syllabus safe 20 hour nj comprehensive
TRANSCRIPT
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20 Hour Mortgage Loan Originator NJ SAFE Comprehensive Course
Course Syllabus -- 7 Day
(14 Day Schedule included at the bottom of this document)
Welcome to our New Jersey SAFE Comprehensive Course. We are excited to assist you in
furthering or beginning your mortgage career and are pleased you chose Praedo Institute to
satisfy your education requirements.
Course Purpose
This course is meant to satisfy the 20 hour SAFE education requirement for mortgage originator
licensure for the state of New Jersey. This course will also prepare you for the National
Component of the SAFE Mortgage Loan Originator Exam as well as the UST component of the
SAFE exam.
Course Description
Along with the 16 hours of SAFE required education, this course includes 4 hours of NJ Law as
well as information related to loan qualification and the loan process. This course satisfies the
NJ SAFE requirement. Included in this course are: discussion forums, interactive content,
practice questions, and live instructor support.
Course Dates and Times
This course begins on Tuesdays at 8:00am Mountain Time and must be completed by midnighton the session end date.
Instructor Contact Information
Once you register for the course, you will receive an email from the instructor assigned to your
course. The email will introduce your instructor as well as explain contact methods and
expected response times. All of our instructors are required to respond to student questions
within one business day of the receipt of your question. Your instructors personal email will be
included in the introduction email.
Course Objectives
Each of the individual modules in this course include learning objectives applicable to the
individual module itself. Our course is meant to give you an introduction to the mortgage
industry. Upon completing this course, you should be able to do the following:
Define basic mortgage terms; Perform mathematical calculations common to the mortgage industry;
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Explain certain mortgage concepts to potential borrowers; Comply with applicable federal laws related to the mortgage industry. Explain the role of the Department of Banking and Insurance Outline the requirements to obtain a license in New Jersey Explain the duties and obligations imposed upon a licensee You should also be able to pass the National Component of the SAFE Mortgage Loan
Originator Exam as well as the UST component of the SAFE exam.
Grading Policy
Most of the sections in this course consist of slides mixed with comprehension questions. Each
chapter includes a chapter quiz, and most sections include a course final. You may view the
slides at your own pace, but you must answer all of the comprehension questions correctly and
score 80 percent on all quizzes to receive credit for the course. You must also pass the course
final exam with a score of 80 percent in order to receive credit for the course. You can retakecourse quizzes an unlimited number of times, but you have only 10 retakes on the course final.
Please remember, your course does include a completion deadline.
Several of the modules also include case studies, which involve the completion of a certain
project. The details for the individual case studies are found in the course.
Our course also includes 8-10 learning activities. In each of the learning activities, you will be
required to either post comments on our discussion forum or email an assignment to your
instructor for grading. Instructions for the learning activities are included in the course.
Your course consists of four parts. At the end of each part, you will be required to submit an
assignment to your instructor. Your instructor will grade your assignment within one business
day of assignment submission. Once your instructor grades the assignment, your instructor will
allow you access to the next part of your course. The instructor reserves the right to delay your
advancement to the next part in the event you are progressing substantially faster than the
other students in that part.
Course PoliciesEach student is required to submit an Identity Affidavit. By confirming this 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 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.
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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 mountaintime. Our telephone number is 801-492-9933 and the support email [email protected].
Please note, our technical support staff will often be unable to answer content questions which
are more appropriately directed to your instructor.
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, each covering different aspects of the Secure and Fair
Enforcement for Mortgage Licensing Act of 2008 (SAFE Act).
SAFE 20 Hour Pre-licensing Course 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.
SAFE Part One: Consumer Protection
Learning Activity Welcome: The student will follow the instructions to make a post about
themselves.
Consumer Protection Chapter 1: Chapter One covers the Gramm-Leach-Bliley Act. It consists of
the following sections:
Privacy Rule Safeguard Rule Pre-texting
Consumer Protection Chapter 2: Chapter Two covers the Do Not Call Rules. It consists of the
following sections:
Do Not Call Registry Do Not Fax Rules
Consumer Protection Chapter 3: Chapter Three covers the Red Flags Rule. It consists of the
following sections:
Definitions Red Flag Rule Requirements
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Identifying Red FlagsLearning Activity Consumer Protection: The student will follow instructions to post
information on the discussion forum regarding consumer protection.
Identity Theft Case Study: The student will review information on the Federal Trade
Commission's web site and answer related questions.
Learning Activity Identity Theft: After reviewing the information from the case study, the
student will follow instructions to post remarks on the discussion forum.
Fair Lending & Housing Chapter 1: Chapter One covers the Fair Housing Act, the Equal Credit
Opportunity Act, and the Home Mortgage Disclosure Act. It consists of the following sections:
Fair Housing Act
Equal Credit Opportunity Act Home Mortgage Disclosure Act
Fair Lending & Housing Chapter 2: Chapter Two covers the Fair Credit Reporting Act and the
Fair and Accurate Credit Transaction Act. It consists of the following sections:
Fair Credit Reporting Act Fair and Accurate Credit Transaction Act
Fair Lending & Housing Chapter 3: Chapter Three covers the governmental agencies who
participate in regulating the mortgage industry. It consists of the following sections:
Role of the Federal Reserve Role of the Federal Trade Commission Role of the Department of Housing and Urban Developments
Hud Case Study: The student will review information on the HUD web site and answer related
questions with regard to Fair Housing.
Learning Activity Fair Housing: After completing the HUD case study, the student will follow
instructions to post a scenario on the discussion forum.
Loan Fraud & Ethics 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 to Loan Fraud Definition of Loan Fraud
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Consequences of Loan Fraud Types of Fraud
Loan Fraud and Ethics Chapter 2: Chapter Two will review popular loan fraud schemes and
loan fraud statistics. This chapter also discusses ways to detect fraud and licensee obligations
when it comes to loan fraud. It consists of the following sections: Common Loan Fraud Schemes Short Sale Fraud MARI Fraud Index
Loan Fraud Case Study: The student will review information on the FBI's web site and answer
related questions with regard to fraud.
Learning Activity Loan Fraud & Ethics: The student will search the Internet for two examples of
loan fraud and report their findings to their instructor through the internal email system.
SAFE Part Two: Federal Law
Non-Traditional Mortgage Products Chapter 1: Chapter One introduces the student to non-
traditional mortgage products. It consists of the following sections:
Introduction to the Industry Definition of the Industry Product Overviews
Non-Traditional Mortgage Products Chapter 2: Chapter Two covers federal guidance of thenon-traditional mortgage industry. It consists of the following sections:
Interagency Guidance on Nontraditional Mortgage Product Risks Loan Terms and Underwriting Standards Portfolio and Risk Management Practices Consumer Protection Issues Statement on Sub-prime Mortgage Lending Predatory Lending Prepayment Penalties Reduced Documentation Payment Shock Workout Arrangements Consumer Protection Principles
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RESPA Chapter 1: Chapter One introduces RESPAs provisions regarding disclosure of costs and
record keeping. It consists of the following sections:
Purposes of the Real Estate Settlement Procedures Act Scope of RESPA
Exempt Transactions Definitions Advance Disclosure of Costs - Good Faith Estimate
RESPA Chapter 2: Chapter Two explains RESPAs kickback and referral fee provisions. It
consists of the following sections:
Eliminate Kickbacks and Referral Fees Common RESPA Violations
RESPA Chapter 3: Chapter Three covers affiliated business arrangements and servicing
requirements set forth in RESPA. It consists of the following sections:
Affiliated Business Arrangements Servicing Issues
Learning Activity RESPA: The student will follow the instructions to post a comment on the
discussion forum regarding RESPA.
TILA Chapter 1: Chapter One introduces the Truth in Lending Act and includes definitions as
well as information on APR and advertising. It consists of the following sections:
Definitions Annual Percentage Rate Advertising Rules Trigger Terms Required Disclosures
TILA Chapter 2: Chapter Two covers disclosure and the right to cancel. It consists of the
following sections:
Disclosure Requirements Early Disclosures Early Disclosure and Closing Collecting Fees Changes During the Transaction Right of Rescission High-Cost Loans Additional Disclosures Higher-priced Loans
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TILA Chapter 3: Chapter Three covers loan officer compensation. It consists of the following
sections:
LO Compensation Rule Payments Based on Transaction Terms
Reducing LO Compensation on a Transaction Other Compensation Issues Final Rule and Official Staff Commentary Safe Harbor Presenting Loan Options
TILA Chapter 4: Chapter Four Covers the ability to repay and QM rule. It consists of the
following section:
Ability to Repay and QM RuleLearning Activity TILA: The student will follow the instructions to search the Internet to findmortgage ads which include trigger terms. They will complete an assignment and submit it to
their instructor through the internal email system.
SAFE Part Three: Industry Basics
Industry Chapter 1: Chapter One reviews the structure of the mortgage industry. It consists of
the following sections:
Structure of the Mortgage Industry The Primary Market The Secondary Market Mortgage Brokers Mortgage Lenders/Bankers Secondary Market Transactions The Capital Market
Industry Chapter 2: Chapter Two discusses the basic mortgage categories. It consists of the
following sections:
Mortgage Industry Overview Purchase Transactions Rate/Term Refinance Cash-Out Refinance Mortgage Categories Conventional/Conforming FHA - Federal Housing Administration
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Advantages of FHA Lending Higher Debt to Income Ratios Non-occupant Co-borrowers Disadvantages of FHA Lending VA Loans Rural Housing Construction Loans Jumbo/Non-Conforming Second Mortgage/HELOC Reverse Equity/HECM
Loan Process: Qualification Chapter 1: Chapter One covers pre-qualification. It consists of the
following sections:
Pre-qualification Down Payment Income Debts Credit
Loan Process: Qualification Chapter 2: Chapter Two explores file documentation. It consists
of the following sections:
Assembling the File Income Documentation Acceptable Assets
Loan Process: Qualification Chapter 3: Chapter Three reviews credit reports. It consists of the
following sections:
Credit Reports Credit Scores
FICO Scores Case Study: The student will review credit scores and answer questions related to
FICO.
Learning Activity Credit Report: The student will follow the instructions to post a comment on
the discussion forum regarding credit scores.
Learning Activity Loan Process: Qualification: The student will complete an assignment based
on qualification calculations and submit their work to their instructor through the internal email
system.
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SAFE Part Four: NJ Mortgage Law
NJ Mortgage Law Chapter 1: Chapter One covers the New Jersey Department of Banking and
Insurance as well as New Jersey State Law and Regulation Definitions. It consists of thefollowing sections:
Introduction Acts and Code Definitions
NJ Mortgage Law Chapter 2: Chapter Two covers the New Jersey Residential Mortgage Lending
Act and Regulations. It consists of the following sections:
Qualified Individual Licensee Exemptions Background Check Business Licensee Business Licensee Bond Fees Required Notification Reporting Requirements Criminal Check Credit Check Required Education Testing Continuing Education
NJ Mortgage Law Chapter 3: Chapter Three covers compliance and consists of the following
sections:
Prohibited Conduct License Name License Changes Required Provisions Required Actions Required Disclosures Fees Advertising Special Rules for Brokers
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NJ Mortgage Law Chapter 4: Chapter Four covers disciplinary action and unique state test
areas and it consists of the following sections:
Disciplinary Action Suspension, Revocation, and Cease and Desist Orders
Penalties Civil Liability Abusive Mortgage Lending Prohibited Fees Enforcement Penalties Civil Actions Good Faith
NJ Licensing Case Study: The student will be directed to the Department's website where theywill read through the Mortgage Loan Originator licensing requirements. After they have read
the information, they will answer the questions and submit their answers to the instructor for
grading.
Course Final: 125 question course final covering all of the material in the course.
Course Evaluation: Students will be allowed to give feedback regarding the course.
Course ScheduleThis 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. The scheduled days are
approximate as well, you are not required to follow the prescribed outline, but doing so would
allow you to complete the course in the allotted time frame. This course meets the minimum
time requirement of 50 seat minutes for each clock hour the course is approved. This course is
approved as a 20 hour course and must be completed in its entirety in order for you to receive
credit.
Good LuckOnce 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!
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Course Outline and Schedule - 7 Day
ScheduleTopics and
ActivitiesReading Due Assignments Due
Instruction Time
Allocation (in
minutes)
Day 1
SAFE 20 Hour Pre-licensing Course
Introduction
Introduction and
SyllabusSubmit Online Affidavit 15
SAFE Part One:
Consumer
Protection
Learning Activity
Welcome
Learning Activity
Instructions
Post an introduction on
the Discussion Forum10
Consumer
ProtectionChapters 1, 2, & 3
Complete Chapter Quizzes
and Test100
Learning ActivityConsumer
Protection
Learning Activity
Instructions
Post Information
regarding consumer
protection on the
Discussion Forum
10
Identity Theft Case
Study
Review information
on FTC's websiteComplete Quiz 10
Learning Activity
Identity Theft
Review information
on FTC's website
Post remarks on the
Discussion Forum10
Day 2
Fair Lending &
HousingChapters 1, 2, & 3
Complete Chapter Quizzes
and Test100
HUD Case StudyReview information
on HUD's website
Complete Quiz 10
Learning Activity
Fair Housing
Review information
on HUD's website
Post a scenario on the
Discussion Forum10
Loan Fraud &
EthicsChapters 1 & 2
Complete Chapter Quizzes
and Test100
Loan Fraud Case
Study
Review Information
on FBI's websiteComplete Quiz 10
Learning Activity
Loan Fraud &
Ethics
Internet search for
loan fraud examples
Report findings to
instructor20
Day 3
SAFE Part Two:
Federal LawNon-traditional
Mortgage Products
Chapters 1 & 2 Complete Chapter Quizzesand Test
100
RESPA Chapters 1, 2, & 3Complete Chapter Quizzes
and Test100
Learning Activity
RESPAN/A
Post a comment on the
Discussion Forum
regarding RESPA
10
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Day 4
TILA Chapters 1, 2, 3 & 4Complete Chapter Quizzes
and Test110
Learning ActivityTILA
Internet search fortrigger terms
Report findings toinstructor
20
Day 5
SAFE Part Three:
Industry Basics
Industry
Chapters 1 & 2Complete Chapter Quizzes
and Test100
Loan Process:
QualificationChapters 1, 2, & 3
Complete Chapter Quizzes
and Test100
FICO Scores Case
StudyReview credit scores Complete Quiz 10
Learning Activity
Credit ReportReview credit scores
Post a comment on the
Discussion Forum
regarding credit scores
10
Learning Activity
Loan Process:
Qualification
N/A
Complete an assignment
based on qualification
calculations and submit to
instructor
20
Day 6
SAFE Part Four: NJ
Mortgage Law
NJ Mortgage Law
Chapters 1, 2, & 3Complete Chapter Quizzes
and Test130
Day 7
NJ Mortgage LawChapter 4 Complete Chapter Quizzes
and Test40
NJ Licensing CaseStudy
Licensing
Requirements onDepartment's
website
Answer questions
related to licensing andsubmit to instructor
20
Course Final N/A Complete Exam 20
Evaluation N/A Complete evaluation 5
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Course Outline and Schedule - 14 Day
ScheduleTopics and
ActivitiesReading Due Assignments Due
Instruction
Time Allocation
(in minutes)
Days 1-2
SAFE 20 Hour Pre-licensing Course
Introduction
Introduction and
SyllabusSubmit Online Affidavit 15
SAFE Part One:
Consumer
Protection
Learning Activity
Welcome
Learning Activity
Instructions
Post an introduction on
the Discussion Forum10
Consumer
ProtectionChapters 1, 2, & 3
Complete Chapter Quizzes
and Test100
Learning ActivityConsumer
Protection
Learning Activity
Instructions
Post Information
regarding consumer
protection on the
Discussion Forum
10
Identity Theft Case
Study
Review information
on FTC's websiteComplete Quiz 10
Learning Activity
Identity Theft
Review information
on FTC's website
Post remarks on the
Discussion Forum10
Days 3-4
Fair Lending &
HousingChapters 1, 2, & 3
Complete Chapter Quizzes
and Test100
HUD Case StudyReview information
on HUD's website
Complete Quiz 10
Learning Activity
Fair Housing
Review information
on HUD's website
Post a scenario on the
Discussion Forum10
Loan Fraud &
EthicsChapters 1 & 2
Complete Chapter Quizzes
and Test100
Loan Fraud Case
Study
Review Information
on FBI's websiteComplete Quiz 10
Learning Activity
Loan Fraud &
Ethics
Internet search for
loan fraud examples
Report findings to
instructor20
Days 5-6
SAFE Part Two:
Federal LawNon-traditional
Mortgage Products
Chapters 1 & 2 Complete Chapter Quizzesand Test
100
RESPA Chapters 1, 2, & 3Complete Chapter Quizzes
and Test100
Learning Activity
RESPAN/A
Post a comment on the
Discussion Forum
regarding RESPA
10
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Days 7-8
TILA Chapters 1, 2, 3 & 4Complete Chapter Quizzes
and Test110
Learning ActivityTILA
Internet search fortrigger terms
Report findings toinstructor
20
Days 9-
10
SAFE Part Three:
Industry Basics
Industry
Chapters 1 & 2Complete Chapter Quizzes
and Test100
Loan Process:
QualificationChapters 1, 2, & 3
Complete Chapter Quizzes
and Test100
FICO Scores Case
StudyReview credit scores Complete Quiz 10
Learning Activity
Credit ReportReview credit scores
Post a comment on the
Discussion Forum
regarding credit scores
10
Learning Activity
Loan Process:
Qualification
N/A
Complete an assignment
based on qualification
calculations and submit to
instructor
20
Days 11-
12
SAFE Part Four: NJ
Mortgage Law
NJ Mortgage Law
Chapters 1, 2, & 3Complete Chapter Quizzes
and Test130
Days 13-14
NJ Mortgage LawChapter 4 Complete Chapter Quizzes
and Test40
NJ Licensing CaseStudy
Licensing
Requirements onDepartment's
website
Answer questions
related to licensing andsubmit to instructor
20
Course Final N/A Complete Exam 20
Evaluation N/A Complete evaluation 5