8 Hour ID Mortgage Law Update 2016 Syllabus Revised

8/18/2019 8 Hour ID Mortgage Law Update 2016 Syllabus Revised

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8 Hour ID SAFE Comprehensive Mortgage Loan Originator Course 2016Course Syllabus

Welcome to our ID SAFE Comprehensive Mortgage Loan Originator Course for 2016. We areexcited to assist you in furthering your mortgage career and are pleased you chose PraedoInstitute to satisfy your education requirements.

Course PurposeThis course is meant to satisfy the 2016 NMLS eight hour mortgage loan originator continuingeducation requirement for the state of Idaho.

Course Description

Our comprehensive course meets the NMLS Comprehensive CE requirement for Idaho bycovering the following topics: three hours of Federal Law, two hours of Ethics and Loan Fraud,two hours of the Nontraditional Lending, and one hour of Idaho Mortgage Law.

Course Dates and TimesThis course is offered for the 2016 license renewal period. The deadline to complete Idaho CEis December 1, 2016. In order to ensure proper reporting to NMLS, this course must becompleted by November 20, 2016.

Course ObjectivesUpon 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 comply with Idaho licensing requirements; Explain ways to stay compliant and avoid punishments and penalties; and Use the rules and regulations to better serve mortgage borrowers.

Grading PolicyThe course consists of slides mixed with comprehension questions. Each individual quizquestion is timed for 30 seconds. If you do not answer the quiz question within the allottedtime, 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 takeand pass a comprehensive final exam. This course is timed as an eight hour course. You mustcomplete the parts, in order, to progress through the course. You must answer all of thecomprehension questions correctly and score 80 percent on all quizzes and tests to receivecredit for the course. You may retake course quiz questions until you pass, but you are allowedonly 10 retakes of the course final.

Course PoliciesEach student is required to submit an Identity Affidavit. By confirming the attestation, thestudent certifies that the course work was or will be completed by the person for whom thecertificate will be issued. The student further certifies that they did or will not receive anyassistance in completing the course. The submission of a completion certificate for a coursethey did not complete themselves may constitute fraud on the student’s part and is subject toprosecution 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 MountainTime. Our mailing address is 42 North, 200 East, Ste. 3, American Fork, UT 84003. Ourtelephone 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 SystemOnce you purchase the course and are logged into our system, you should see a link to thecourse on your home page. This link will launch the course. Please carefully review theintroduction module for instructions on using our online system.

Course OutlineThis course consists of four parts, covering the following subjects: Federal Law, Loan Fraud,Nontraditional Mortgage, and Idaho Mortgage Law.

ID Comprehensive SAFE CE 2016 Part 1: Federal Law

Introduction: This module will introduce you to our system. Adherence to the advice andinstructions 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 ofthe 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 andLighthouse Title. It consists of the following sections:

Introduction

Wells Fargo/Chase CFPB Settlement Lighthouse Title CFPB SettlementRESPA Enforcement Chapter 2: Chapter 2 reviews the CFPB Compliance Bulletin and severalhypothetical examples that apply. It consists of the following sections:

CFPB Compliance Bulletin Case Study

ID 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

ID Comprehensive SAFE CE 2016 Part 3: Nontraditional Lending

VA Home Loans: This part covers the origination of mortgage loans that are to be guaranteedby 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

ID Comprehensive SAFE CE 2016 Part 4:Idaho Mortgage Law Update 2016

ID Mortgage Law Update 2016 Chapter 1 consists of the following sections: Terms and Definitions Continuing Education for the Industry (License Renewal and Reinstatement) Violations and Penalties Practical Examples of Violations and Accompanying Penalties

ID Mortgage Law Update 2016 Chapter 2 consists of the following sections: Prohibited Acts and Practices Unlawful Acts

Case Study

ID Comprehensive SAFE CE 2016 Course Final: 25 question final exam covering all of thematerial discussed in the course.

Course Evaluation: Students will be allowed to give feedback regarding the course.


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Course ScheduleThis course consists of the four parts outlined below. The requirements for each part are listedwith the approximate time needed to complete each learning module. This course meets theminimum 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 orderfor you to receive credit.

Good LuckOnce 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)

ID Comprehensive SAFE CE 2016 Part 1: Federal Law

Introduction Instructions ROC & Attestation 10Fair Lending Chapter

1 Department of Justice Quiz Question 7

Fair Lending Chapter1

Consumer FinancialProtection Bureau

Quiz Question 2


Fair Housing Act Quiz Questions 9


Equal CreditOpportunity Act

Quiz Question 2


When You Apply forCredit Quiz Question 2


When Deciding toGrant Credit

Quiz Question 4


You Also Have theRight to…

Quiz Question 2


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If a Creditor hasDiscriminated Against

youQuiz Question 2


Types ofDiscrimination

Quiz Question 1


Overt Discrimination Quiz Question 2


Disparate Treatment Quiz Questions 6


Disparate Impact Quiz Questions 6


N/A Chapter Quiz 3


Home MortgageDisclosure Act

Quiz Question 4


HMDA Case Study Quiz Question 3


HMDA Data Quiz Question 1


Tips for Compliance Quiz Question 3


Case Study #1 Quiz Questions 9


Case Study #2 Quiz Questions 9

Fair Lending Chapter2 Case Study #3 Quiz Questions 8


Recent Cases Quiz Questions 24


N/A Chapter Quiz 3


N/A Course Final 10

RESPA EnforcementChapter 1

IntroductionQuiz Question 3


Wells Fargo/ChaseCFPB Settlement Quiz Questions 25


Lighthouse Title CFPBSettlement

Quiz Questions 17


N/A Chapter Quiz 3


CFPB ComplianceBulletin

Quiz Questions 9


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Case StudyQuiz Question 32


N/A Chapter Quiz 3

RESPA Enforcement

Chapter 2 N/A Course Final 5

ID Comprehensive SAFE CE 2016 Part 2: Ethics and Loan Fraud

Loan Fraud Chapter 1 Introduction Quiz Question 6Loan Fraud Chapter 1 Types of Fraud Quiz Questions 27Loan Fraud Chapter 1 Case Study Quiz Questions 11Loan Fraud Chapter 1 N/A Chapter Quiz 5Loan Fraud Chapter 2 Loan Fraud Statistics Quiz Question 4Loan 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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ID 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 1VA Home Loans Eligible Loan Purposes Quiz Question 1VA 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 toLenders

Quiz Question 1

VA Home Loans Basic Entitlement andthe Amount of Loan

GuarantyQuiz Question 2

VA Home Loans Who is Eligible for a

VA Home Loan?Quiz Question 4

VA Home LoansHow to Document

Eligibility andEntitlement

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 Listedas Unpaid on the COE

Quiz Question 1

VA Home Loans Back-to-Back Closings Quiz Question 1

VA Home LoansVA GuarantyCalculation

Quiz 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 1VA 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, NationalGuard & Active Duty

ApplicantsQuiz Question 2

VA Home Loans Helpful Hints for

Reviewing the MilitaryLES

Quiz Question 1

VA Home Loans VA Education Benefits Quiz Question 1

VA Home LoansRental Income for 2-4

Unit PropertiesQuiz 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 3VA Home Loans Seller Concessions Quiz Question 1

VA Home Loans Purchase Agreement

Escape ClauseQuiz Question 1

VA Home Loans Case Study Quiz Questions 5VA Home Loans N/A Course Final 5


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ID Comprehensive SAFE CE 2016 Part 4: Idaho Mortgage Law Update 2016

ID Mortgage LawUpdate 2016Chapter 1

Course Introduction Quiz Question 8


Terms and Definitions Quiz Question 5


Continuing Educationfor the Industry

Quiz Question 5


Enforcement andInvestigative Authority

Quiz Question 2


Violations andPenalties

Quiz Question 4


Practical Examples ofViolations andAccompanying

Penalties

Quiz Question 4


N/A Chapter Quiz 5


Prohibited Acts andPractices

Quiz Question 5


Unlawful Acts Quiz Question 4


Case Study Quiz Question 5


N/A Chapter Quiz 3

Course Final N/AComprehensive Final

Exam20

Course Evaluation N/A Evaluation 5

8 Hour ID Mortgage Law Update 2016 Syllabus Revised

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