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classroom equivalent course. During the time period in which the course is being offered,
instructors are required to hold students accountable for attendance and work, and must be
responsive to students assignments and questions just as they would be in a physical
classroom. "
Instructor Contact Information
Once you register for the course, you will receive an email from the instructor assigned to your
course. The email will introduce your instructor as well as explain contact methods and
expected response times. Once your course session opens, you will be able to contact your
instructor via the "Contact Instructor" button on your home page.
Course Objectives
Each of the individual modules in this course include learning objectives applicable to the
individual module itself. Our course is meant to give you an introduction to the mortgage
industry. Upon completing this course, you should be able to do the following:
Define basic mortgage terms;
Perform mathematical calculations common to the mortgage industry;
Explain certain mortgage concepts to potential borrowers;
Comply with applicable federal laws related to the mortgage industry;
Explain the Final Rule on Mortgage Loan Originator Qualification and Compensation
Practices;
Understand the Qualified Mortgage Rule;
Apply lessons learned from the advertising enforcement activities;
Analyze situations and properly evaluate them in the context of fair lending compliance;
Explain the USDA Rural Housing Program and requirements;
Understand the 203k program;
Understand the changes resulting from the Dodd-Frank bill and how the CFPB impacts;
the mortgage industry
Explain the role of the Division of Mortgage Lending of the Department of Banking and
Industry;
Outline the requirements to obtain a license in Nevada; and
Explain the duties and obligations imposed upon a licensee.
Grading Policy
Most of the sections in this course consist of slides mixed with comprehension questions. Each
chapter includes a chapter quiz, and most sections include a course final. You may view the
slides at your own pace, but you must answer all of the comprehension questions correctly and
score 80 percent on all quizzes to receive credit for the course. You must also pass the
comprehensive course final with a score of at least 80 percent.
Several of the modules also include case studies, which involve the completion of a certain
project. The details for the individual case studies are found in the course.
Our course also includes 8-10 learning activities. In each of the learning activities, you will be
required to either post comments on our discussion forum or email an assignment to your
instructor for grading. Instructions for the learning activities are included in the course.
Your course consists of six parts. At the end of each part, you will be required to submit an
assignment to your instructor. You must submit your assignment to your instructor by
midnight MT on the day the assignment is due. If you fail to submit your assignment by this
time, you will fail the course and be required to reschedule your course and start from the
beginning.
Your instructor will grade your assignment by 10am MT the following day. Once your
assignment has been graded and passed, your instructor will allow you access to the next part
of your course. Assignments will ONLY be graded between midnight on the submission date
and 10am MT the following day to ensure that all students progress through the course as a
cohort.
If your assignment is rejected by your instructor, you will need to re-do and re-submit the
assignment. Once the assignment has been re-submitted, you will also need to email
support@praedo.com to inform us of the re-submission. Your instructor will grade it in a timely
manner and if you pass, you will be allowed to continue with the course. Please be sure to
check your course email for your instructor's approval.
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 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 students part and is subject to
prosecution and/or discipline.
Technical Support
As our course is entirely online, we do offer live technical support via telephone and email 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
telephone number is 801-492-9933 and the support email is support@praedo.com. Please
note, our technical support staff will often be unable to answer content questions which are
more appropriately directed to your instructor.
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 six parts, each covering different aspects of the Secure and Fair
Enforcement for Mortgage Licensing Act of 2008 (SAFE Act).
Identity Theft Case Study: The student will review information on the Federal Trade
Commission's web site and answer related questions.
Learning Activity Identity Theft: After reviewing the information from the case study, the
student will follow instructions to post remarks on the discussion forum.
Fair Lending & Housing Chapter 1: Chapter One covers the Fair Housing Act, the Equal Credit
Opportunity Act, and the Home Mortgage Disclosure Act. It consists of the following sections:
Fair Housing Act
Equal Credit Opportunity Act
Home Mortgage Disclosure Act
Fair Lending & Housing Chapter 2: Chapter Two covers the Fair Credit Reporting Act and the
Fair and Accurate Credit Transaction Act. It consists of the following sections:
Fair Credit Reporting Act
Fair and Accurate Credit Transaction Act
Fair Lending & Housing Chapter 3: Chapter Three covers the governmental agencies who
participate in regulating the mortgage industry. It consists of the following sections:
Role of the Federal Reserve
Role of the Federal Trade Commission
Role of the Department of Housing and Urban Developments
Hud Case Study: The student will review information on the HUD web site and answer related
questions with regard to Fair Housing.
Learning Activity Fair Housing: After completing the HUD case study, the student will follow
instructions to post a scenario on the discussion forum.
Loan Fraud & Ethics Chapter 1: Chapter One will introduce you to the definition of loan fraud
and different types of loan fraud. It consists of the following sections:
Introduction to Loan Fraud
Definition of Loan Fraud
Consequences of Loan Fraud
Types of Fraud
Loan Fraud and Ethics Chapter 2: Chapter Two will review popular loan fraud schemes and
loan fraud statistics. This chapter also discusses ways to detect fraud and licensee obligations
when it comes to loan fraud. It consists of the following sections:
Common Loan Fraud Schemes
Loan Fraud Case Study: The student will review information on the FBI's web site and answer
related questions with regard to fraud.
Learning Activity Loan Fraud & Ethics: The student will search the Internet for two examples of
loan fraud and report their findings to their instructor.
This assignment must be completed and submitted by midnight MT on the date indicated in
the course schedule.
Exempt Transactions
Definitions
Eliminate Kickbacks and Referral Fees
RESPA Update Chapter 2: Chapter Two covers affiliated business arrangements and servicing
requirements set forth in RESPA. It consists of the following sections:
Affiliated Business Arrangements
Servicing Issues
Learning Activity RESPA: The student will follow the instructions to post a comment on the
discussion forum regarding RESPA.
TILA Update Chapter 1: Chapter One introduces the Truth in Lending Act and includes
definitions as well as information on APR and advertising. It consists of the following sections:
Definitions
Annual Percentage Rate
Advertising Rules
Trigger Terms
Required Disclosures
TILA Update Chapter 2: Chapter Two covers disclosure and the right of rescission. It consists of
the following sections:
Disclosure Requirements
Early Disclosures
Early Disclosure and Closing
Right of Rescission
High-Cost Loans
Higher-Priced Loans
TILA Update Chapter 3: Chapter Three covers loan originator compensation. It consists of the
following sections:
LO Compensation Rule
Payments Based on Transaction Terms
Reducing LO Compensation on a Transaction
Steering
Safe Harbor
TILA Update Chapter 4: Chapter Four Covers the ability to repay and QM rule. It consists of
the following section:
Ability to Repay and QM Rule
Learning Activity TILA: The student will follow the instructions to search the Internet to find
mortgage ads which include trigger terms. They will complete an assignment and submit it to
their instructor.
This assignment must be completed and submitted by midnight MT on the date indicated in
the course schedule.
Credit Scores
FICO Scores Case Study: The student will review credit scores and answer questions related to
FICO.
Learning Activity Credit Report: The student will follow the instructions to post a comment on
the discussion forum regarding credit scores.
Learning Activity Loan Process: Qualification: The student will complete an assignment based
on qualification calculations and submit their work to their instructor.
This assignment must be completed and submitted by midnight MT on the date indicated in
the course schedule.
Learning Activity Loan Process: Part II: The student will review the types of loan products
discussed and follow the instructions to post a comment on the discussion forum and respond
to another student's post.
Math Chapter 1: Chapter One covers the types of problems contained on the SAFE national
exam outline. It consists of the following sections:
Interest Calculations
Monthly Payments
Interest Only Payments
Down Payment Calculations
Math Chapter 2: Chapter Two covers loan to value ratios, debt to income ratios, and ARM
adjustments. It consists of the following sections:
LTV Calculations
Debt to Income Ratios
ARM Adjustments
Loan Payment Case Study: The student will complete a series of math calculations.
The student will submit their completed assignment to their instructor for grading.
This assignment must be completed and submitted by midnight MT on the date indicated in
the course schedule.
Case Study
Federal Law Review Chapter 3: Chapter Three covers the complicated Fair Lending federal
statutes and rules. It consists of the following sections:
Why do we care about Fair Lending
Department of Justice
Consumer Financial Protection Bureau
Fair Housing Act
Equal Credit Opportunity Act
Types of Discrimination
Nontraditional Mortgage Chapter 1: Chapter One introduces and explains the USDA Rural
Housing Program. It consists of the following sections:
USDA Rural Housing Program
Definitions and Explanations
Purpose of the Rural Housing Program
Eligible Use of Funds
Restrictions of the Use of Funds
Applicant Eligibility Requirements
Site Requirements
Case Study
Nontraditional Mortgage Chapter 2: Chapter Two includes an overview of the 203k program.
It consists of the following sections:
Overview of the 203k Program
Specifics of the Program
How Can You Use 203k?
Definitions
Application Process
Case Study
Nevada Mortgage Law Chapter 2: Chapter Two covers license law and regulation compliance
for mortgage bankers, mortgage brokers and mortgage agents. It consists of the following
sections:
Mortgage Bankers - Qualifications
Mortgage Bankers - License Issuance
Mortgage Bankers - Record Keeping
Mortgage Bankers - Reporting
Mortgage Brokers - Exemptions
Mortgage Brokers - Qualifications
Mortgage Brokers - Bonds
Mortgage Brokers - Pre-licensing Education
Mortgage Brokers - License Denial
Mortgage Brokers - Continuing Education
Mortgage Brokers - License Renewal
Mortgage Brokers - Record Keeping and Reporting
Mortgage Agent - Qualifications
Mortgage Agent - License Issuance
Mortgage Agent - Financial Responsibilities
Mortgage Agent - License Expiration and Renewal
Nevada Mortgage Law Chapter 3: Chapter Three covers compliance for mortgage bankers,
mortgage brokers, and mortgage agents. It consists of the following sections:
Unfair Lending Practices
Prohibited Practice
Mortgage Fraud
Mortgage Bankers - Disclosures
Mortgage Bankers - Qualified Employee
Mortgage Bankers - Advertising
Mortgage Brokers - Prohibited Conduct and Practices
Mortgage Brokers - Written Appraisals
Mortgage Brokers - Change in Ownership
Mortgage Brokers - Fiduciary Obligation of Licensee to Client
Mortgage Brokers - Escrow Account
Mortgage Brokers - Trust Account
Mortgage Brokers - Investor Trust or Escrow Accounts
Mortgage Brokers - Working with Mortgage Agents
Mortgage Brokers - Disclosures
Mortgage Brokers - Advertising
this schedule and progress through the course with the other students in your session in
order to receive credit for the course. Per NMLS regulations, if you do not complete the
course as outlined in the course schedule, you will automatically fail the course. At that
point, you may choose a different session date and re-start the course from the beginning.
This course meets the minimum time requirement of 50 seat minutes for each clock hour the
course is approved. This course is approved as a 30 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!