8 Hours of 2025 New Mexico MLO Continuing Education

​​​​​​​To address the predatory lending practices, the New Mexico legislature passed the Home Loan Protection Act (HLPA). This legislature outlines the actions that creditors are prohibited from doing while working with a residential home loan that is protected by the act, and requires that loans have a reasonable, tangible benefit to the borrower.

This course will review the important provisions of the act. The first chapter of the course will review the act's definitions and purpose. The second chapter will identify specific acts and practices that creditors are not allowed to do while working with a HLPA-covered transaction. The third chapter sets out the limitations for high-cost home loans, and the fourth chapter defines the legal rights that borrowers have if in default on their loan as well as their legal rights that can be exercised against creditors who are in violation of the act.

Topics and Learning Objectives

This course is broken down into four modules and a case study. At the end of the course is a 15-question final exam. The topics included in this course are:

1. The Definitions and Purpose of the Act

2. Creditor Prohibited Practices

3. High-cost Home Loans

4. Default and Right to Cure

5. Case Study

6. Final exam

Total study time: 1 credit hour (50 minutes)

At the end of this course, you will be able to:

• Understand many terms that are defined by the act.
• Outline acts and practices that are prohibited.
• Describe how creditors can decrease their liability when dealing with high-cost loans.
• Identify a borrower's restrictions on making a HLPA-violation claims as well as their right to cure any default.
• Recognize the fines and penalties for violations of the act.

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 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 supervising entities.

Topics and Learning Objectives

This course consists of three sections and a final exam:

1. Top 10 Federal Topics for 2025

2. Prohibited Kickbacks Under RESPA Section 8

3. Non-traditional Mortgage Products

4. Final exam

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

Module 1: Top 10 Federal Topics for 2025

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

Licensed and registered mortgage lenders, brokers, and mortgage loan originators are required to maintain a consistent and current understanding of all regulatory requirements with which they are obligated to comply. This especially applies to individual mortgage loan originators who, in addition to their sponsoring company, will be held accountable for failures discovered through regulatory examinations and investigations involving residential mortgage loans that they originate.

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: Prohibited Kickbacks Under RESPA Section 8

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

The Real Estate Settlement Procedures Act (RESPA) was signed into law in 1974 and became effective in June 1975. One function of RESPA was to eliminate kickbacks and unearned fees initiated by those involved in loan settlement services. Before the passage of RESPA, parties associated with the buying and selling of real estate, including lenders, real estate agents, and title companies, often engaged in undisclosed kickbacks to each other, which inflated the costs of real estate transactions and often did not properly disclose all closing costs to consumers.

While RESPA contains various consumer protection regulations, in this ethics section we're going to concentrate on the regulation's prohibitions on kickbacks and referral fees.

Module 3: Non-traditional Mortgage Products

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

Besides traditional conventional loan products, there are other options available when it comes to rehabilitating a home for purchase or refinance that might be better for the needs of a borrower.

In this module, let's explore some unique mortgage products available to borrowers that may better fit their needs compared to a conventional mortgage loan These other options include the FHA 203(k) property rehabilitation loan, four types of energy efficient mortgage products, and the Fannie Mae HomeReady® rehab loan product.

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