2017 NMLS Online Self-Study 8 Hour SAFE Comprehensive CE #6963
2 Versions Available: Video/Audio and Read-Only Course
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This course fulfills the 8 hour continuing education requirement needed to renew an NMLS mortgage loan originator license in 2017. CLICK HERE to add more courses.
NOTE: If your state requires a state-specific elective, please select your state from the drop down menu above.
This multimedia continuing education course is presented in an online video format. the course is made up of HD video sections averaging 5 minutes in length. Video sections are followed by quiz material and culminate in a course cumulative final exam. The course is presented by David Luna.
*This course is also available in a read-only slideshow format.
The course is made up of 5 chapters broken into 5 minute sections that require clicking to advance to the next video. After completing the initial introduction tot he course, each section will start the next video. At the end of that video, students click to advance to a one question quiz that focuses on that specific section. After answering the question, the student clicks to move on to the next video section. In some cases, these quizzes are replaced with real-world case studies to help students see real-world application of concepts.
At the end of each chapter, a chapter quiz is presented. At the end of the course, a cumulative final exam is given. Once passed, the student's course completion certificate will be available. Students must complete all presentation and activity sections, all quizzes and tests, and the final exam to receive a certificate of completion and credit for the course.
The course will be immediately loaded into your MyMEC account upon purchase. You will have 24/7 access to the course until it expires on January 1, 2018.
NOTE: THE DEADLINE TO COMPLETE CE VARIES BY STATE. CLICK HERE TO VERIFY YOUR STATE'S DEADLINE.
Meet Your Instructor: David Luna
David Luna is the President of Mortgage Educators & Compliance and has more than 35 years of experience in the mortgage lending industry. With an unmatched sense of with, a natural flare for teaching, and a well of knowledge from decades in the industry, David is the best the mortgage education industry has to offer!
David has been a consultant for Fannie Mae and Freddie Mac as well as several large banks. David has made appearances on NBC, CBS, and ABC as well as been featured in Mortgage Technology Magazine, National Mortgage Press, and dozens of newspaper publications. David has also been named one of the 50 Most Connected Mortgage Professionals by Mortgage News Network.
8 Hour NMLS Continuing Education Course Outline
Chapter 1 - Elective: Home Ready vs. Home Possible Mortgages
Many MLOs are confused by the various products offered by Fannie Mae or Freddie Mac. At the end of the course, students will be educated on the specific details of Fannie Mae and Freddie Mac product offerings and will be able to use this knowledge to help consumers find the product that works best for them.
- Demonstrate an understanding of Fannie Mae and Freddie Mac product offerings
- Become familiar with the home ready income eligibility tool
- Understand the role and purpose of home possible mortgages
Chapter 2 - Non-Traditional Mortgage: Adjustable Rate Mortgage
Students will be able to expand their loan program offerings with this unique mortgage loan program as well as learn the advantages of being able to offer a program that allows for adjustable rates. Students will see more clearly the type of client who may benefit from such a program.
- Be able to explain and discuss the advantages and disadvantages of adjustable rate mortgages (ARMs)
- Review the various types of ARMs
- Gain an understanding of fully indexed initial interest rates.
Chapter 3 - Federal Law: The New Home Mortgage Disclosure Rule
In our current climate of increased transparency, HMDA allows for mortgage loan files to be reviewed and by doing so, protects customers. Understanding HMDA more fully allows for MLOs to avoid discriminatory practices, shed light on trends in loan files, and be more successful.
- Understand the new home mortgage disclosure rule (HMDA)
- Demonstrate an understanding of HMDA coverage criteria
- Review HMDA data and understand how it can be useful
- Evaluate case studies regarding how HMDA affects consumers
Chapter 4 - Federal Law: HMDA and the New URLA
Students will leave with a better understanding of the URLA and how it is to be utilized and understand how HMDA plays a role in the new URLA. Students will also gain an understanding of the new 1003 and how it has been changed to be more user-friendly.
- Understand the new uniform residential loan application (URLA)
- Gain a greater facility in navigating the new URLA
- Be able to explain the URLA to clients, answering questions regarding the application
Chapter 5 - Fair Lending, Fraud, and Consumer Protection
Students will leave with a better understanding of fair lending and industry expectations for MLOs. They will gain insight on how to protect themselves and consumers from various types of fraud. Common features of a well-developed compliance management system will also introduced.
- Know how to protect against money laundering
- Understand the process of reporting suspicious behavior
- Become acquainted with production incentive programs
- Develop a greater knowledge of fair lending and its rules
Final Exam and Course Review
This 25 question final exam will assess your understanding of the course. After passing the final exam, complete the course completion form in order to receive credit. An optional end-of-course survey may be filled out as well to provide feedback to Mortgage Educators & Compliance.
Course Credit Submission to the NMLS
The NMLS requires that education providers report education credit hours within 7 calendar days. Mortgage Educators & Compliance generally aims to report online education credits within 1-2 business days after completion. If you do not see your education credits reflected or would like expedited credit banking, contact MEC Support.
NMLS Continuing Education Policy
As a condition for license renewal, an MLO is required to complete at least eight (8) hours of continuing education in the same year in which he/she is placed in an approved license status by a state agency, with the following exception -- an MLO who has completed his/her pre-licensure education (PE) course requirements in the same year in which the license was approved, is not required to complete CE.
SMART Deadline: Monday, December 18, 2017
At-Risk-to-Miss Renewal Deadline: Tuesday, December 26, 2017
Guaranteed to Miss Renewal Deadline: Saturday, December 30, 2017
NMLS Course Provider #1400062
REFUND POLICY: If you have not yet started the course, you may receive a full refund within 24 hours of purchase, or a partial refund of 75% within 30 days of purchase. If the course has been accessed and started within our system, a refund cannot be granted.