|This course includes the following:|
4 Hour Webinar SAFE PE – North Carolina State Law
This coursecovers North Carolina law and regulations pertaining to Mortgage LoanOriginator licensing and is structured to reflect the outline of the NorthCarolina State License Exam. This classis divided into several sections:
Section I – State Regulatory Agencies introduces the North CarolinaBanking Commission and looks at the department as a Regulatory Authority, themove to department agency structure and its general responsibilities andlimitations.
Section II – State Law and RegulationDefinitions introducesMortgage Loan Originators to basics of State Law & Regulation Definitionsbeginning with discussion of Mortgage loans, fees, and obligations addressed inArticles 19A and 19B of Chapter 53.
Section III – State License Law andRegulations Discuss theamended and/or revised requirements for the licensing of residential mortgagelenders, brokers, correspondent lenders, mortgage loan originators, and“qualified” individual licensees in the state of North Carolina
Section IV – Compliance, discusses a number ofrequirements and expectations of all mortgage licensee types to includerequired conduct and prohibited practices, rules on mortgage fees and chargesto include North Carolina General Statute restrictions, disclosure requirementsand advertising prohibitions.
Section V – Disciplinary Action discusses the repercussions offailure to comply with state and federal mortgage law and how the powers of theDepartment of Banking and Finance as the regulator overseeing compliance. Topics covered will include: Notifications, Hearings, and Appeals;Revocation of License; Administrative Fines; Civil and Criminal Liability; andCease and Desist Orders.
Section VI –Unique State test areas discusses requirements for conducting reversemortgage originations and discusses the regulation of mortgage servicing inNorth Carolina.