Professional Documents
Culture Documents
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. "
Your course consists of four 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 four parts, each covering different aspects of the Secure and Fair
Enforcement for Mortgage Licensing Act of 2008 (SAFE Act).
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
Short Sale Fraud
MARI Fraud Index
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.
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.
Rate/Term Refinance
Cash-Out Refinance
Mortgage Categories
Conventional/Conforming
FHA - Federal Housing Administration
Advantages of FHA Lending
Higher Debt to Income Ratios
Non-occupant Co-borrowers
Disadvantages of FHA Lending
VA Loans
Rural Housing
Construction Loans
Jumbo/Non-Conforming
Second Mortgage/HELOC
Reverse Equity/HECM
Loan Process: Qualification Chapter 1: Chapter One covers pre-qualification. It consists of the
following sections:
Pre-qualification
Down Payment
Income
Debts
Credit
Loan Process: Qualification Chapter 2: Chapter Two explores file documentation. It consists
of the following sections:
Assembling the File
Income Documentation
Acceptable Assets
Loan Process: Qualification Chapter 3: Chapter Three reviews credit reports. It consists of the
following sections:
Credit Reports
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.
SAFE Part Four: Loan Process Part II & Tennessee Mortgage Law
Loan Process: Part II Chapter 1: Chapter One covers mortgage products. It consists of the
following sections:
Fixed Rate Mortgages
Adjustable Rate Mortgages
Balloons
HELOC - Home Equity Line of Credit
Reverse Mortgages
Loan Process: Part II Chapter 2: Chapter Two covers appraisals. It consists of the following
sections:
Types of appraisals
Cost Approach
Income Approach
Market Approach
Loan Process: Part II Chapter 3: Chapter Three covers the closing process. It consists of the
following sections:
Hazard Insurance
Flood Insurance
Mortgage Insurance
Dropping Mortgage Insurance
Title, Escrow and Closing
Mortgages, Notes and Liens
Title Insurance Policies
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.
TN Mortgage Law Chapter 1: Chapter One covers the TN Residential Lending, Brokerage and
Servicing Act. It consists of the following sections:
RLBSA
Who's in Charge?
References
Definitions
MLO Regulations
Loan Originator Licensing
Sponsorship
Prelicensing
Renewal
Chapter Quiz: 10 question quiz covering all of the material discussed in Chapter One.
TN Mortgage Law Chapter 2: Chapter Two continues the study of the TN Residential Lending,
Brokerage and Servicing Act. It also covers the TN Home Loan Protection act as well as rules
pertaining to mortgage lending, loan servicing and loan brokering. It consists of the following
sections:
Prohibitions and Enforcement
Investigations and Examinations
Cease and Desist Orders and Penalties
Home Loan Protection Act
Rules Pertaining to Mortgage Lending, Loan Servicing and Loan Brokering
Chapter Quiz: 10 question quiz covering all of the material discussed in Chapter Two.
Licensee Qualification Case Study: The student will be directed to the Department's website
where they will read through several enforcement actions related to license qualification. The
student will answer questions related to the reading material.
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.
Course Final: The student is required to take and pass a 25 question comprehensive final exam
with a score of 80% or higher. You have 10 attempts to pass the exam.
Course Evaluation: Students will be allowed to give feedback regarding the course.
The course final must be completed and submitted by midnight MT on the date indicated in
the course schedule.
Course Schedule
This course consists of the four parts outlined above. The requirements for each part are listed
in the course schedule with the time allowed to complete each learning module. You must
follow 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 20 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!