-
8 Hour MA SAFE Comprehensive Mortgage Loan Originator Course 2016
Course Syllabus
Welcome to our Massachusetts SAFE Comprehensive Mortgage Loan Originator Course for
2016. We are excited to assist you in furthering your mortgage career and are pleased you
chose Praedo Institute to satisfy your education requirements.
Course Purpose
This course is meant to satisfy the 2016 NMLS eight hour mortgage loan originator continuing
education requirement for the state of Massachusetts.
Course Description
Our comprehensive course meets the NMLS Comprehensive CE requirement for Massachusetts
by covering the following topics: three hours of Federal Law, two hours of Ethics and Loan
Fraud, two hours of Nontraditional Lending, and one hour of Massachusetts Mortgage Law.
Course Dates and Times
This course is offered for the 2016 license renewal period. In order to ensure proper reporting
to NMLS before all mortgage loan originator licenses expire on December 31, 2016, this course
must be completed by December 21, 2016.
Course Objectives
Upon completing this course, you should be able to do the following:
Explain why fair lending is an important compliance issue for mortgage companies;
Understand the federal laws related to fair lending;
Apply lessons learned in fair lending cases to your mortgage practice;
Analyze situations and properly evaluate them in the context of fair lending compliance;
Understand the definition of an MSA;
Apply the CFPB's stance on MSAs to real life situations;
Identify a non-compliant MSA according to RESPA And CFPB guidance;
Understand what constitutes loan fraud;
Explain the anti-money laundering and Suspicious Activity Report requirements;
Recognize when a mortgage lender or broker would be required to file a Suspicious Activity Report;
-
Better understand the VA Home Loan Benefit;
Understand the differences in loan authority granted to lenders;
Learn to identify eligible veterans;
Learn the general process options for obtaining a Certificate of Eligibility;
Review unique VA policies and guidelines;
Understand the scope and applicability of Massachusetts mortgage laws;
Comply with the requirements for licensees under the applicable laws and rules; and
Protect the public by following the requirements set forth in the laws and rules. Grading Policy
The course consists of slides mixed with comprehension questions. Each chapter includes a
chapter quiz. At the end of the final part, you will be required to take and pass a final exam.
This course is timed as an eight hour course. You must complete the parts, in order, to progress
through the course. You must answer all of the comprehension questions correctly and score
80 percent on all quizzes and tests to receive credit for the course. You may retake course quiz
questions until you pass, but you are allowed only 10 retakes of the course final.
Course Policies
Each student is required to submit an Identity Affidavit. By confirming the attestation, the
student certifies that the course work was or will be completed by the person for whom the
certificate will be issued. The student further certifies that they did not or will not receive any
assistance in completing the course. The submission of a completion certificate for a course
they did not complete themselves may constitute fraud on the students part and is subject to
prosecution and/or discipline.
Technical Support
As our course is entirely online, we do offer live technical support via telephone, email, and
chat from 8:30am to 5:00pm Mountain Time on regular business days. After hours, holiday,
and weekend support is available 365 days a year via email from 9:00am to 10:00pm Mountain
Time. Our mailing address is 42 North, 200 East, Ste. 3, American Fork, UT 84003. Our
telephone number is 801-492-9933 and our support email is [email protected].
Using our System
Once you purchase the course and are logged into our system, you should see a link to the
course on your home page. This link will launch the course. Please carefully review the
introduction module for instructions on using our online system.
-
Course Outline
This course consists of four parts, covering the following subjects: Federal Law, Loan Fraud,
Nontraditional Mortgage, and Massachusetts Mortgage Law.
MA Comprehensive SAFE CE 2016 Part 1: Federal Law
Introduction: This module will introduce you to our system. Adherence to the advice and
instructions offered in this module will greatly improve your online education experience.
Fair Lending Chapter 1: Chapter One reviews fair lending. It consists of the following sections:
Department of Justice
Consumer Financial Protection Bureau
Fair Housing Act
Equal Credit Opportunity Act
When You Apply for Credit
When Deciding to Grant Credit
You Also Have the Right to
If a Creditor has Discriminated Against you
Types of Discrimination
Overt Discrimination
Disparate Treatment
Disparate Impact
Fair Lending Chapter 2: Chapter Two reviews the Home Mortgage Disclosure Act. It consists of
the following sections:
Home Mortgage Disclosure Act
HMDA Case Study
HMDA Data
Tips for Compliance
Case Study #1
Case Study #2
Case Study #3
Recent Cases
RESPA Enforcement Chapter 1: Chapter One reviews cases involving Wells Fargo/Chase and
Lighthouse Title. It consists of the following sections:
Introduction
Wells Fargo/Chase CFPB Settlement
-
Lighthouse Title CFPB Settlement
RESPA Enforcement Chapter 2: Chapter 2 reviews the CFPB Compliance Bulletin and several
hypothetical examples that apply. It consists of the following sections:
CFPB Compliance Bulletin
Case Study
MA Comprehensive SAFE CE 2016 Part 2: Ethics and Loan Fraud
Loan Fraud 2016 Chapter 1: Chapter One will introduce you to the definition of loan fraud and
different types of loan fraud. It consists of the following sections:
Introduction
Fraud for Housing
Fraud for Profit
Air Loan
Appraisal/Valuation
Assets
Employment
Identity Theft
Income
Non-Arms Length Transaction
Occupancy Fraud
Settlement Agent
Short Sale
Shot-Gunning
Straw Borrower
Undisclosed Debt
Affinity Fraud
Builder Bail-Out
Foreclosure Rescue
Loan Modification Scams
Reverse Mortgage Fraud
Case Study
Loan Fraud 2016 Chapter 2: Chapter Two will review loan fraud statistics and SARS reporting.
It consists of the following sections:
Loan Fraud Statistics
Types of Fraud
Mortgage Fraud Case Studies
-
SARs Reporting
Anti-Money Laundering Rule
SARs Rule Reporting Requirements
MA Comprehensive SAFE CE 2016 Part 3: Nontraditional Lending
VA Home Loans: This part covers the origination of mortgage loans that are to be guaranteed
by the Veterans Administration (VA) on 1-4 unit Single Family Residences. It consists of the
following sections:
What is a VA Home Loan?
VA Loan Features
Eligible Loan Purposes
Property Eligibility
Occupancy Requirements
Who has Jurisdiction over the Lender?
Types of Approval Authority Granted to Lenders
Basic Entitlement and the Amount of Loan Guaranty
Who is Eligible for a VA Home Loan
How to Document Eligibility and Entitlement
VA Lender Resources
What is Restoration of Entitlement?
Clearing Loans Listed as Unpaid on the COE
Back-to-Back Closings
VA Guaranty Calculation
Joint Loans
Case Study
Maximum Loan-To-Value
Maximum Loan Amount
Funding Fee
Appraisals
Minimum Property Requirements
Refinances
Energy Efficient Mortgage
Credit
Income
Reservists, National Guard & Active Duty Applicants
Helpful Hints for Reviewing the Military LES
-
VA Education Benefits
Rental Income for 2-4 Unit Properties
Debt to Income Ratio (DTI)
Residual Income
Special Instructions for using Tables
Residual Income Calculation
Power of Attorney (POA)
Alive and Well Status
VA Loan Fees
Seller Concessions
Purchase Agreement Escape Clause
Case Study
MA Comprehensive SAFE CE 2016 Part 4:
Massachusetts Mortgage Law Update 2016
MA Mortgage Law Update 2016 consists of the following sections:
Licensing Requirements
Prohibited Acts and Practices
Disciplinary Proceedings
License Misrepresentation
Customer Files
License Number
Exclusive Boss
Working with Unlicensed Agents
Fraud
Best Efforts
Advertising
False Statements and Omissions
Fees
Property Insurance
Funds
Agreements with the Commissioner
Prohibitions
The Challenge Process
Case Study
-
MA Comprehensive SAFE CE 2016 Course Final: 25 question final exam covering all of the
material discussed in the course.
Course Evaluation: Students will be allowed to give feedback regarding the course.
Course Schedule
This course consists of the four parts outlined below. The requirements for each part are listed
with the approximate time needed to complete each learning module. This course meets the
minimum time requirement of 50 seat minutes for each clock hour the course is approved.
This course is approved as an eight hour course and must be completed in its entirety in order
for you to receive credit.
Good Luck
Once again, thank you for choosing Praedo Institute. Your success is extremely important to us.
Please let us know if we can be of assistance at any time. Enjoy the course!
-
Course Outline and Schedule
Module Reading Assignments Due Instruction Time
Allocation (Minutes)
MA Comprehensive SAFE CE 2016 Part 1: Federal Law
Introduction Instructions ROC & Attestation 10
Fair Lending Chapter 1
Department of Justice Quiz Question 7
Fair Lending Chapter 1
Consumer Financial Protection Bureau
Quiz Question 2
Fair Lending Chapter 1
Fair Housing Act Quiz Questions 9
Fair Lending Chapter 1
Equal Credit Opportunity Act
Quiz Question 2
Fair Lending Chapter 1
When You Apply for Credit
Quiz Question 2
Fair Lending Chapter 1
When Deciding to Grant Credit
Quiz Question 4
Fair Lending Chapter 1
You Also Have the Right to
Quiz Question 2
Fair Lending Chapter 1
If a Creditor has Discriminated Against
you Quiz Question 2
Fair Lending Chapter 1
Types of Discrimination
Quiz Question 1
Fair Lending Chapter 1
Overt Discrimination Quiz Question 2
Fair Lending Chapter 1
Disparate Treatment Quiz Questions 6
Fair Lending Chapter 1
Disparate Impact Quiz Questions 6
Fair Lending Chapter 2
Home Mortgage Disclosure Act
Quiz Question 4
Fair Lending Chapter 2
HMDA Case Study Quiz Question 3
Fair Lending Chapter 2
HMDA Data Quiz Question 1
Fair Lending Chapter 2
Tips for Compliance Quiz Question 3
Fair Lending Chapter 2
Case Study #1 Quiz Questions 9
-
Fair Lending Chapter 2
Case Study #2 Quiz Questions 9
Fair Lending Chapter 2
Case Study #3 Quiz Questions 8
Fair Lending Chapter 2
Recent Cases Quiz Questions 24
RESPA Enforcement Chapter 1
Introduction Quiz Question 3
RESPA Enforcement Chapter 1
Wells Fargo/Chase CFPB Settlement
Quiz Questions 25
RESPA Enforcement Chapter 1
Lighthouse Title CFPB Settlement
Quiz Questions 17
RESPA Enforcement Chapter 2
CFPB Compliance Bulletin
Quiz Questions 9
RESPA Enforcement Chapter 2
Case Study Quiz Question 32
MA Comprehensive SAFE CE 2016 Part 2: Ethics and Loan Fraud
Loan Fraud Chapter 1 Introduction Quiz Question 6
Loan Fraud Chapter 1 Types of Fraud Quiz Questions 27
Loan Fraud Chapter 1 Case Study Quiz Questions 11
Loan Fraud Chapter 2 Loan Fraud Statistics Quiz Question 4
Loan Fraud Chapter 2 Types of Fraud Quiz Question 4
Loan Fraud Chapter 2 Mortgage Fraud Case
Studies Quiz Question 7
Loan Fraud Chapter 2 SARs Reporting Quiz Questions 12
Loan Fraud Chapter 2 Anti-Money
Laundering Rule Quiz Questions 6
Loan Fraud Chapter 2 SARs Rule Reporting
Requirements Quiz Questions 17
-
MA Comprehensive SAFE CE 2016 Part 3: Nontraditional Lending
VA Home Loans What is a VA Home
Loan? Quiz Question 4
VA Home Loans VA Loan Features Quiz Question 1
VA Home Loans Eligible Loan Purposes Quiz Question 1
VA Home Loans Property Eligibility Quiz Question 2
VA Home Loans Occupancy
Requirements Quiz Question 1
VA Home Loans Who has Jurisdiction
over the Lender? Quiz Question 1
VA Home Loans Types of Approval
Authority Granted to Lenders
Quiz Question 1
VA Home Loans Basic Entitlement and the Amount of Loan
Guaranty Quiz Question 2
VA Home Loans Who is Eligible for a
VA Home Loan? Quiz Question 4
VA Home Loans How to Document
Eligibility and Entitlement
Quiz Question 2
VA Home Loans VA Lender Resources Quiz Question 5
VA Home Loans What is Restoration
of Entitlement? Quiz Question 2
VA Home Loans Clearing Loans Listed as Unpaid on the COE
Quiz Question 1
VA Home Loans Back-to-Back Closings Quiz Question 1
VA Home Loans VA Guaranty Calculation
Quiz Question 6
VA Home Loans Joint Loans Quiz Question 1
VA Home Loans Case Study Quiz Questions 5
VA Home Loans Maximum Loan-To-
Value Quiz Question 1
VA Home Loans Maximum Loan
Amount Quiz Question 1
VA Home Loans Funding Fee Quiz Question 1
VA Home Loans Appraisals Quiz Question 1
-
VA Home Loans Minimum Property
Requirements Quiz Question 5
VA Home Loans Refinances Quiz Question 1
VA Home Loans Energy Efficient
Mortgage Quiz Question 2
VA Home Loans Credit Quiz Question 2
VA Home Loans Income Quiz Question
VA Home Loans Reservists, National Guard & Active Duty
Applicants Quiz Question 2
VA Home Loans Helpful Hints for
Reviewing the Military LES
Quiz Question 1
VA Home Loans VA Education Benefits Quiz Question 1
VA Home Loans Rental Income for 2-4
Unit Properties Quiz Question 1
VA Home Loans Debt to Income Ratio
(DTI) Quiz Question 1
VA Home Loans Residual Income Quiz Question 2
VA Home Loans Special Instructions for
using Tables Quiz Question 2
VA Home Loans Residual Income
Calculation Quiz Question 1
VA Home Loans Power of Attorney
(POA) Quiz Question 1
VA Home Loans Alive and Well Status Quiz Question 1
VA Home Loans VA Loan Fees Quiz Question 3
VA Home Loans Seller Concessions Quiz Question 1
VA Home Loans Purchase Agreement
Escape Clause Quiz Question 1
VA Home Loans Case Study Quiz Questions 5
-
MA Comprehensive SAFE CE 2016 Part 4: Massachusetts Mortgage Law Update 2016
MA Mortgage Law Update 2016
Licensing Requirements
Quiz Question 3
MA Mortgage Law Update 2016
Prohibited Acts and Practices
Quiz Question 2
MA Mortgage Law Update 2016
Disciplinary Proceedings
Quiz Questions 2
MA Mortgage Law Update 2016
License Misrepresentation
Quiz Questions 2
MA Mortgage Law Update 2016
Customer Files Quiz Question 2
MA Mortgage Law Update 2016
License Number Quiz Question 2
MA Mortgage Law Update 2016
Exclusive Boss Quiz Question 2
MA Mortgage Law Update 2016
Working with Unlicensed Agents
Quiz Question 2
MA Mortgage Law Update 2016
Fraud Quiz Question 3
MA Mortgage Law Update 2016
Best Efforts Quiz Question 2
MA Mortgage Law Update 2016
Advertising Quiz Question 3
MA Mortgage Law Update 2016
False Statements and Omissions
Quiz Questions 3
MA Mortgage Law Update 2016
Fees Quiz Questions 2
MA Mortgage Law Update 2016
Property Insurance Quiz Questions 2
MA Mortgage Law Update 2016
Funds Quiz Question 2
MA Mortgage Law Update 2016
Agreements with the Commissioner
Quiz Question 3
MA Mortgage Law Update 2016
Prohibitions Quiz Question 2
MA Mortgage Law Update 2016
The Challenge Process Quiz Question 3
MA Mortgage Law Update 2016
Case Study Quiz Question 4
-
Course Final N/A Comprehensive Final
Exam 20
Course Evaluation N/A Evaluation 5