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License Renewal - See Schedule COURSES OFFERED

Florida Mortgage School Instructor
David Hennon

 


Currently Offering:

20 Hour SAFE NMLS Comprehensive Course - Class Number 1365


Course Number 1365 - Starting October 1, 2010 all licensed mortgage brokers will need to take this course in order to be compliant with the new National Mortgage Licensing System. The Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act) established requirements for the licensing and registration of all Mortgage Loan Originators (MLOs). MLOs who work for an insured depository or its owned or controlled subsidiary that is regulated by a federal banking agency, or for an institution regulated by the Farm Credit Administration, are registered. All other MLOs are to be licensed by the states. This course is taught by our licensed instructors according to the NMLS guidelines. Please check our schedule for a course near you! This is an Approved NMLS Course




Course 2415 - 8 Hour SAFE Comprehensive: Key Topics for MLOs


Course Purpose

This course satisfies the requirements set forth by the Secure and Fair Enforcement Mortgage Licensing Act for a comprehensive 8-hour continuing education course for mortgage loan originators.

 

Course Description

This course covers the following continuing education topics as required by the SAFE Act: Federal lending legislation: RESPA Rules, Regulations, and Disclosure (3 hrs), ethics: Mortgage Fraud (2 hrs), and nontraditional mortgage products: The Reverse Mortgage (2 hrs). Also included is 1 hour of elective topics on Income Analysis for the Self-employed Borrower.

Course Objectives

Upon completion of this course, students will be able to:

  • Explain when a debt is not part of the debt ratio.
  • Identify required tax forms needed by business type.
  • Review and analyze the various tax forms to determine income.
  • Explain when an expense is really income for residential underwriting purposes.
  • Compute a self-employed borrower’s underwriting income.
  • Describe the reverse mortgage and how it can help the senior homeowner.
  • Recognize the types of reverse mortgages now available in the industry.
  • Discuss how this market is changing to meet the needs of borrowers.
  • Identify the requirements, payment options, and providers of this product.
  • Be familiar with “Truth in Lending Requirements” for reverse mortgages.
  • Define mortgage fraud.
  • Identify the agencies responsible for monitoring fraud.
  • Identify the participants in mortgage fraud schemes.
  • Recognize the effects mortgage fraud has on consumers.
  • Understand the events that have led to an increase in mortgage fraud.
  • Define fraud for profit and fraud for property.
  • Recognize the participants in these mortgage fraud schemes.
  • Identify the various types of schemes involved in mortgage fraud.
  • Identify the various mechanisms used to perpetrate mortgage fraud schemes.
  • Recognize the red flags associated with each fraud mechanism.
  • Adopt best practices to mitigate the scheme.
  • Describe the purpose of RESPA and explain how its rules and regulations apply to loans, lenders, and service providers.
  • Identify the required RESPA disclosures and indicate when each completed form must be completed and delivered to a borrower.
  • Discuss the format of the Good Faith Estimate disclosure and identify how settlement costs the borrower is likely to incur are shown in specific blocks on this standardized form.
  • Discuss the format of the HUD-1 Settlement Statement disclosure and identify how actual settlement costs are recorded and itemized in sequential lines on this standardized form.
  • Explain how estimates on the GFE can be compared to actual charges recorded on the HUD-1 Settlement Statement.
  • Describe tolerance levels that apply to specific cost categories limit the amount of change permitted from initial estimate to actual recorded cost.


4 Hour Florida-Specific Professional Education for Mortgage Loan Originators


If you have already taken the 20 hour National Mortgage Licensing System course, and either are new to the industry, or you currently are licensed, and passed your Florida Mortgage Broker exam. This course is taught by our licensed instructors according to the State of Florida's guidelines. This is an Approved NMLS Course




8- Hour Continuing Education: SAFE Comprehensive: Key Topics for MLOs


Course Purpose: This course satifies the 8-Hr Continuing Education requirement for all States. This course satisfies the requirements set forth by the Secure and Fair Enforcement Mortgage Licensing Act for a comprehensive 8-hour continuing education course for mortgage loan originators. Course Description This course covers the following continuing education topics as required by the SAFE Act: Federal lending legislation: RESPA Rules, Regulations, and Disclosure (3 hrs), ethics: Mortgage Fraud (2 hrs), and nontraditional mortgage products: The Reverse Mortgage (2 hrs). Also included is 1 hour of elective topics on Income Analysis for the Self-employed Borrower.