SAFE 20 Hour Webinar 

SAFE Comprehensive Fundamentals of Mortgage PE (Course #1130) 

12/12/2022_12/14/2022   (11AM-5:40PM EST)                            

Course Format: Webinar (online with a live instructor)
Credit Hours: 20 PE Credits
NMLS Approval 

All participants in a webinar must have a webcam and show themselves from the shoulders up at all times per revised NMLS rules! Students will not be on display to other students for entire show but must be on camera for Instructor or Instructors Proctor to verify attendance.

The 20-Hour SAFE Comprehensive Fundamentals of Mortgage Education course has been approved by NMLSR. This course meets the pre-licensing education requirements of the SAFE Act of 2008 containing:

    • 3 hours of federal law and regulations;
    • 3 hours of ethics, which includes instruction on fraud consumer protection and fair lending issues; and
    • 2 hours of training related to lending standards for the nontraditional mortgage product marketplace. 

This course also contains 12 hours of elective content. The following topics will be covered:

The Truth in Lending Act (TILA) – Regulation Z – [2 Hours]

    • TIL Disclosure Statements
    • Disclosures for Variable Rate Credit Plans
    • Advertising Disclosure Requirements
    • The Mortgage Disclosure Improvement Act (MDI/HERA) – July Rule
    • Home Owners Protection Enforcement Act (HOEPA)

The Real Estate Settlement Procedures Act (RESPA) – Regulation X – [2 Hours]

    • Required Disclosures at all Stages
    • Service Disclosure Statements, Booklets and Requirements
    • Damages and Costs for Noncompliance
    • Prohibiting Kickbacks and Unearned Fees
    • Penalties for Violation
    • Affiliated Business Arrangement Form

New RESPA Good Faith Estimate – [1 Hour]

    • Understanding the New Good Faith Estimate
    • Changes Made to Facilitate Shopping
    • The New Good Faith Estimate
    • Analyzing the Form

The Equal Credit Opportunity Act (ECOA) Regulation B – [1 Hour]
Prequalification Programs and ECOA Discrimination Adverse Action Notice of Action Taken and Statement of Reasons

The Home Mortgage Disclosure Act (HMDA) = Regulation C – [30 Minutes]

  • Background and Summary

The Federal Credit Reporting Act (FCRA) – [1 Hour]

    • FCRA Background and Summary
    • Obtaining Consumer Reports
    • Obtaining Information and Sharing Among Affiliates
    • Disclosures to Consumer and Miscellaneous Requirements
    • Duties of Users of Consumer Reports and Furnishers of Consumer Report Information
    • Consumer Alerts and Identity Theft Protections

Privacy Laws – [1.5 Hours]

    • Gramm-Leach Bliley Act (GLB)
    • The Fair and Accurate Credit Transaction Act (FACTA)
    • The Red Flags Rule
    • The USA Patriot Act
    • The Federal Trade Commission’s (FTC’s) Disposal Rule

Interagency Guidance on Nontraditional Mortgage Product Risks – [2 Hours]

    • Loan Terms and Underwriting Standards
    • Qualifying Borrowers
    • Statement on Subprime Mortgage Lending
    • Portfolio and Risk Management Practices
    • Management Information and Reporting
    • Consumer Protection Issues
    • Recommended Practices
    • Terminology & Review

Ethics, Fraud, Consumer Protection & Fair Lending Issues – [3 Hours]

    • Ethics
    • Ethics and Mortgage Lending
    • Ethics and Predatory Lending
    • Fraud
    • Types of Mortgage Fraud
    • Fraud Schemes
    • Liability for Fraud
    • Preventing Fraud

General Mortgage Knowledge – [6 Hours]

    • History, Introduction to the Mortgage Industry
    • Settlement Service Providers
    • Mortgage Industry Contracts and Instruments
    • Fannie Mae/Freddie Mac Uniform Mortgage Contract
    • Snapshot of the Mortgage Loan Process
    • Automated Processing
    • Loan Programs
    • Insurance
    • National Flood Insurance Act (NFIA)
    • Steps in Loan Processing
    • Understanding Credit
    • Credit Bureaus
    • Consumer Rights
    • Income Verification
    • Income Calculation Methodology
    • The Underwriting Process
    • FHA and VA Appraisal Guidelines
    • Evaluating the Borrower
    • Loan-to-Value Calculations
    • The Commitment
    • Lock In Agreement
    • Recording the Deed of Trust
    • Mortgage Calculations

Note to Purchaser: In addition to the Webinar, the cost of this course also includes an ungraded practice test, a graded practice test, and content covering the Uniform State Test (UST).  It is unnecessary to purchase the SAFE20 materials separately.


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