This course includes the following:
ONLINE PE -3 Hour Online SAFE PE Texas State Law(4463)
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 3 hour course covers Texas Law relevant to Mortgage Loan Originators (MLOs) and meets the the education requirements as laid out by the Texas Department of Savings and Mortgage, or the TX-SML.
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)
Laws covered in this course include This course covers critical areas of Texas Mortgage law, including:
Texas SAFE Mortgage Licensing Act of 2009 (TFC Title 3, §180): The Texas SAFE Act law defines what constitutes being a residential mortgage loan originator (RMLO) and details licensing requirements and renewal requirements
Residential Mortgage Loan Company Licensing and Registration Act (TFC Title 3, §156) and Mortgage Banker and RMLO statutes (TFC Title 3, §157): Governs Licensing and conduct for Mortgage Loan Companies, Mortgage Bankers and RMLOs with regards to loan origination activities of other financial institutions under the jurisdiction of the Department of Savings and Mortgage Lending.
Home Equity Loans Laws (Texas Constitution Article XVI, §50): Describes the constitutional rights and rules regarding Homestead and extensions of credit based on liens on the equity of a homestead.
Reverse Mortgage Laws (Texas Constitution Article XVI, §50): Describes the product and regulation of reverse mortgages with regards to the product being a lien on a homestead
Foreclosure Laws (Texas Property Code, Title 5): Discusses the process for non-judicial foreclosure as well as the handling of deficiencies.
Texas SML Examination Procedures: Procedures discussed by the department detailing the method and process with regards to examinations
• Upon successful completion of this course you will have a strong understanding of the laws and regulations specific to mortgage loan originators and lenders in the state of Texas. Specifically, RMLOs will understand key laws governing registration and compliance, homestead laws regarding home equity liens and foreclosure, and TX-SML examination procedures.