1 Hour Online – New Mexico State Law

Summary

This course satisfies the 1 hour state-specific continuing education requirement for Mexico Licensed Mortgage Loan Originators (MLOs). During this course,we will cover key topics the New Mexico MLO must know and abide by for the Home Loan Protection Act.


The course is divided into four sections:

Section 1:  Introduction and Definitions – Gives a brief description of each law and regulation and reviews the definitions found in the law.

Section 2:  Prohibited Practices and Provisions – Covers what the Act details as prohibited practices and provisions regarding home loans.

Section 3:  Limitations for High Cost Home Loans – Covers what the Act details as limitations and prohibited practices for high-cost home loans. It then provides a sample disclosure notice to borrowers.

Section 4:  Enforcement – Covers what will happen if an MLO violates any of the statutes or regulations that have been discussed.

 

Learning Objectives

Upon successful completion of this course you will have a basic understanding of the rules and requirements of the New Mexico Home Loan Protection Act.