8 Hour SAFE Comprehensive: 2021 Essentials #12740
The 8 Hour SAFE Comprehensive course meets SAFE Act continuing education requirements for licensed entities through analysis and introspection of ethical behavior, compliance essentials covered in the federal laws component and the nontraditional lending component provides an overview of the Veteran’s Administration (VA) lending program. Finally, the last component is the Evaluating Consumer Credit course which will provide a foundational knowledge of evaluating consumer credit information. In the 3-hour federal laws component of the course, our comparison of fair lending regulations and the role they play in mortgage lending provides a foundation for compliance. The component includes review of the Fair Housing Act, the Equal Credit Opportunity Act, the Fair Credit Reporting Act as well as the Truth-in-Lending Act, and Real Estate Settlement Procedures Act. The ethics component provides ethical mortgage scenarios to reinforce expected behaviors essential to federal compliance while highlighting personal responsibility. Recognizing and embodying ethical behavior by defining ethics and examining our own values and beliefs. The component explores both personal and business ethics. The nontraditional component explores VA lending, including programs, borrower eligibility, and property eligibility. Lastly, 1-hour elective components, Evaluating Consumer Credit, will unpack the wealth of information contained in a credit report and provide you with a methodology for reconciling credit and handling credit problems that may be uncovered in your analysis.
Please note that the SAFE Act specifically prohibits the taking of the same course in successive years.
Upon completion of this course, you will be able to:
3 Hour Federal Law: Fair Housing Act, Equal Credit Opportunity Act, Fair Credit Reporting Act and TILA/RESPA (155 minutes)
- Identify ECOA notice requirements (50 minutes)
- Discuss loan origination fee and unallowable fees as specified by the Department of Veteran Affairs (20 minutes)
- Review consumer consent requirements of the Electronic Records and Signatures in Commerce Act (15 minutes)
- Explain HMDA disclosure and reporting method for how an application is taken (20 minutes)
- Provide TILA requirements related to the Loan Estimate, Changed Circumstances, Tolerance Violations and Timeliness of Disclosures (45 minutes)
2 Hour Ethics: Ethical Practices (100 minutes)
- Introduction (5 minutes)
- Introduction to ethics (45 minutes)
- MLO ethical responsibilities (40 minutes)
- Advertising (25 minutes)
- Case Study (5 minutes)
2 Hour Nontraditional: Veteran’s Administration Home Loan Program (100 minutes)
- Identify the benefits of VA loans (25 minutes)
- Calculate the maximum mortgage amount under various circumstances (30 minutes)
- Identify the income requirements and standards for VA home loans (20 minutes)
- Recognize the basics of VA credit and property standards (25 minutes)
1 Hour Elective: Evaluating Consumer Credit (50 minutes)
- Explain the factors that influence a credit score (10 minutes)
- Recognize the major credit reporting agencies and the characteristics of their reports (5 minutes)
- Handle identity theft and fraud alerts (5 minutes)
- Identify the steps in reconciling a credit report (10 minutes)
- Identify the characteristics of nontraditional credit (10 minutes
- Evaluate factors of credit risk (10 minutes)
Each self-paced, self-study course examines a particular topic, allowing students to hone in on a focused set of learning concepts. Each course is designed with learning objectives, comprehensive course materials, learning reinforcement activities that appeal to various learning styles and real-world examples, with audio and/or video recordings of industry experts.
The final exam is completed online with instant grading, and you can download your industry-recognized certificate of completion after you successfully pass the course. This course will take no less than one hour to complete.
Tuition and Registration
Tuition for this course is $175.00 and includes the Credit Banking and Admin Fee applicable to this course.
Students have until December 31 in the year in which the course is purchased to complete the course.
You may complete the course at any time during this period. However, course providers are afforded seven calendar days to credit the student’s NMLS account following successful completion of the course. It is strongly advised that you complete the course at least one week prior to the December 31 deadline.
NOTE: The SAFE Act specifically prohibits the taking of the same course in successive years.
For more information or to register by phone, call your Regional Account Executive at (800) 848-4904 or visit http://icemortgagetechnology.com/allregs.