Late CE 8 Hours of 2023 Georgia MLO Continuing Education

​​​​​​​This license reactivation course will instruct mortgage loan originators on a number of regulations that they will have to comply with while taking part in their mortgage loan origination activities. Rules, such as those implemented by the Dodd-Frank Wall Street Reform and Consumer Protection Act, are set in place to protect the interest and well-being of consumers who apply for mortgages to purchase or refinance their properties. To ensure that their business practices satisfy the regulations adopted by federal laws, mortgage loan originators need to keep current on the guidelines published by entities such as the Consumer Financial Protection Bureau (CFPB).

Licensees who do not complete their annual mortgage license training may be placed in a Reinstatement Period and are prohibited from practicing mortgage loan origination activities until their licenses are reactivated and their continuing education requirements have been completed. Licensees have until the end of February to bring their licenses up to date. A penalty Reinstatement Fee may apply when renewing your license. A license will expire if it is not renewed during the Reinstatement Period.

Not every state agency allows for reinstatement of a license. Check the Annual Renewal Information page on the NMLS website to verify if the agency you are licensed under allows for reinstatement, when the last date of reinstatement is, and what the applicable penalty fees may be.

• https://mortgage.nationwidelicensingsystem.org/slr/common/renewals/Pages/default.aspx

Topics and Learning Objectives

This course consists of three sections and a final exam

1. Top 10 Federal Topics for 2023

2. Ethical Treatment of Consumers

3. The VA Home Loan Program

4. Final exam

Total study time: 7 credit hours (5 hours, 30 minutes)

Module 1: Top 10 Federal Topics for 2023

Study Time: 3 clock hours (150 minutes of federal law)

Fair lending along with compliance to the law, established rules, and implemented regulations is everyone’s responsibility. When compliance failures occur, everyone, including the customer, loses.

The topics outlined in this module are mandated by the NMLS and state regulators, covering the more egregious regulatory compliance failures recently discovered through various regulatory examinations, investigations, and audits.

Module 2: Ethical Treatment of Consumers

Study Time: 2 clock hours (100 minutes of ethics, fraud, and consumer protection)

The ethical treatment of consumers and ethical practices in mortgage lending are a high focus of regulators and consumer advocacy groups. This module will cover ethics, including identity theft prevention, fraud prevention, and consumer protection requirements.

Module 3: The VA Home Loan Program

Study Time: 2 clock hours (100 minutes of non-traditional mortgage)

The objective of the Veterans Administration (VA) mortgage loan program is to provide long-term financing to eligible American military veterans and their surviving spouses, helping veterans purchase properties with no down payment. The program allows eligible veterans to buy, build, repair, retain, or adapt a home for personal occupancy as well as refinance an existing mortgage loan.

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.
• 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

​​​​​​​This course is approved for "Late CE" credit only.

The Georgia Department of Banking and Finance (DBF) requires mortgage licensees in this state to take a one-hour course on Georgia mortgage lending rules as part of the licensees' annual continuing education requirement for license renewal. This course covers three Georgia mortgage topics for licensee continuing education.

The first module of this course is an overview of the Department of Banking and Finance. Students will learn the values of the DBF and how the department is structured.

The second module of the course examines various rules outlined in Official Code of Georgia Annotated (OCGA) §7-1-1000 to §7-1-1019. These regulations cover mortgage licensing, prohibited conduct, and the authority of the DBF.

The third and last module identifies other mortgage lending laws defined in Georgia Rules and Regulations (R&R) § 80-11-1. We'll cover disclosures, advertisement regulations, and main/branch offices.

Licensees who do not complete their annual mortgage license training may be placed in a Reinstatement Period and are prohibited from practicing mortgage loan origination activities until their licenses are reactivated and their continuing education requirements have been completed. Licensees have until the end of February to bring their licenses up to date. A penalty Reinstatement Fee may apply when renewing your license. A license will expire if it is not renewed during the Reinstatement Period.

Not every state agency allows for reinstatement of a license. Check the Annual Renewal Information page on the NMLS website to verify if the agency you are licensed under allows for reinstatement, when the last date of reinstatement is, and what the applicable penalty fees may be.

• https://mortgage.nationwidelicensingsystem.org/slr/common/renewals/Pages/default.aspx

Topics and Learning Objectives

This course is broken down into several learning topics. At the end of the course a 15-question final exam will be given. The topics included in this course are:

1. Module 1: The Georgia Department of Banking and Finance
2. Module 2: Mortgage Laws and Rules
3. Module 3: Miscellaneous Georgia Rules and Regulations
4. Final exam

Total study time: 1 credit hour (50 minutes)

This course will prepare Georgia-licensed MLOs to:

• Describe the core values of the Department of Banking and Finance (DBF)

• Identify the entities that are regulated by the DBF

• Paraphrase definitions as outlined by OCGA §7-1-1000

• Describe the entities and individuals who are exempt from mortgage licensing

• Outline the information and disclosures required on a license application

• Recognize the surety bond and record keeping requirements for brokers and lenders

• Identify prohibited actions defined in Title 7 Chapter 1

• Define the DBF's powers to suspend or revoke a mortgage license

• Define the compliance requirements when delivering loan disclosure documents

• Outline the guidelines for advertising loan terms to Georgia consumers

• Review the DBF requirements for main offices and branch offices

• Identify the role of a branch manager in the office

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.
• 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.