal focus on and rules regarding Usury.

Section 7:  Disciplinary action – Discusses notifications, hearings and appeals, then suspension, revocation and rescission of licenses, then finally, penalties/fines and civil and criminal liability

Learning Objectives

Upon successful completion of this course you will have a strong understanding of several of the laws and regulations specific to mortgage loan originators and lenders in the state of Kentucky.