Late CE - 8 Hour Online CE (Includes CA State Law)

Summary

The content of this course is the same as Course ID 6066 and 13644 and is intended to satisfy CE requirements for 2022. MLOs who take this course cannot take Course ID 14448 or 14428 in 2023.

This course covers SAFE CORE Continuing Education Requirements of 7 hours includes the required CORE of 3 Hours on Federal Law and Regulations, 2 Hours on Ethics and 2 Hours on Nontraditional Mortgages & 1 hour on  California State Law

The course is divided into four sections:


1 Hour Online SAFE CE - California Law

This 1-hour course covers California Law relevant to Mortgage Loan Originators (MLOs) and meets the education requirements as laid out by the California Department of Business Oversight (CA-DBO)

Ethics

• An understanding of Identity theft rules including who must comply with the red flags rule, how to comply and how to administer a red Flags program.

• An understanding of telemarketing and consumer fraud, the do not call registry, what calls are covered and exemptions for certain organizations

• An understanding of advertising rules, record keeping requirements for advertisements and examples of how financial institutions may violate these rules

Federal Law

• An understanding of what is the TILA-RESPA rule and TRID, what transactions are covered, disclosure requirements, tolerance limitations, changes that require re-disclosure,charges subject to zero tolerance.

• Also have knowledge of Loan Estimate and Closing Disclosure timing and delivery requirements, revision and correction requirements.

• An insight into most common RegZ deficiencies

• An understanding of RESPA and REG X requirements including Kickbacks and unearned fees, Penalties, Home ownership counseling requirements

• An working knowledge of Equal Credit Opportunity Act and Fair lending including Prohibited basis for discrimination, disparate treatment, permissible acts, certain notices, and acceptable income in loan review.

• An understanding of the Gramm-Leach Bliley act including privacy of consumer information, privacy notices and opt-out requirements

Non-Traditional Mortgages

• An understanding of changes to FHA guidelines in 2020 and how they will effect 2021 originations

• An understanding of the special rules put in place for COVID relief

• A knowledge of alternative products, including rehabilitation,

• Specialty Finance products including affordable housing programs.