This Course Includes:
- OIL – 2 Hour Online NE SAFE PE – Nebraska State Law (3601)
This course discusses Nebraska’s Residential Mortgage Licensing Act (RMLA) and satisfies the 2 hours of state-specific required education for Nebraska Mortgage Loan Originators. The RMLA regulates mortgage lending to ensure fair practices by brokers and MLOs. We will introduce the RMLA, first by looking at exemptions and licensing requirements. We will also discuss disciplinary actions,duties and prohibited acts.
Online Instructor Led (“OIL”). This education is delivered in the Online Instructor Led format as required by the NMLS for online Pre-Licensure (“PE”) education. It is available on our website through any internet connection.
Important NMLS specifications include:
• Defined start and end dates (See Course Calendar at top of page).
• 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)
Our Unique Modular Lesson Plan. We offer a unique experience by breaking our course down into modules of 2 and 5 hours, each of which can be started at any of defined start times in the course calendar. A couple of example study plans may be:
• Example A: A person new to the industry decides to progress in the recommended order over a two week period.
• Example B: An industry veteran finishes all 20 hours in three days, taking the federal law courses first.
The lessons included in this course are:
· Overview and RMLA Definitions and Exemptions. Summarizes the law, defines key terms and specifies individuals and organizations that are exempt from licensure.
· Licensing and License Maintenance. Discusses license requirements, renewal requirements, license reactivation and termination.
· Disciplinary Actions. Gives an overview of license suspension, enforcement and director’s investigation powers.
· Duties and Prohibited Acts. Outlines duties of licensed MLOs and acts prohibited by the RMLA.