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Mortgage Educationby Paul Donohue With the recent passage of the SAFE Act, mortgage education is more important than ever. The Secure and Fair Enforcement (SAFE) Mortgage Licensing Act was passed by Congress on July 30, 2008. The SAFE Act is a central part of the Housing and Economic Recovery Act (HERA). The SAFE Act creates procedures and requires minimum standards for continuing education and testing. The Act also required the establishment of a national registration system for all depository and non-depository mortgage loan originators. For individuals who want to become a mortgage loan originator, the SAFE Act requires them to take a 20-hour mortgage education course and national and state test to qualify for licensure. Current mortgage loan originators must complete an 8-hour continuing mortgage education course annually to maintain their licensure. At Abacus we provide comprehensive mortgage education and training courses that satisfy SAFE Act requirements. About Pre-Licensing We offer both national and state pre-licensing mortgage education classes. You can choose from live classroom instruction or online live webinars to complete the required 20-hour minimum standard. The 20-hour SAFE Comprehensive PE provides a review of course materials and an Exam Cram. The major topics of discussion in the pre-licensing course include: Introduction to Mortgage Lending and Mortgage Principles; Credit Scoring, types of Loans and Methods of Financing; The Ethical Imperative of Consumer Protection, Mortgage Fraud and Identity Theft; The Loan Application and Math Workshop; Introduction to Federal Laws and Disclosures; The SAFE Act; The Fair Credit Reporting Act and the Red Flags Rule; Federal Law Flash Review and Quiz; Nontraditional Mortgage Products; Ethics and Consumer Protections; Processing and Appraisal; Underwriting, Closing and Final Quiz. For a complete description of major topics and sub topics, please click on the course description for pre -licensing education. About Continuing Education Mortgage professionals need a dependable continuing education provider. At Abacus, we hold several continuing education courses either online via live webinars or live classroom instruction. Please see our class schedule online at Abacustmortgagetraining.com. Continuing education topics include: The SAFE Act; The Fair Credit Reporting Act and Red Flags Rule; Federal Law Flash Review and Quiz; Nontraditional Mortgage products; Nontraditional Mortgage Products Review and Quiz; and Ethics and Consumer Protections. For a more in-depth description of topics and subtopics, click on the course description button for continuing education. vWe believe continuing education is an integral part of your development and training as a mortgage professional. Staying up-to-date on key changes in the industry is important. All of our course materials were written with the SAFE act in mind. If you are ready to engage in extensive and intensive mortgage education training course, contact us about enrolling in a class today.
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