3 Hour PE Mortgage Education – New York

3 Hour PE Mortgage Education – New York

$87 $70      

This Course Includes: 

  • OIL – 3 Hour Online NY SAFE PE – New York State Law (1697)


This course covers New York Law relevant to Mortgage Loan Originators (MLOs) and is structured to reflect the outline of the New York State License Exam.  During this 3-hour pre-licensing course covering New York Mortgage law, we will cover several laws including: Articles 12-D and 12-E of New York Banking Law; Part 420 of the Superintendent’s Regulations, and Parts 38 and 41 of Banking Board regulations.  We also discuss current licensing regulation as well as the changes to be implemented prior to July 30, 2010.


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)


The course is divided into six sections:

Section 1: State Banking Department – Covers the Regulatory authority of the department, the department / agency structure and its responsibilities and limitations

Section 2: State Law and Regulation Definitions – Introduces you to basics of State Law & Regulation Definitions beginning with discussion of Mortgage loans, fees, and obligations addressed in Articles 12-D and 12-E of New York Banking Law; Part 420 of the Superintendent’s Regulations, and Parts 38 and 41 of Banking Board regulations.

Section 3: License Law and Regulations – Covers Persons required to be licensed, licensee qualifications & the application process, the grounds for denying a license and license maintenance.

Section 4: Compliance – Details prohibited conduct and practices, required conduct, fees and charges, disclosures and agreements and advertising

Section 5: Disciplinary Action – Discusses notifications, hearings and appeals, then suspension, revocation and rescission of licenses, then finally, penalties/fines and civil and criminal liability

Section 6: Unique New State Test Areas – In Section VI, we briefly discuss New York real property law relating to sections 265 and 265-b of Banking Law. Also, we have provided two examples of the New York State mandated “Pre-Application Disclosure and Fee Agreement”; the first for Mortgage Bankers and Exempt Organizations and the second specifically for use by the Mortgage Broker.

Learning Objectives

Upon successful completion of this course you will have a strong understanding of several of the laws and regulations specific to mortgage loan originators and lenders in the state of New York. You will also have a good background of information for taking the New York State Exam.