This course includes the following:
ONLINE PE – 4 Hour SAFE PE – Federal Law Credit and Information (1694)
ONLINE PE – 3 Hour SAFE PE – Federal Law RESPA and SAFE (1695)
ONLINE PE – 3 Hour SAFE PE – Ethics, Fair Lending and Fraud (1646)
ONLINE PE – 4 Hour SAFE PE – Federal Law TILA (1700)
ONLINE PE – 4 Hour SAFE PE – Nontraditional Mortgages Overview (1699)
ONLINE PE – 4 Hour SAFE PE-Washington State Law (3502)
Printable Materials for SAFE Core 20 Hours
This course is a computer-based, online instructor led (“OIL”) course, allowing you to work anywhere and at all times of the day. You will have access to instructors through forums and email.
Our system is extremely flexible – each course consists of 2-5 hour modules, each of which will last 2 to 3 days. You can start all modules at once or stagger them over days or weeks. Each module is available to start up to three times a week.
By NMLS specifications, you will complete case studies which must be approved and then reviewed by you before completing the final exam.
This course covers SAFE Prelicense Education Requirements for any state without state-specific education. Specifically, this course includes the required 4 Hours on Washington State Law, 3 Hours on Federal Law and Regulations, 3 Hours on Ethics, 4 Hours on Nontraditional Mortgages and other courses that will complete your 20 hour requirement.
This education is delivered in the Online-Instructor Led (“OIL”) format as required by the NMLS for online Pre-Licensure (“PE”) education. It is available on our website through any internet connection.
Important features include:
Defined start and end dates (See Course Calendar).
Interaction with the instructor and students through forum activities
Progression as a cohort. At times you will wait for instructor feedback before continuing.
(Note: This is not an “Self-Study” course and does not allow for study at any pace or without instructor/classmate interaction)
Our Unique Modular Lesson Plan. We offer a unique experience by breaking our course down into modules of 2 and 5 hours, each of which can be started at any of defined start times in the course calendar. A couple of example study plans may be:
Example A: A person new to the industry decides to progress in the recommended order over a two week period.
Example B: An industry veteran may focus on the federal law modules first and concentrate their studies to less than one week.
The modules included are:
Washington State Law
This course covers Washington Compliance Law pertaining to Mortgage Loan Originators. During this 4-hour pre-licensing course we will detail prohibited conduct and practices, required conduct, fees and charges, disclosures and agreements, and advertising:
We will cover several laws and regulations including the Mortgage Broker Practices Act, Mortgage Lending and Home ownership Laws, and several Consumer Protection laws and regulations
Ethics, Fair Lending and Fraud
This course provides an ethical foundation and summary for Fair Lending Laws, a summary of fraud schemes and preventative measures and, lastly, focuses on a couple of key topics in Fair Lending. Specifically, this course includes the following modules:
How Laws Enforce Ethics – this module covers the ethical and economic basis for laws and discusses the purpose of various fair lending laws in the mortgage industry.
HOEPA and Predatory Lending – this module details the topic of predatory lending, showing the various methods that have been used and the general prohibitions HOEPA outlines to protect consumers from these practices
Mortgage Fraud – this module covers the common mortgage schemes that have been practiced as well as some basic preventative measures
Federal Law: RESPA and SAFE
In this course, we are going to cover RESPA and the SAFE act. As with most laws, these laws are, in the end, aimed at preventing industry behavior that negatively impacts consumers such as fraud and information that is not uniform and comparable. Knowing these laws well will be critical for your business with regards to regulators, litigation and reputational challenges. The two laws covered are:
Federal Law: Credit and Information
In this course, we are going to cover a number of Federal Laws and regulations that deal with the extension of credit to borrowers based on information about the borrower and the handling and use of consumer information in the mortgage industry. Specifically, we will cover the below.
Federal Law: TILA
In this course, we are going to cover the Truth-in-Lending Act, generally known as TILA. Along with any discussion of TILA, there are several important amendments. One that we will spend a fair amount of time on is HOEPA. We have also included the newest updates resulting from MDIA. Knowing TILA well will be critical for your business with regards to regulators, litigation and reputational challenges.
This course additionally details the Truth-In-Lending Disclosure, the Right to Rescission Form and the Section 32 Truth-In-Lending Disclosure
Nontraditional Mortgages Overview
This course summarizes a broad selection of non-traditional mortgages that have been introduced over the last 30 years. This course is taught in context of the 2007 housing meltdown and includes the features, pros/cons and pitfalls of each type of loan.
Specific loans covered include:
• Adjustable rate mortgages (ARMs)
• Interest Only mortgages (IOs)
• Negative Amortization mortgage
• Construction permanent mortgages
• Reverse Mortgages