This course is designed to prepare candidates to take the exam to become a state-licensed mortgage loan originator in Connecticut under the Connecticut Department of Banking. This 1-hour course covers Connecticut-specific rules and regulations as mandated by the Department, and is required as part of the 21 hours of prelicensure education needed to become a Connecticut-licensed mortgage loan originator.

Topics and Learning Objectives

This course consists of five parts and a final exam:

• Module 1: The Connecticut Abusive Home Loan Lending Practices Act (12 minutes)
• Module 2: Other Mortgage and Loan Practices (11 minutes)
• Module 3: General Mortgage Statutes (11 minutes)
• Case Study (6 minutes)
• Final Exam (10 minutes)

Total study time: 1 credit hour (50 minutes)

Module 1: The Connecticut Abusive Home Loan Lending Practices Act

The Connecticut Abusive Home Loan Lending Practices Act (CAHLLPA) is Connecticut law that is designed to protect the borrower/consumer of a high-cost loan from the actions of a haphazard or ill-intending mortgage loan officer. The CAHLLPA does not address reverse mortgages. In this module, we'll explain the Connecticut restrictions on lending a high-cost home loan to high-risk consumers.

Module 2: Other Mortgage and Loan Practices

To maintain consistency while minimizing contradictions and redundancy, many state statutes were intentionally enacted to mirror federal regulations. This module will explain various actions of a licensee that would be considered illegal, and the restrictions on working with nonprime home loans.

Module 3: General Mortgage Statutes

Those who want to practice residential mortgage lending in our state are required to first obtain authorization from the Department of Banking. In this module, we will outline the steps a license candidate need to take to receive a Connecticut mortgage loan originator license.

NMLS ID Required

You must have an NMLS ID to receive credit for this course. You will need this number before you begin the course.

If you already have an NMLS ID, but don't remember what it is:

• Login into NMLS,
• Click on the Composite View tab, then
• Click View Individual on the sub-header row.
• The number that appears in parentheses after your name is your NMLS ID number.

If you do not have an NMLS ID and need to obtain one, use the instructions available in the NMLS Resource Center