This Course Includes:
- 7 Hour Online SAFE CORE (1265) – O
- 1 Hour Online AZ SAFE CE – Arizona Mortgage Professional’s Rulebook (2174) – O
This course covers SAFE Continuing Education Requirements for AZ Loan Originators. Specifically, this online course includes Respa, Ethics, ARMs & IOS and 1 hour on AZ State Law. The course is divided into four sections:
1 Hour Online SAFE CE – Arizona state law
This course satisfies the state-specific continuing education requirement for Arizona Licensed Mortgage Loan Originators (MLOs). During this 1 hour course, we will provide an overview of the laws and regulations the Arizona Mortgage Professional must know and abide by.
Federal Law Requirement – RESPA and SAFE
1.) RESPA –Real Estate Settlement Procedures Act (enacted in 1974 implemented by Reg X). Establishes specific disclosure requirements in the real estate settlement process and prohibits specific practices such as kickbacks.
Our discussion includes key insights into the new GFE and discusses the differences between the new and old GFE.
2.) SAFE Act— Secure and Fair Enforcement Act for Mortgage Licensing (enacted in2008). This act is a key component of the Housing and Economic Recovery Act of 2008 (Title V). The SAFE Act sets forth requirements for the licensing and registration of all mortgage loan originators and mandates the creation of a National Mortgage Licensing System and Registry (NMLSR).
Ethics Requirement – Ethics, Fair Lending and Fraud
This part of our course provides an ethical foundation and summary for Fair Lending Laws, a summary of fraud schemes and preventative measures and,lastly, focuses on a couple of key topics in Fair Lending. Specifically, this course includes the following modules:
How Laws Enforce Ethics –this module covers the ethical and economic basis for laws and discusses the purpose of various fair lending laws in the mortgage industry.
More on HOEPA and Predatory Lending– this module details the topic of predatory lending, showing the various methods that have been used and the general prohibitions HOEPA outlines to protect consumers from these practices
More on Yield Spread Premiums – this module delves deeper into the hot topic of Yield Spread Premiums
Mortgage Fraud – this module covers the common mortgage schemes that have been practiced as well as some basic preventative measures
Nontraditional Mortgages Requirement – ARMs and IOs
This part of our course summarizes various types of adjustable rate and interest only non-traditional mortgages that have been introduced over the last 30 years. This course is taught in context of the 2007housing meltdown and includes the features, pros/cons and pitfalls of each type of loan.
Specific loans covered include:
- Adjustable rate mortgages (ARMs)
- Interest Only mortgages (IOs)
- Negative Amortization mortgages