4 Hour CE Responsible Individual Mortgage Education – Arizona

4 Hour CE Mortgage Education Responsible Individual (with Arizona State Law)

$79 $63      

This Course Includes:

  • AZRI100 – Arizona Responsible Individual 4 Hour CE – O


This course is specifically designed for Arizona mortgage professionals who already took the 8 Hours of NMLS education which included Arizona State Law and need 4 more hours of education to satisfy their Responsible Individual requirement. Please see below for the AZDFI Responsible Individual requirement description and a summary of this course.


AZDFI Responsible Individual Continuing Education Requirement
As part of the mortgage banker and mortgage broker renewal process, the responsible individual (RI) must complete :

  • 12 units (1 unit = 50 minutes) of continuing education prior to 12/31 of each calendar year. A copy of the certificate(s) must be sent to AzDFI with the renewal checklist (which will be available on NMLS in September).
  • The certificate must show each course and units taken. The education shall include courses in the following areas:
    1.)  Arizona mortgage related law (i.e. title, appraisal, real estate, etc… as it relates to the mortgage industry)
    2.)  Federal mortgage law
    3.)  Mortgage related ethics
    4.)  Non-traditional mortgage products
    5.)  Other mortgage related courses that contribute to the maintenance and improvement of professional competence

The same courses cannot be taken in two consecutive years.

Nontraditional Mortgages – Fixed Rate – Summarizes a broad selection of nontraditional primarily fixed rate mortgages that have been introduced over the last 30 years. The mortgage types we will talk about include Buydowns, Construction permanent mortgages, Balloons, HELOCs and Reverse Mortgages.

Chapter 1. Introduction to non-traditional variants of fixed rate mortgages
Chapter 2. Buydown mortgage
Chapter 3. Balloon mortgage
Chapter 4. Second Liens and HELOCs
Chapter 5. Construction Loans
Chapter 6. Reverse Mortgages
Chapter 7. Payment Alternatives


Nontraditional Mortgages – FHA Maximum Loan Amount – Discusses calculating the Maximum Loan Amount FHA is willing to insure for a mortgage borrower in the purchase and refinance of their homes.

Topics include:
1.)  Basic Equation. We discuss the equation used for FHA maximum loan amount calculations and how it is related to Mortgage Insurance Premiums.
2.)  LTV Limit. We will talk about factors that affect LTV Limit, which includes Borrower’s Minimum Cash Investment Requirements, Interested Third Party Contribution and Inducement to Purchase.
3.)  Statutory Loan Limit. We will explain how to look up the Statutory Loan Limits for different FHA mortgage types and locations. We will explain how to appeal to HUD to change the Statutory Loan Limit for a specific county. This might be necessary when the housing prices of a certain area increase significantly.
4.)  LTV Limits for Specific Situations. We will then look at additional exceptions such as transactions between family members, construction loans and mortgage assumptions that can affect both LTV and Statutory Loan Limit.
5.)  Effects of Repair and Improvements on Maximum Mortgage Amount. We will look at how certain Repairs and Home Improvements can affect both LTV and Statutory Loan Limit.