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.
3 Hour SAFE CE Federal Law and Regulation
- Intro to Multistate Mortgage Committee
- Regulation B
- Regulation X
- E-sign Act
- Closing Disclosure
- Regulation Z
- Regulation P
- Ability-To-Repay requirements
1 Hour SAFE CE Elective
2 Hour SAFE CE Non-Traditional
- History of reverse mortgages & key moments in the HECM program
- Principal Limit Factors & Expected Interest Rate
- LIBOR Index
- Process of Assigning HECM Reverse Mortgages to HUD
- HECM Repayment Process
- Proprietary Reverse Mortgages
2 Hour SAFE CE Ethics
- Code of Ethics adopted by NRMLA
- Gramm-Leach-Billey privacy requirements
- Ethical refinancing practices
- Assessing client’s needs
- Cross-selling restrictions
- 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 Computer, Internet, Connection (DSL speed or higher), and Computer Speakers. Each day of class you will be emailed an invitation with your own log-in/ password. From here you can click the link, enter your password, and download, print, or save that day’s course materials. You’ll be able to log into the class up to ½ hour 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.
You will need the following: 1) a Computer, 2) Internet (DSL or higher) and 3) 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.
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.
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.
Upon successful course completion, your CE credits will be posted with NMLS within TWO business days.
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!