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8 Hour SAFE Comprehensive: 2019 Originator Essentials (For California Real Estate Licensees)

This California Real Estate Originator License Course provides credit for NMLS MLO license renewal & real estate license renewal through DRE. Get started today!

$36.00

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Online Course
Includes Video
Printable Certificate
PDF & EPUB eBook
Read-Along Audio MP3
(optional)
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At A Glance:

Price: $36.00 (USD)
+ $12.00 NMLS Credit Banking Fee
Purpose: Provides both DRE (real estate) and NMLS (mortgage) license renewal credits
Features: online text, online video, printable certificate, PDF eBook
Hours: 8 Hours
Category: Mortgage > Continuing Education > California > Consumer Protection
Sponsor /
Delivery:
OnlineEd
7405 SW Beveland Rd,
Portland, OR 97223
(503) 670-9278
mail@onlineed.com

Terms of Service:

Provides both DRE (real estate) and NMLS (mortgage) license renewal credits

DRE Sponsor Number: 4056

NMLS Course ID: 10668

NMLS Sponsor ID: 1400327

View Course Syllabus

This California Real Estate Originator License Course provides 8 hours of credit for both:

  • Mortgage loan originator license renewal through the NMLS, and
  • Real estate license renewal through the California Department of Real Estate (DRE).

This course does NOT provide the 1-hour elective required of persons licensed through the California Department of Business Oversight (DBO), however this is available as a separate package for those that need it.

This California Real Estate Originator License Course is approved by the NMLS and by the California DRE.

Please read the included syllabus / general information page for full details before making your purchase.

Course Description

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 entities such as the Consumer Financial Protection Bureau (CFPB).

Topics and Learning Objectives

This course consists of four sections:

  1. Federal Mortgage Related Laws
  2. Ethical Treatment of Consumers
  3. The VA Home Loan Program
  4. Complying with Appraisal Independence Requirements

Total study time: 8 hours

Module 1: Federal Mortgage Related Laws

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

  • TILA-RESPA Integrated Mortgage Disclosures Rule (TRID) (50 minutes)
  • Other TILA Requirements for Mortgage Loans (40 minutes)
  • RESPA Section 8 Summary (20 minutes)
  • The Equal Credit Opportunity Act (ECOA) (40 minutes)

In the first module of this course we'll review the TILA-RESPA Integrated Disclosure (TRID), covering the loan disclosure requirements of the Truth in Lending Act (TILA, 12 CFR 1026) and the Real Estate Settlement Procedures Act (RESPA, 12 CFR 1024). We'll review the types of loans the regulations are applicable to, the rate tolerances and permitted fees allowed by the rules, and changes that can be made to the Loan Estimate and Closing Disclosure. We'll also review Marketing Service Arrangements (MSAs) and the Equal Credit Opportunity Act (ECOA, 12 CFR 1002).

Module 1 Objectives

When you have completed this module, you will be able to:

  • review the permissible fees and finance charges permitted under the Truth In Lending Act (TILA), codified as Regulation Z, and the Real Estate Procedures Act (RESPA), codified as Regulation X.
  • explain actions that must be taken when when finance charges on the initial Loan Estimate are overstated or understated.
  • outline the types of loans that are applicable to complying with the Integrated Disclosure Rules.
  • list additional Regulation Z regulations regarding open-ended and closed-ended credit.
  • recognize the risks associated with Marketing Services Agreements (MSAs) and potential RESPA violations.
  • examine the Equal Credit Opportunity Act, codified as Regulation B, and its rules relating to requesting information, evaluating applications, and extending credit.

Module 2: Ethical Treatment of Consumers

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

  • Identity Theft Rules (30 minutes)
  • Telemarketing Sales Rules (30 minutes)
  • BSA/AML Suspicious Activity Report Filing Requirements (15 minutes)

The second module is written with a focus on consumer protection. We'll outline the Identity Theft Rules, 16 CFR 681, and the requirements covered entities have with protecting their customer's accounts. Then we'll examine the Telemarketing Sales Rules, 16 CFR 310, outlining deceptive and abusive practices when soliciting for business by cold-calling consumers. Finally, we'll summarize the BSA/AML Suspicious Activity Report filing requirements.

Module 2 Objectives

When you have completed this module, you will be able to:

  • describe the FTC's Identity Theft Rules, which entities are required to comply with the rules, and the requirements for covered entities to establish an identity theft prevention program.
  • summarize the prohibited deceptive and abusive acts as outlined in the Telemarketing Sales Rules.
  • describe the information that should be included on a preliminary suspicious activity report.
  • recognize the penalties for failing to comply with Suspicious Activity Report filing requirements.

Module 3: The VA Home Loan Program

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

The third module covers unique mortgage product solutions for unique customers. This year we will examine the Department of Veteran Affairs VA home loan guaranty program, covering topics such as eligibility, occupancy requirements, refinances, underwriting, and how the guaranty benefits lenders.

Module 3 Objectives

When you have completed this module, you will be able to:

  • Outline people, property and purposes that are eligible for VA loans.
  • Describe the various aspects of VA loans, including entitlement, guaranty, IRRRLs, and funding fees.
  • Explain what a lender must consider when underwriting a VA loan.

Module 4: Complying with Appraiser Independence Requirements

Study Time: 1 clock hour (50 minutes of elective topics)

The fourth and last module illustrates the importance of appraiser independence requirements. We will review these requirements as outlined by various federal regulations, agencies and published guidance.

Module 4 Objectives

When you have completed this module, you will be able to:

  • Recognize the difference between an appraisal, a home inspection, and Broker Price Opinion (BPO).
  • Recall various definitions used in relation to property appraisals.
  • Outline the various prohibited actions that might be interpreted as adversely influencing an appraiser's conclusion of value.
  • Review the various actions that are not prohibited.
  • Explain the exceptions that would allow a follow-up appraisal to be conducted.

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

Method of Course Presentation

  • Presentation: Correspondence/Internet
  • Course Category: Consumer Protection
  • Credit Hours: 8

Course Fees

Course fees consist of the initial enrollment fee and a NMLS credit banking fee of $2.50 per credit hour.

Course Materials

  • Title: 8 Hour SAFE Comprehensive: 2019 Originator Essentials
  • Authors: Sorg & Spaan, LLC
  • Copyright date: 2005-2019
  • Pages: 176

Access

Course must be completed within one year of enrollment.

Refund Policy

All tuition and fees paid for the course are refundable when: (a) the course of instruction is discontinued by OnlineEd and such discontinuation has prevented a student from completing the course; or (b) the enrollment of the student was procured as a result of any misrepresentation in promotion materials of the school, or representation made by an owner or employee of the school. All refunds will be completed within 30 days after the effective date of enrollment termination. Refunds will not be given to any student after the student has successfully registered in a course or courses, as once registered, student has access to the registered courses. In hardship cases, OnlineEd may issue a refund at its sole discretion. OnlineEd does not issue retroactive partial refunds for courses that are subsequently discounted or put on sale after a student makes a purchase.

Final Examination Criteria

  • Number of questions: 25
  • Types of questions: multiple choice
  • Time: 25 minutes
  • How many final exams are offered: Two
  • Minimum passing score: 70%

DRE Disclaimer

This course is approved for continuing education credit by the California Department of Real Estate. However, this approval does not constitute an endorsement of the views or opinions that are expressed by the course sponsor, instructor, authors or lecturers.

Correspondence Course Identification Statement

In order to verify your identity, you will be asked to provide at the time of enrollment and again prior to taking the final examination certain information to verify your identity. Among the types of identification that may be asked for are your current California driver's license, current identification permitted under the California Vehicle Code, or any identification issued to you by a governmental agency or a recognized real estate related trade organization that was issued within the immediately preceding five years that bears your photograph, signature, and identification number. In addition, you will also be asked to provide answers to additional security questions, the answers to which are unique to you.

Online Evaluation Statement

After completing this course you are encouraged to complete the California Department of Real Estate's online course evaluation form. You can access this evaluation at http://www.dre.ca.gov/files/pdf/forms/re318a.pdf.

Course Provider Complaint Statement

A course provider complaint form is available on the California Department of Real Estate (DRE) website at www.dre.ca.gov. Access this form by typing in "RE 340" in the search box located in the upper right corner of the home page. An informational form regarding course provider complaints, "RE 340A" is also available.

OnlineEd Disclaimer

The California Department of Real Estate does not approve nor endorse any of the forms used in this course with the exception of those prescribed by State and Federal Law. While this publication is designed to be accurate information about the subject matter it covers, it is sold with the understanding that the distributor, author, and publisher are not engaged in rendering legal, accounting, or other professional advice. If such advice or other expert assistance is required, the services of a competent professional should be sought. The recipient is cautioned to check with their managing supervisor before acting on any suggestion or recommendation, or before using any sample form contained herein.

Our Mission Statement

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