20 Hours SAFE PE (Includes PA State Law) – ONLINE INSTRUCTOR LED

Course 20 Hours SAFE PE (Includes PA State Law) – ONLINE INSTRUCTOR LED
$349
$279

This course includes the following:
ONLINE PE – 2 Hour SAFE PE – Loan Basics (1691)
ONLINE PE – 3 Hour SAFE PE – Ethics, Fair Lending and Fraud (1646)
ONLINE PE – 3 Hour SAFE PE – Federal Law RESPA and SAFE (1695)
ONLINE PE – 4 Hour SAFE PE – Federal Law: Credit and Information (1694)
ONLINE PE – 4 Hour SAFE PE – Federal Law: TILA (1700)
ONLINE PE – 4 Hour SAFE PE – Nontraditional Mortgages Overview (1699)

Since this course is an online instructor led (“OIL”) course, you will have access to instructors through office hours, forums and email.   You will be able to work on this course anytime and anywhere you have a high speed internet connection.

By NMLS specifications,you will have to pause and wait for instructor feedback at times during the course.   Our flexible system allows you to purchase and then wait as long as you want before starting any module. Once you enter a module, you will have three to five days to finish.


20 Hours SAFE PE (Includes PA State Law) – Webinar

 

 

Loan Basics

 

This course provides the “key elements” a loan officer needs to understand as they enter the mortgage industry.   It focuses on the most critical part of the business – qualifying a customer and making the right type of loan for the right client.

  • The “Three C’s” – Credit, Collateral and Capacity are discussed in detail providing the loan officer with the basic understanding of who makes a good prospective borrower and what property is acceptable for security.
  • Full Document Loans – A complete explanation of the requirements to provide a borrower with the lowest possible rate with the best terms available.  Heavy emphasis on qualification and accurate documentation.
  • Limited Doc Loans or No Doc Loans – Alternatives are explored that can be used to provide mortgage loans to those who will not qualify for a Full Document Loan.  There is a strong emphasis on provision of tax returns and bank statements to demonstrate cash flow.
  • Basic Loan Products – This section covers the differences between a conforming, a subprime (non-conforming), FHA and VA loan.  It also touches on some of the more common loan structures.

 

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.

 

Pennsylvania State Law

 

Chapter 61 of Pennsylvania’s “Mortgage Loan Industry Licensing and Consumer Protection Act,” as amended by the “Mortgage Licensing Act of 2009,” states that Pre-Licensing Education must include 3 hours of State Law and Regulations consisting of a discussion of three laws.  This course discusses each of these laws in separate modules

 

  • Module 1:  Chapter 61 of the Mortgage Loan Industry Licensing and Consumer Protection Act
  • Module 2:  The Housing Finance Agency Law (December 3, 1959; P.L.1688, No.621)
  • Module 3:  The Loan Interest and Protection Law (January 30, 1974; P.L.13, No.6)

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
  • Buydowns
  • Construction permanent mortgages
  • Balloons
  • HELOCs
  • Reverse Mortgages

Course 20 Hours SAFE PE (Includes PA State Law) – ONLINE INSTRUCTOR LED
$349
$279

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