8 Hour AZ Mortgage Law Update 2016 Course Syllabus Revised 2.pdf
-
Upload
praedoinstitute -
Category
Documents
-
view
216 -
download
0
Transcript of 8 Hour AZ Mortgage Law Update 2016 Course Syllabus Revised 2.pdf
-
8/17/2019 8 Hour AZ Mortgage Law Update 2016 Course Syllabus Revised 2.pdf
1/12
8 Hour AZ SAFE Comprehensive Mortgage Loan Originator Course 2016
Course Syllabus
Welcome to our Arizona SAFE Comprehensive Mortgage Loan Originator Course for 2016. We
are excited to assist you in furthering your mortgage career and are pleased you chose Praedo
Institute to satisfy your education requirements.
Course Purpose
This course is meant to satisfy the 2016 NMLS eight hour mortgage loan originator continuing
education requirement for the state of Arizona.
Course Description
Our comprehensive course meets the NMLS Comprehensive CE requirement for Arizona by
covering the following topics: three hours of Federal Law, two hours of Ethics and Loan Fraud,
two hours of Nontraditional Lending, and one hour of Arizona Mortgage Law.
Course Dates and Times
This course is offered for the 2016 license renewal period. In order to ensure proper reporting
to NMLS before all mortgage loan originator licenses expire on December 31, 2016, this course
must be completed by December 21, 2016.
Course Objectives
Upon completing this course, you should be able to do the following:
Explain why fair lending is an important compliance issue for mortgage companies;
Understand the federal laws related to fair lending;
Apply lessons learned in fair lending cases to your mortgage practice;
Analyze situations and properly evaluate them in the context of fair lending compliance;
Understand the definition of an MSA;
Apply the CFPB's stance on MSAs to real life situations;
Identify a non-compliant MSA according to RESPA And CFPB guidance;
Understand what constitutes loan fraud;
Explain the anti-money laundering and Suspicious Activity Report requirements;
Recognize when a mortgage lender or broker would be required to file a Suspicious
Activity Report;
-
8/17/2019 8 Hour AZ Mortgage Law Update 2016 Course Syllabus Revised 2.pdf
2/12
Better understand the VA Home Loan Benefit;
Understand the differences in loan authority granted to lenders;
Learn to identify eligible veterans;
Learn the general process options for obtaining a Certificate of Eligibility;
Review unique VA policies and guidelines; Understand and the scope and applicability of applicable Arizona mortgage laws and
rules;
Comply with the requirements for licensees under the applicable laws and rules; and
Protect the public by following the requirements set forth in the rules and laws.
Grading Policy
The course consists of slides mixed with comprehension questions. Each individual quiz
question is timed for 30 seconds. If you do not answer the quiz question within the allotted
time, the course will time out. At this point, you will be redirected to your dashboard and uponre-opening the course, you will be required to repeat the section prior to the quiz question.
Each chapter includes a chapter quiz. At the end of the final part, you will be required to take
and pass a comprehensive final exam. This course is timed as an eight hour course. You must
complete the parts, in order, to progress through the course. You must answer all of the
comprehension questions correctly and score 80 percent on all quizzes and tests to receive
credit for the course. You may retake course quiz questions until you pass, but you are allowed
only 10 retakes of the course final.
Course Policies
Each student is required to submit an Identity Affidavit. By confirming the attestation, the
student certifies that the course work was or will be completed by the person for whom the
certificate will be issued. The student further certifies that they did not or will not receive any
assistance in completing the course. The submission of a completion certificate for a course
they did not complete themselves may constitute fraud on the student’s part and is subject to
prosecution and/or discipline.
Technical SupportAs our course is entirely online, we do offer live technical support via telephone, email, and
chat from 8:30am to 5:00pm Mountain Time on regular business days. After hours, holiday,
and weekend support is available 365 days a year via email from 9:00am to 10:00pm Mountain
Time. Our mailing address is 42 North, 200 East, Ste. 3, American Fork, UT 84003. Our
telephone number is 801-492-9933 and our support email is [email protected].
mailto:[email protected]:[email protected]:[email protected]:[email protected]
-
8/17/2019 8 Hour AZ Mortgage Law Update 2016 Course Syllabus Revised 2.pdf
3/12
Using our System
Once you purchase the course and are logged into our system, you should see a link to the
course on your home page. This link will launch the course. Please carefully review the
introduction module for instructions on using our online system.
Course Outline
This course consists of four parts, covering the following subjects: Federal Law, Loan Fraud,
Nontraditional Mortgage, and Arizona Mortgage Law.
AZ Comprehensive SAFE CE 2016 Part 1: Federal Law
Introduction: This module will introduce you to our system. Adherence to the advice and
instructions offered in this module will greatly improve your online education experience.
Fair Lending Chapter 1: Chapter One reviews fair lending. It consists of the following sections:
Department of Justice
Consumer Financial Protection Bureau
Fair Housing Act
Equal Credit Opportunity Act
When You Apply for Credit
When Deciding to Grant Credit
You Also Have the Right to…
If a Creditor has Discriminated Against you Types of Discrimination
Overt Discrimination
Disparate Treatment
Disparate Impact
Fair Lending Chapter 2: Chapter Two reviews the Home Mortgage Disclosure Act. It consists of
the following sections:
Home Mortgage Disclosure Act
HMDA Case Study
HMDA Data
Tips for Compliance
Case Study #1
Case Study #2
Case Study #3
Recent Cases
-
8/17/2019 8 Hour AZ Mortgage Law Update 2016 Course Syllabus Revised 2.pdf
4/12
RESPA Enforcement Chapter 1: Chapter One reviews cases involving Wells Fargo/Chase and
Lighthouse Title. It consists of the following sections:
Introduction
Wells Fargo/Chase CFPB Settlement Lighthouse Title CFPB Settlement
RESPA Enforcement Chapter 2: Chapter 2 reviews the CFPB Compliance Bulletin and several
hypothetical examples that apply. It consists of the following sections:
CFPB Compliance Bulletin
Case Study
AZ Comprehensive SAFE CE 2016 Part 2: Ethics and Loan Fraud
Loan Fraud 2016 Chapter 1: Chapter One will introduce you to the definition of loan fraud anddifferent types of loan fraud. It consists of the following sections:
Introduction
Fraud for Housing
Fraud for Profit
Air Loan
Appraisal/Valuation
Assets
Employment
Identity Theft
Income
Non-Arm’s Length Transaction
Occupancy Fraud
Settlement Agent
Short Sale
Shot-Gunning
Straw Borrower
Undisclosed Debt
Affinity Fraud
Builder Bail-Out
Foreclosure Rescue
Loan Modification Scams
Reverse Mortgage Fraud
Case Study
-
8/17/2019 8 Hour AZ Mortgage Law Update 2016 Course Syllabus Revised 2.pdf
5/12
Loan Fraud 2016 Chapter 2: Chapter Two will review loan fraud statistics and SARS reporting.
It consists of the following sections:
Loan Fraud Statistics
Types of Fraud
Mortgage Fraud Case Studies SARs Reporting
Anti-Money Laundering Rule
SARs Rule Reporting Requirements
AZ Comprehensive SAFE CE 2016 Part 3: Nontraditional Lending
VA Home Loans: This part covers the origination of mortgage loans that are to be guaranteed
by the Veterans Administration (VA) on 1-4 unit Single Family Residences. It consists of the
following sections: What is a VA Home Loan?
VA Loan Features
Eligible Loan Purposes
Property Eligibility
Occupancy Requirements
Who has Jurisdiction over the Lender?
Types of Approval Authority Granted to Lenders
Basic Entitlement and the Amount of Loan Guaranty
Who is Eligible for a VA Home Loan
How to Document Eligibility and Entitlement
VA Lender Resources
What is ‘Restoration’ of Entitlement?
Clearing Loans Listed as Unpaid on the COE
Back-to-Back Closings
VA Guaranty Calculation
Joint Loans
Case Study
Maximum Loan-To-Value
Maximum Loan Amount
Funding Fee
Appraisals
Minimum Property Requirements
Refinances
-
8/17/2019 8 Hour AZ Mortgage Law Update 2016 Course Syllabus Revised 2.pdf
6/12
Energy Efficient Mortgage
Credit
Income
Reservists, National Guard & Active Duty Applicants
Helpful Hints for Reviewing the Military LES VA Education Benefits
Rental Income for 2-4 Unit Properties
Debt to Income Ratio (DTI)
Residual Income
Special Instructions for using Tables
Residual Income Calculation
Power of Attorney (POA)
‘Alive and Well’ Status
VA Loan Fees
Seller Concessions
Purchase Agreement Escape Clause
Case Study
AZ Comprehensive SAFE CE 2016 Part 4:
Arizona Mortgage Law Update 2016
AZ Mortgage Law Update 2016 Chapter 1 consists of the following sections:• Definitions and Explanations
• License Renewal
• Prohibited Acts
• Case Study
AZ Mortgage Law Update 2016 Chapter 2 consists of the following sections:
• Escrow Accounts and Records Requirements
• Mortgage Recovery Fund
AZ Comprehensive SAFE CE 2016 Course Final: 25 question final exam covering all of the
material discussed in the course.
Course Evaluation: Students will be allowed to give feedback regarding the course.
-
8/17/2019 8 Hour AZ Mortgage Law Update 2016 Course Syllabus Revised 2.pdf
7/12
Course Schedule
This course consists of the four parts outlined below. The requirements for each part are listed
with the approximate time needed to complete each learning module. This course meets the
minimum time requirement of 50 seat minutes for each clock hour the course is approved.This course is approved as an eight hour course and must be completed in its entirety in order
for you to receive credit.
Good Luck
Once again, thank you for choosing Praedo Institute. Your success is extremely important to us.
Please let us know if we can be of assistance at any time. Enjoy the course!
Course Outline and Schedule
Module Reading Assignments DueInstruction Time
Allocation (Minutes)
AZ Comprehensive SAFE CE 2016 Part 1: Federal Law
Introduction Instructions ROC & Attestation 10
Fair Lending Chapter
1 Department of Justice Quiz Question 7
Fair Lending Chapter
1
Consumer Financial
Protection BureauQuiz Question 2
Fair Lending Chapter
1 Fair Housing Act Quiz Questions 9
Fair Lending Chapter
1
Equal Credit
Opportunity Act
Quiz Question 2
Fair Lending Chapter
1
When You Apply for
CreditQuiz Question 2
Fair Lending Chapter
1
When Deciding to
Grant CreditQuiz Question 4
Fair Lending Chapter
1
You Also Have the
Right to… Quiz Question 2
-
8/17/2019 8 Hour AZ Mortgage Law Update 2016 Course Syllabus Revised 2.pdf
8/12
Fair Lending Chapter
1
If a Creditor has
Discriminated Against
you
Quiz Question 2
Fair Lending Chapter
1
Types of
DiscriminationQuiz Question 1
Fair Lending Chapter1
Overt Discrimination Quiz Question 2
Fair Lending Chapter
1 Disparate Treatment Quiz Questions 6
Fair Lending Chapter
1 Disparate Impact Quiz Questions 6
Fair Lending Chapter
1N/A Chapter Quiz 3
Fair Lending Chapter
2
Home Mortgage
Disclosure ActQuiz Question 4
Fair Lending Chapter2
HMDA Case Study Quiz Question 3
Fair Lending Chapter
2HMDA Data Quiz Question 1
Fair Lending Chapter
2Tips for Compliance Quiz Question 3
Fair Lending Chapter
2Case Study #1 Quiz Questions 9
Fair Lending Chapter
2Case Study #2 Quiz Questions 9
Fair Lending Chapter
2 Case Study #3 Quiz Questions 8
Fair Lending Chapter
2Recent Cases Quiz Questions 24
Fair Lending Chapter
2N/A Chapter Quiz 3
Fair Lending Chapter
2N/A Course Final 10
RESPA Enforcement
Chapter 1Introduction Quiz Question 3
RESPA Enforcement
Chapter 1
Wells Fargo/Chase
CFPB Settlement Quiz Questions 25
RESPA Enforcement
Chapter 1
Lighthouse Title CFPB
SettlementQuiz Questions 17
RESPA Enforcement
Chapter 1N/A Chapter Quiz 3
RESPA Enforcement
Chapter 2
CFPB Compliance
BulletinQuiz Questions 9
-
8/17/2019 8 Hour AZ Mortgage Law Update 2016 Course Syllabus Revised 2.pdf
9/12
RESPA Enforcement
Chapter 2
Case StudyQuiz Question 32
RESPA Enforcement
Chapter 2N/A Chapter Quiz 3
RESPA Enforcement
Chapter 2 N/A Course Final 5
AZ Comprehensive SAFE CE 2016 Part 2: Ethics and Loan Fraud
Loan Fraud Chapter 1 Introduction Quiz Question 6
Loan Fraud Chapter 1 Types of Fraud Quiz Questions 27
Loan Fraud Chapter 1 Case Study Quiz Questions 11
Loan Fraud Chapter 1 N/A Chapter Quiz 5
Loan Fraud Chapter 2 Loan Fraud Statistics Quiz Question 4
Loan Fraud Chapter 2 Types of Fraud Quiz Question 4
Loan Fraud Chapter 2 Mortgage Fraud CaseStudies
Quiz Question 7
Loan Fraud Chapter 2 SARs Reporting Quiz Questions 12
Loan Fraud Chapter 2Anti-Money
Laundering RuleQuiz Questions 6
Loan Fraud Chapter 2SARs Rule Reporting
RequirementsQuiz Questions 17
Loan Fraud Chapter 2 N/A Course Final 10
-
8/17/2019 8 Hour AZ Mortgage Law Update 2016 Course Syllabus Revised 2.pdf
10/12
AZ Comprehensive SAFE CE 2016 Part 3: Nontraditional Lending
VA Home LoansWhat is a VA Home
Loan?Quiz Question 4
VA Home Loans VA Loan Features Quiz Question 1
VA Home Loans Eligible Loan Purposes Quiz Question 1
VA Home Loans Property Eligibility Quiz Question 2
VA Home LoansOccupancy
RequirementsQuiz Question 1
VA Home LoansWho has Jurisdiction
over the Lender?Quiz Question 1
VA Home Loans
Types of Approval
Authority Granted to
Lenders
Quiz Question 1
VA Home Loans
Basic Entitlement and
the Amount of Loan
Guaranty
Quiz Question 2
VA Home Loans Who is Eligible for a
VA Home Loan?Quiz Question 4
VA Home Loans
How to Document
Eligibility and
Entitlement
Quiz Question 2
VA Home Loans VA Lender Resources Quiz Question 5
VA Home Loans What is ‘Restoration’
of Entitlement?Quiz Question 2
VA Home Loans Clearing Loans Listed
as Unpaid on the COEQuiz Question 1
VA Home Loans Back-to-Back Closings Quiz Question 1
VA Home LoansVA Guaranty
CalculationQuiz Question 6
VA Home Loans Joint Loans Quiz Question 1
VA Home Loans Case Study Quiz Questions 5
VA Home Loans Maximum Loan-To-
ValueQuiz Question 1
VA Home Loans Maximum Loan
AmountQuiz Question 1
VA Home Loans Funding Fee Quiz Question 1
VA Home Loans Appraisals Quiz Question 1
-
8/17/2019 8 Hour AZ Mortgage Law Update 2016 Course Syllabus Revised 2.pdf
11/12
VA Home Loans Minimum Property
RequirementsQuiz Question 5
VA Home Loans Refinances Quiz Question 1
VA Home Loans Energy Efficient
MortgageQuiz Question 2
VA Home Loans Credit Quiz Question 2VA Home Loans Income Quiz Question
VA Home Loans
Reservists, National
Guard & Active Duty
Applicants
Quiz Question 2
VA Home Loans
Helpful Hints for
Reviewing the Military
LES
Quiz Question 1
VA Home Loans VA Education Benefits Quiz Question 1
VA Home LoansRental Income for 2-4
Unit Properties
Quiz Question 1
VA Home LoansDebt to Income Ratio
(DTI)Quiz Question 1
VA Home Loans Residual Income Quiz Question 2
VA Home Loans Special Instructions for
using TablesQuiz Question 2
VA Home Loans Residual Income
CalculationQuiz Question 1
VA Home LoansPower of Attorney
(POA)Quiz Question 1
VA Home Loans ‘Alive and Well’ Status Quiz Question 1VA Home Loans VA Loan Fees Quiz Question 3
VA Home Loans Seller Concessions Quiz Question 1
VA Home Loans Purchase Agreement
Escape ClauseQuiz Question 1
VA Home Loans Case Study Quiz Questions 5
VA Home Loans N/A Course Final 5
-
8/17/2019 8 Hour AZ Mortgage Law Update 2016 Course Syllabus Revised 2.pdf
12/12
AZ Comprehensive SAFE CE 2016 Part 4: Arizona Mortgage Law Update 2016
AZ Mortgage Law
Update 2016
Chapter 1
Course Introduction Quiz Question 5
AZ Mortgage Law
Update 2016
Chapter 1
Definitions and
ExplanationsQuiz Question 7
AZ Mortgage Law
Update 2016
Chapter 1
License Renewal Quiz Question 3
AZ Mortgage Law
Update 2016
Chapter 1
Prohibited Acts Quiz Question 6
AZ Mortgage LawUpdate 2016
Chapter 1
Case Study Quiz Question 5
AZ Mortgage Law
Update 2016
Chapter 1
N/A Chapter Quiz 5
AZ Mortgage Law
Update 2016
Chapter 2
Escrow Accounts and
Records RequirementsQuiz Question 6
AZ Mortgage Law
Update 2016Chapter 2
Mortgage Recovery
Fund Quiz Question
8
AZ Mortgage Law
Update 2016
Chapter 2
N/A Chapter Quiz 3
AZ SAFE CE 2016
Course FinalN/A
Comprehensive Final
Exam20
Course Evaluation N/A Evaluation 5