This Course Includes:
- Late CE – 3 Hour Online NY SAFE CE – New York Law – Key Topics (2923) (6576) – E
This course covers several important topics for New York State Mortgage Loan Originators (MLOs). During this 3-hour continuing education course, we will cover several important topics laws including general rules for conduct and license maintenance as well as some New York specific disclosures and rules for certain loans.
The course is divided into six sections:
Section 1: State Mortgage Law Overview – Covers the Regulatory authority of the department, a quick summary of key laws and foundation law and regulation definitions
Section 2: License Continuance – Discusses the amended and/or revised requirements for licensing renewal in the state of New York. We include required qualifications, license maintenance standards and the license revocation and disciplinary action process.
Section 3: Prohibited and Required Conduct – A general overview of compliance requirements including prohibited and required processes, advertising rules and fees and charges.
Section 4: Disclosures and Agreements – Details four forms used in New York and points out the key parts of each. These forms are the Pre-Application Disclosure and Fee Agreement, the Prevailing Rate Commitment and the Lock-in agreement.
Section 5: Rules on Specific Loans – New York has detailed rules for certain loans and we discuss three of these rule categories: high cost loans, junior liens and alternative mortgage instruments
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.