8 Hour SAFE Comprehensive Course

Credit hours: 8
Tuition: $137 course materials included
NMLS Course Approval Number 7085

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2017 Minnesota Course Dates
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One Day Class: One day from 8:00am to 5:00pm

Thursday, October 5 (Weekday)
Bloomington
Thursday, November 2 (Weekday)
Bloomington

Course Location

DoubleTree by Hilton Hotel Bloomington, MN - 7800 Normandale Blvd

Course Description

The Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act) requires that state licensed mortgage loan originators (MLO’s) complete continuing education at an NMLS approved school every year. The 8 Hour SAFE Comprehensive Mortgage Loan Originator Continuing Education Course for 2017 at Larson Educational Services meets this requirement.

At the conclusion of this 8 hour course, students will be armed with the knowledge to legally, safely and efficiently serve the needs of today’s borrowers and lenders in real estate financing transactions.

This course is designed to ensure students understand the Federal laws, such as RESPA, ECOA and TILA, in order to operate legally and ethically. Students will learn the requirements for delivery of the Integrated Disclosures, and general requirements for the Closing Disclosure. We'll explain how the CFPB supervises and examines financial service providers, and how to recognize types of mortgage fraud schemes and crimes. We'll also explain the new URLA Form 1003 effective 1/1/18. This course material is current with all laws and rules.

We will cover the following topics regarding loan origination:

  • Describe provisions of the Bank Secrecy Act related to detection and prevention of money laundering
  • Understand where and how to file a Suspicious Activity Report (SAR)
  • Describe transactions that are covered by the TILA-RESPA rule
  • Describe requirements for delivery of the Loan Estimate and the Closing Disclosure
  • Explain the good faith requirement and tolerances
  • Understand requirements for revisions and corrections
  • FHA annual and upfront mortgage insurance premiums
  • The current FHA qualifying standards, including income and FICO requirements
  • Explain the process in which the CFPB handles consumer complaints and how a consumer can file a complaint through the CFPB database
  • Describe types of mortgage fraud and how to recognize fraud schemes and crimes
  • Recognize illegal business practices and understand how those practices could have changed in order to operate legally and ethically
  • Through analysis of Case Studies, identify potential illegal activity in the mortgage marketplace
  • Understand Information for Monitoring Purposes Under the Home Mortgage Disclosure Act (HMDA)
  • Explain the new Fannie Mae URLA Form 1003 that is effective 1/1/18

We accept registrations all the way up to the course start time.

If the course date you want is listed as *SOLD OUT*, please call us to be placed on our waiting list. If we have any cancellations, students will be contacted and placed on the course roster based on the order they went on the waiting list.

Call us today with any questions

(239) 344-7510