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This NMLS-approved course presents modern mortgage principles and practices in compliance with the Federal SAFE Act and is central to understanding the financing of residential real estate as generally applied to all states. This comprehensive guide is an excellent resource for mastering the 20-hour SAFE Act pre-licensing requirements for mortgage loan originators. The content includes 3 hours of federal law, 3 hours of ethics, 2 hours of non-traditional mortgage products, and 12 hours of elective topics to form the building blocks of mortgage loan origination principles and practices. All major regulations such as the SAFE Act, the Truth in Lending Act, the Equal Credit Opportunity Act, RESPA, the Fair Credit Reporting Act, GLBA, the Dodd-Frank Wall Street Reform and Consumer Protection Act, and other industry-changing legislation is identified and explained in a clear and understandable manner. This book walks a student through what is a mortgage, how is it calculated, what is a mortgage loan originator's role and responsibility, how one is paid, and what legislative actions shape and are shaping the role of the mortgage loan originator. Mortgage principles are reinforced through learning objectives, key term reviews, extensive examples, chapter summaries, review questions, critical thinking questions and much more. This NMLS-approved course also includes a course outline, instructor's resource guide, chapter PowerPoint presentations, detailed teaching chapter outlines, interactive flashcard reviews, and a final exam – everything you need. 272 pp.
Features:
NMLS--approved course in compliance with the Federal SAFE Act and is central to understanding the financing of residential real estate as generally applied to all states.
A comprehensive guide providing a review of modern mortgage principles, industry terms and definitions, current documents and federal regulations. No additional workbook required.
Content includes 3 hours of federal law, 3 hours of ethics, 2 hours of non-traditional mortgage products, and 12 hours of elective topics to form the building blocks of mortgage loan origination principles and practices.
Critical thinking and chapter review questions challenge students to apply modern mortgage principles and put concepts into practice.
Ethical case studies facilitate interactive,, open discussions to develop critical thinking skills that lead to the discovery of ethical solutions.
Self--study format and engaging content supports independent learning using the review questions and practice exam.
Expert authorship with experience in the residential mortgage industry as well as in developing and delivering courses in compliance with the Federal SAFE Act.
Table of Contents:
1. Mortgage Industry Overview.
2. Mortgage Loan Originator Licensing.
3. How Mortgage Loan Originators Work.
4. Truth in Lending: How Mortgage Loan Originators are Regulated.
5. Equal Credit Opportunity Act.
6. Real Estate Settlement Procedures Act.
7. Miscellaneous Federal Regulations.
8. Mortgage Loan Origination.
9. Non-Traditional Mortgage Products and Government Loans.
National Residential Mortgage Loan Originator
