Reverse mortgages – especially FHA’s Home Equity Conversion Mortgage (HECM) program – have become a valuable financial services tool for aging homeowners who wish to use their home equity to finance their retirement years. Students who specialize in reverse mortgages should have a basic understanding of the history and congressional intent of the HECM program, recent and pending regulatory changes, and product options, such as HECM for Purchase. Because reverse mortgage specialists work with a protected class of American citizens, it’s equally important that we instill a sense of ethical behavior in students, and that they recognize the potential signs of elder abuse, so that they can better serve their aging clients.
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This course satisfies the 8-hr National requirement. In addition, individuals who complete the 8 Hour SAFE course will receive 8 credits toward the CRMP designation and fulfill the mandatory ethics workshop.
COURSE OUTLINE:
3 Hour SAFE CE Federal Law and Regulation
- Reg B
- Appraisal Requirements for HPML’s
- Reg Z
- Nationwide Cooperative Protocol for Mortgage Supervision
1 Hour SAFE CE Elective
- Process of Selling a Home with a Reverse Mortgage
- Reverse Mortgage short sales
- Mandatory Repairs and how they work
- Transition away from LIBOR
2 Hour SAFE CE Non-Traditional
- HECM for Purchase: What You Need to Know as an Originator
- Originating Reverse Mortgages For Retirement
2 Hour SAFE CE Ethics
- Definition of Ethics, Types of Financial Abuse, Common Scams and Fraud
- Fair Lending and applicable Federal Laws
- Ethical Refinancing Practices
- Assess Borrower Competency and potential signs of elder abuse
- Cross-selling Restrictions
COURSE FORMAT:
- Live, Instructor-Led Online Webinar —
- Fully Interactive — Ability to Ask Questions to Instructor
- 8 Hours Total
- All Course Material Included
- CE Credits Uploaded directly into the NMLS System
WHO SHOULD ATTEND:
Any mortgage professional needing to satisfy their 8 hour continued education requirement who doesn’t want the same old boring material read straight from a book or slides.
HOW IT WORKS:
You need a Desktop or Laptop Computer, Internet, Webcam, Connection (DSL speed or higher), and Computer Speakers. First, NMLS requires we collect your signed rules of conduct form and photo id copy. Once we have that, you will be emailed your webinar access links. You’ll be able to log into the class up to 15 minutes before the class start time where you can ask questions to the instructor.
Once the class starts, you will hear the instructor through your computer speakers. You will also have the ability to ask questions during the webinar through the online chat feature located on the right-hand side of our online training platform.
SYSTEM REQUIREMENTS:
You will need the following: 1) a Computer, 2) Internet (DSL or higher) 3) Webcam and 4) Computer Speakers. Please check beforehand to make sure these items are working properly. Note: dial-up internet connection will not work and wireless internet must have a full signal.
*NMLS does not allow the use of mobile phones or iPads.
***Please note NMLS is requiring webcams for all webinar courses in 2023. You must be on a webcam to receive course credit.
FEES:
NMLS charges $1.50 per credit hour to upload CE credits. You will not be charged additionally for this as this fee is already factored into the cost of the course.
INSTRUCTORS:
We have several instructors who teach our CE webinar course. Each have extended experience in the business, have taught our courses in the past, and receive high feedback on our evaluation forms.
GRADUATION:
Upon successful course completion, your CE credits will be posted with NMLS within TWO business days.
REGISTRATION DEADLINE:
There is no deadline, but we recommend you don’t wait until the last minute so that you have enough time to get the proper links and instructions so that you are prepared to go when the classes start!
