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

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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;


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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]


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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


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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


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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


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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.


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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


1

Consumer Financial

Protection BureauQuiz Question 2


1 Fair Housing Act Quiz Questions 9


1

Equal Credit

Opportunity Act

Quiz Question 2


1

When You Apply for

CreditQuiz Question 2


1

When Deciding to

Grant CreditQuiz Question 4


1

You Also Have the

Right to… Quiz Question 2


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1

If a Creditor has

Discriminated Against

you

Quiz Question 2


1

Types of

DiscriminationQuiz Question 1

Fair Lending Chapter1

Overt Discrimination Quiz Question 2


1 Disparate Treatment Quiz Questions 6


1 Disparate Impact Quiz Questions 6


1N/A Chapter Quiz 3


2

Home Mortgage

Disclosure ActQuiz Question 4

Fair Lending Chapter2

HMDA Case Study Quiz Question 3


2HMDA Data Quiz Question 1


2Tips for Compliance Quiz Question 3


2Case Study #1 Quiz Questions 9


2Case Study #2 Quiz Questions 9


2 Case Study #3 Quiz Questions 8


2Recent Cases Quiz Questions 24


2N/A Chapter Quiz 3


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


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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


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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


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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


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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

8 hour az mortgage law update 2016 course syllabus revised 2.pdf

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