2 Hour MI SAFE: Understanding Michigan Mortgage Law Online Self-Study Pre-Licensing Education [Course #10986]

Course Format

This 2 Hour MI SAFE: Understanding Michigan Mortgage Law pre-licensing education course is conducted in an online setting.  Students are able to move through online courses at their own learning pace. My Mortgage Trainer, Inc. uses their Learning Management System (LMS) which supports multiple browsers. Additionally, this course is delivered in two (2) modules of content and can be accessed at any time. The course will utilize case studies and practice quizzes to help you better comprehend the course material. As required by the NMLS, the class completes with a final exam and survey. Upon class enrollment, you will receive a confirmation email to include login information to begin the course. When you log into your course you will have to read and acknowledge the ROC’s agreement and confirm your identity through bio-signature in order to proceed with online course.

2 Hour MI SAFE Course Topics

This course will explore key topics including the Mortgage Loan Originator Licensing Act, the Mortgage Brokers, Lenders, and Servicers Licensing Act. Additionally, we will cover the Secondary Mortgage Loan Act, The Consumer Mortgage Protection Act, and the Mortgage Lending Practices Act. By the end of the course, you will:

• Understand that the Mortgage Loan Originator Licensing Act (MLOLA), specifically MCL 493.139, section 9(1)(c)(i), dictates that a license will not be issued if the Applicant has been convicted of a felony within a 10-year period preceding the date of application.
• Grasp the license renewal requirements and the penalty for late renewal under MCL 493.145, section 15 of MLOLA. Note that the license renews annually on 12/31. Additionally, be aware that the late penalty incurs a charge of $25 per day if received after December 31, with a maximum fee of $1,000, as per MCL 493.149, section 19 of MLOLA.

For more on Michigan Education Requirements, Visit: Michigan Education Notice