NOTE: 2017 Course Approved! Dates to be posted soon!
"The Originator" MLO20
Mortgage loan originators in Massachusetts need to complete 20 hours of pre-licensing education, as well as 3 hours of MA content, as required by the Commonwealth. They also must pass a written exam in order to obtain their license.
This NMLS-approved course satisfies the requirements set forth by the Secure and Fair Enforcement Mortgage Licensing Act for a comprehensive 20-hour pre-licensing course and a state required (Massachusetts) 3-hour pre-licensing course for mortgage loan originators.
Price and Materials:
$549.99 includes 23-hours of live lecture, textbook, and exam prep materials.
What topics will be covered in this class?
This course covers topics required by the SAFE Act: Federal lending legislation (3 hrs), ethics (3 hrs), and nontraditional mortgage products (2 hrs). Also included are 12 hours of electives on key concepts, including financial disclosure, privacy protection, consumer I.D., and predatory lending protection laws; government loan programs; the SAFE Act; financial calculations; conventional loans and financing; loan processes, products, and finance instruments; and the Uniform State Test.
The MA-specific portion of this course will cover Unfair, Deceptive Acts and Practices (UDAP 940 CMR 8) in the Commonwealth of Massachusetts and beyond. An in-depth primer for the MLO originating loans in MA that will cover how these laws can affect any transaction in this state and discuss the remedies to consumers who are victims of UDAP violations. A brief overview of the federal (UDAP/UDAAP) laws will also be covered.