This Course Includes:
- 7 Hour Online SAFE CORE (1265) – O
- 1 Hour Online CO SAFE CE – Colorado Mortgage Professional’s Rulebook (6754) – O
This course covers SAFE CORE Continuing Education Requirements of 8 hours includes the required CORE of 3 Hours on Federal Law and Regulations, 2 Hours on Ethics and 2 Hours on Nontraditional Mortgages & 1 hour on Colorado State Law. The course is divided into four sections:
1 Hour Online SAFE CE – Colorado Law
This course covers Colorado relevant to Mortgage Loan Originators (MLOs). The course is designed to help you understand the specifics of Colorado law and assist you in preparing for the licensing exam.
Ethics, Fair Lending and Fraud – Moving Forward
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