This Course Includes:
- Hour Online NY SAFE CE – New York Mortgage Professional’s Rulebook (1805) – O
This course satisfies the 3 hour state-specific continuing education requirement for New York Licensed Mortgage Loan Originators (MLOs). During this course, we will cover key topics the New York MLO must know and abide by.
The course is divided into six sections:
Section 1: Regulatory Authority – Outlines the mission, structure, responsibilities and limitations of the Department of Banking and Insurance
Section 2: Definitions – Review the DFS definition of terms to comply with the mortgage lending laws in the state of New York.
Section 3: License Requirements – Discusses state requirements licensing mortgage originating lenders and supporting staff.
Section 4: License Renewal – An overview of what is required to maintain a NMLS license in the State of New York. Also a review of the options a licensee may take with their license.
Section 5: Superintendent Supervision – An overview of the general rules and powers of the Department of Financial Services Superintendent to enforce the New York Banking Laws.
Section 6: Disclosures and Forms – Describes compliance rules specific to disclosures and advertising. Also reviews New York Mortgage Recording Tax and Predatory Lending Laws for the state of New York.
The student will understand the New York regulations that govern his/her activities in the mortgage origination business in New York. The student will know the licensing and education requirements, and what is considered predatory lending violations. Know the expectations for mortgage originator licensing in New York, and the penalties for violations.