Jim Montrym s National Loan Originator School PO Box Tampa, FL Phone:

Transcription

1 2554: 8 Hour SAFE Comprehensive: CE Date: / /2011 Time: PM Instructor: Jim Montrym Jim Montrym s National Loan Originator School PO Box Tampa, FL Phone: Office Hours: M-F 9AM-5PM Broker009@brokerschool.com Instructor Background: 23 years of mortgage instructor experience Proven communication skills both oral and written Developed interpersonal skills Ability to achieve immediate and long-term goals and meet operational deadlines PROFESSIONAL EXPERIENCE Florida Mortgage Broker School November 1990 to Present Owner Instructor for 24 hour pre-license class Continuing Education Course for Florida, Indiana, Pennsylvania, and South Carolina Hire, train, and manage Instructors Marketing Write and evaluate course materials for both the licensing course and continuing education courses Bert Rodgers School of Real Estate June 1987 to December 1989 Operations Manager for $5,000,000 per year business Instructor for Real Estate License Course Hired and trained school instructors Managed Office personnel Marketing Wrote and evaluated course materials

2 Course Description: 8 Hour Mortgage Loan Originator SAFE Comprehensive Continuing Education. This course will cover the following as required by the SAFE Act: 3 Hour Federal Mortgage Related Laws 2 Hour Ethics, which includes instruction on fraud activity, detection, and reporting 2 Hour Non-Traditional Mortgage Lending 1 Hour Elective: Mortgage Loan Originator Responsibilities ~ Anti-Steering / Safe Harbor Requirements & Disclosure ~Mortgage Loan Originator Compensation ~NMLS Call Report Course Objectives: Meet 8 hour comprehensive continuing education requirement Education on federal laws and regulations Understanding principals and practices of the mortgage industry Stress the importance of fraud detection, prevention, and reporting Understanding of Non-traditional mortgage products, particularly the various programs available to assist in lending in a struggling real estate environment Encourage understanding of ethics in preventing fraudulent activities How to complete Anti-Steering Disclosure What will qualify as MLO Compensation How to complete the NMLS Mortgage Call Report It is our goal to educate, through relevant and timely information, today s mortgage professionals so that they are aware and capable of providing suitable and affordable mortgage options to their borrowers along with the knowledge of how to originate and process mortgages legally and ethically to prevent a repeat of the issues that contributed to the recent meltdown in the mortgage industry. Required Text and other Material: A manual will be provided both through attachment 2 days prior to scheduled class and as a link included in the Webex invite received by all students to join the class. May either be printed (suggested as the instructor likes to have students take notes as he instructs) or it can be viewed on the desktop while viewing the internet class.

3 Completion Expectations: Requirements for Completion Attendance Requirements: For those taking the class via internet there will be periodic attendance polls (hourly), questions randomly throughout the course that students will be asked to Chat in responses, and end of course survey. Failure to answer these polls, questions, and survey will indicate to the course facilitator that you are not present and will result in failure to complete and the course certificate of completion will not be issued until the missed segments are completed this can only be done by attending a later class. Policies on Class Behavior: We ask that the students behave and interact with the instructor and other students in a professional and respectful manner. Comments and questions are encouraged but must by on topic during class. However, students are welcome to or call with any additional questions. Disqualification occurs if student is absent more than 15 minutes (late or leave early) during the course. The course consists of 3 modules which are listed below with a description of each module. There are also learning objectives for each module, teaching methods and an estimated time of completion. In order to receive a Certificate of Completion the student must complete the entire 7 8 hours. This will be monitored by random attendance polls and questions throughout the course. These polls are required to be completed in order to receive the 7 8 hour NMLS credit. A wrong answer does not disqualify the student but NOT answering the polls at all will result in not receiving the course credit. There will be a quiz at the end of each section. The intention of these exams is simply to provide the student with a method of measurement of their mastery of the course topics. This is not a Pass/Fail course. The quiz given at the end of each section is intended to assist the students with monitoring their grasp of the topics and they are encouraged to ask questions for clarification if needed. The instructor also requests class participation during class through the Chat method. He will ask the students questions on topic and request that they Chat the responses in. This helps the instructor gauge if the class is retaining the information as he instructs the class. This is again is not Pass/Fail but keeps the class interactive and therefore more engaging for both the students and the instructor. ALL 3 modules invite class participation.

4 *DISCLAIMER: The regulatory issues covered in the course are very complex and still subject to additional regulatory hearings and that the course is not all-inclusive of the stator requirements. Student should consult the statutes and regulations for a full review of the requirements. Course Name: 8 Hour SAFE Core: Continuing Education Teaching Methods Segment Time (minutes) 3 Hours Federal Law: Frank-Dodd Act and it s impact on the Mortgage Industry: 10 minutes Purpose of the Act 10 minutes New agencies created: purpose and structure 15 minutes Enforcement agency (Consumer Financial Protection Bureau) structure and powers 25 minutes Key Provisions of the Act 45 minutes Changes to current mortgage laws 30 minutes New mortgage specific requirements 15 minutes Quiz (15 Questions) Total Instruction Time = 150 Minutes (10 Minute Break after each 50 minutes of instruction) = minutes = 180 minutes/3 hours 2 hours Non-Traditional Mortgage Lending: 20 minutes Description of Non-Traditional Lending 35 minutes Non-Traditional Lending products available to NEW homebuyers and to current homeowner s in distress (focus on FHA products) 35 minutes Brief coverage of subprime products and how these products contributed to the mortgage industry collapse 10 minutes Quiz (10 Questions) Total Instruction Time = 100 Minutes (10 Minute Break after each 50 minutes of instruction) = minutes = 120 minutes/2 hours 2 hours Ethics (includes instruction on fraudulent activity, detection, and reporting): 10 minutes Ethics definition and importance 15 minutes Detection and Penalties for mortgage Fraud 40 minutes Types of mortgage fraud. 15 minutes Mortgage professions that may contribute to fraud along with MLO 20 minutes Prevention of mortgage fraud Total Instruction Time = 100 Minutes (10 Minute Break after each 50 minutes of instruction) = minutes = 120 minutes/2 hours

5 1 Hour Mortgage Loan Originator Responsibilities: 20minutes Anti-Steering / Safe Harbor 10 minutes Mortgage Loan Originator Compensation 15 minutes NMLS Mortgage Call Report 10 minutes Quiz (10 questions) 5 minutes End of Course Survey Total Instruction Time = 60 Minutes TOTAL Course Time: 8 Hours