Late 1 Hour Mortgage Education – Colorado
This Course Includes:
- Late CE – 1 Hour Online CO SAFE CE – Colorado Law – Key Topics (6044) (6564) – E
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. We will provide you with references as to where to find more details on pertinent parts of the law.
The course is divided into four sections:
Section 1: Advertising – Covers the state-specific disclosure requirements, advertisement restrictions, interagency guidance on Nontraditional Mortgage Product Risks and differentiation between advertisement and marketing / promotional items.
Section 2: Reasonable Inquiry – Covers areas of reasonable inquiry such as duty of good faith and fair dealing, duty to recommend products based on information provided from the borrower and duty to make reasonable inquiry concerning borrower’s current income and debts.
Section 3: Tangible Net Benefit – Covers Tangible Net Benefit (TNB) to the borrower, considerations in determining TNB, consulting the borrower, and state’s TNB disclosure form.
Section 4: Dual Status Disclosure – Covers full and fair disclosure to the borrower, separation of business records, dual status requires disclosure and the state’s Dual Status Disclosure Form.
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 Colorado.