Course Syllabus - 10 Day
Welcome to our Maryland SAFE Comprehensive Course. We are excited
to assist you in
furthering or beginning your mortgage career and are pleased you
chose Praedo Institute to
satisfy your education requirements.
Course Purpose
This course is meant to satisfy the 20 hour SAFE education
requirement for mortgage originator
licensure for the state of Maryland. This course will also prepare
you for the National
Component of the SAFE Mortgage Loan Originator Exam.
Course Description
Along with 15 hours of SAFE required education, this course
includes 5 hours of Maryland Law
as well as information related to loan qualification and the loan
process. This course satisfies
the Maryland SAFE requirement. Included in this course are:
discussion forums, interactive
content, practice questions, and live instructor support.
Course Dates and Times
This course begins on Wednesday's at 8:00am Mountain Time and must
be completed by
midnight on the session end date. Please note: In this session, you
will be required to
complete course work and assignments over the weekend.
Please pay close attention to the course schedule found on the
slide following this syllabus.
You are required by NMLS to complete assignments and progress
through the course with the
other students in your session. If you do not submit your
assignments by the required time
and fall behind in the course, you will automatically fail the
course. At that point, you may
choose a different session date and re-start the course from the
beginning.
NMLS has made it quite clear that courses must be completed in a
timely manner. Please
consider the following from Functional Specifications for all NMLS
Approved Courses: Version
6.
"Note: The availability of Online Instructor-Led courses is
intended to ensure an option exists
for individuals where attending a classroom course may be
problematic due to geography or
lack of availability of a local course provider. The scheduling of
these courses is not intended to
be a “convenience” option whereby a st udent can causally work
at their own pace or when their
time and put forth the same level of effort as would be required to
complete a classroom or
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 student’s 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;
Explain certain mortgage concepts to potential
borrowers;
Comply with applicable federal laws related to the mortgage
industry;
Explain the role of the State of Maryland Department of
Labor, Licensing and
Regulation, Division of Financial Regulation;
Outline the requirements to obtain a license in
Maryland;
Explain the duties and obligations imposed upon a licensee;
and
You should also be able to pass the National Component of
the SAFE Mortgage Loan
Originator Exam.
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 SAFE
practice exam with a score of at least 80 percent.
Several of the modules also include case studies, which involve the
completion of a certain
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 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
[email protected] 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
student’s 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
[email protected] . 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).
SAFE Part One: Consumer Protection
SAFE 20 Hour Pre-licensing Course 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.
Learning Activity Welcome: The student will follow the instructions
to make a post about
themselves.
Consumer Protection Chapter 1: Chapter One covers the
Gramm-Leach-Bliley Act. It consists
of the following sections:
Pre-texting
Consumer Protection Chapter 2: Chapter Two covers the Do Not Call
Rules. It consists of the
following sections:
Do Not Call Registry
Do Not Fax Rules
Consumer Protection Chapter 3: Chapter Three covers the Red Flags
Rule. It consists of the
following sections:
Learning Activity Consumer Protection: The student will follow
instructions to post
information on the discussion forum regarding consumer
protection.
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
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 through
the internal email system.
This assignment must be completed and submitted by midnight MT on
the date indicated in
the course schedule.
Non-Traditional Mortgage Products Chapter 1: Chapter One introduces
the student to non-
traditional mortgage products. It consists of the following
sections:
Introduction to the Industry
Definition of the Industry
Non-Traditional Mortgage Products Chapter 2: Chapter Two covers
federal guidance of the
non-traditional mortgage industry. It consists of the following
sections:
Interagency Guidance on Nontraditional Mortgage Product
Risks
Loan Terms and Underwriting Standards
Portfolio and Risk Management Practices
Consumer Protection Issues
Predatory Lending
Prepayment Penalties
Reduced Documentation
Payment Shock
Workout Arrangements
Consumer Protection Principles
RESPA Chapter 1: Chapter One introduces RESPA’s provisions
regarding disclosure of costs and
record keeping. It consists of the following sections:
Purposes of the Real Estate Settlement Procedures Act
Scope of RESPA
Advance Disclosure of Costs - Good Faith Estimate
RESPA Chapter 2: Chapter Two explains RESPA’s kickback and referral
fee provisions. It
consists of the following sections:
Eliminate Kickbacks and Referral Fees
Common RESPA Violations
RESPA Chapter 3: Chapter Three 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 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
Advertising Rules
Trigger Terms
Required Disclosures
TILA Chapter 2: Chapter Two covers disclosure and the right to
cancel. It consists of the
following sections:
Disclosure Requirements
Early Disclosures
High-Cost Loans
Additional Disclosures
Higher-priced Loans
TILA Chapter 3: Chapter Three covers loan officer compensation. It
consists of the following
sections:
Other Compensation Issues
Safe Harbor
Presenting Loan Options
TILA 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 through the internal email system.
This assignment must be completed and submitted by midnight MT on
the date indicated in
the course schedule.
SAFE Part Three: Industry Basics
Industry Chapter 1: Chapter One reviews the structure of the
mortgage industry. It consists of
the following sections:
The Primary Market
The Secondary Market
Secondary Market Transactions
The Capital Market
Industry Chapter 2: Chapter Two discusses the basic mortgage
categories. It consists of the
following sections:
Non-occupant Co-borrowers
Loan Process: Qualification Chapter 1: Chapter One covers
pre-qualification. It consists of the
following sections:
Loan Process: Qualification Chapter 2: Chapter Two explores file
documentation. It consists
of the following sections:
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 through the internal email
system.
This assignment must be completed and submitted by midnight MT on
the date indicated in
the course schedule.
Maryland Mortgage Law Chapter 1: Chapter One covers mortgage
regulatory agencies,
Mortgage Loan Originators
Maryland Mortgage Law Chapter 2: Chapter Two covers license law and
regulation for
mortgage lenders. It consists of the following sections:
Persons Required to be Licensed
Multiple Licenses
License Qualifications
The Application
Surety Bond
License Renewal
Maryland Mortgage Law Chapter 3: Chapter Three covers license law
and regulation for
mortgage loan originators. It consists of the following
sections:
Persons Required to be Licensed
The License
License Qualifications
Maryland Mortgage Law Chapter 4: Chapter Four covers compliance. It
consists of the
following sections:
Actual Expenses
Prohibited Fees
Agreements in Blank
Mortgage Fraud
Maryland Mortgage Law Chapter 5: Chapter Five covers disciplinary
action. It consists of the
following sections:
Fines and Penalties
Civil Liability
Criminal Liability
Attorney General
Enforcement Actions Case Study: The student will review three
mortgage lender enforcement
action cases. To complete the assignment, the student will write a
short review describing
what they have learned and what could have been done to avoid
disciplinary action.
This assignment must be completed and submitted by midnight MT on
the date indicated in
the course schedule.
Course Evaluation: Students will be allowed to give feedback
regarding the course.
Course Final: The student is required to take and pass a 125
question final exam with a score of
80% or higher. Once you have successfully passed your course final,
your course will be
complete.
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.