20-Hour Pre-Licensing Class (PE)
20 Hour SAFE Comprehensive Course:
20-Hour Mortgage Loan Originator SAFE Comprehensive Course: Origination Essentials and Exam Preparation – Course ID 15021/15041
Mortgage Loan Originator Pre-licensing / National Topics
Course Provider:
Tennessee Mortgage Bankers Association
Provider ID: 1405071
Course Purpose
This course satisfies the requirements set forth by the Secure and Fair Enforcement Mortgage Licensing Act for a comprehensive 20-hour prelicensing course for mortgage loan originators.
Course Description
This course covers topics required by the SAFE Act: Federal lending legislation (3 hrs), ethics (3 hrs), and nontraditional mortgage products (2 hrs). Also included are 10 hours of electives and 2 hours of TN Law on key concepts, including financial disclosure, privacy protection, consumer I.D., and predatory lending protection laws; government loan programs; the SAFE Act; financial calculations; conventional loans and financing; loan processes, products, and finance instruments; and the Uniform State Test.
MLO Pricing 2024
$359/Members
$379/Non-Member
Course Learning Objectives
DAY 1 Learning Objectives:
▪Describe the universe of residential real estate financing
▪Identify key components of residential real estate financing
▪Understand government back loan programs
▪Review history and challenges of non-traditional lending
▪Understand role of Nontraditional Mortgage Product risk
▪Review difference between fixed and variable loan products
▪Define parameters of ARM products
▪Understand ARM calculations
▪Understand the origins of the SAFE Act
▪Learn about terms, limitations and prohibited practices
▪Review the Model State Law
▪Understand the purpose of RESPA
▪Review the various sections of RESPA
▪Determine the relationship of RESPA to TRID
▪Define the importance of RESPA section 8
▪Understand the purpose of TILA
▪Review the subparts of TILA
▪Understand the relationship between the Dodd Frank Act, CFPB and TRID
▪Define the relationship between RESPA, TILA and TRID
▪Review TRID coverage and retention
▪Review difference in business day rules
▪Review the Loan estimate and revised loan estimate
▪Understand the different tolerance
▪Review the Ability to Repay
DAY 2 Learning Objectives:
▪ Review the pre-closing activities
▪ Understand security instruments, forms of ownership and different participants
▪ Understand Fair Lending Laws (ECOA, FH Act, HMDA)
▪ Review terms related to ethics and prohibited practices
▪ Understand the consequences of fraud
▪ Understand fraud schemes
▪ Review Truth-in-Advertising Laws
▪ Review BSA/AML, Privacy, USA Patriot Act
▪ Understand the Loan Application
▪ Review Appraisal rules and guidelines
▪ Learn important Mortgage Calculations