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NMLS Course Provider ID #1400008
MORTGAGE ESSENTIALS
NMLS Course Approval ID 1146
Mortgage Essentials: Mortgage Essentials is an introductory class into the ABC’s of the Mortgage Process. You will go through what a Mortgage is and the history of Mortgage Lending. You will discuss the secondary market as well as what a mortgage broker does and who the other team players are. Learn what information is needed to be gathered and walk through filling out the Uniform Residential Loan Application. You will learn how to read a rate sheet and perform mortgage calculations. You will review the appraisal process (HVCC rules), title insurance, and all the required disclosures. You will obtain information on different types of mortgage programs including non-traditional program. You will go through federal mortgage laws including TIL, RESPA including the latest to the GFE and HUD-1, ECOA, HMDA, Fair Credit Reporting Act, and the S.A.F.E. Act just to name a few. You will learn how to watch out for fraud and maintain quality control so that you can perform your job responsibilities ethically.
This SAFE Comprehensive Course will fulfill 20 Hours of PE SAFE comprehensive credit. (Once this course is completed your PE hours will be uploaded to the NMLS system within 7 days. Be sure that your correct NMLS ID number is listed below so that your hours can be properly submitted.)
This MEF Course is Being Hosted by: Missouri Association of Mortgage Brokers
For more information regarding this session please contact:
MAMB Office - PHONE: 314-909-9747 or EMAIL - information@mamb.net
WHEN: Tuesday – Wednesday, March 23 - 24, 2010
WHERE: St. Louis Assn. of Realtors® Building
12777 Olive Blvd.
Lower Level Classroom
St. Louis, MO 63141
TIME: Check In – 7:30 AM
PROGRAM: 8:00 am to 6:00 pm
This 2-day course will have a working lunch.
Please bring your own or be prepared to order something in.
COST:
Members - $250 Members Early Bird Registration/$399 Nonmembers Early Bird Registration
After March 16 - $275 Members/$424 Nonmembers
(Cost INCLUDES Complete Student Manual, NAMB Certified MEF Approved Live-Classroom Instructor & All NMLS/CSBS Reporting Fees.)
NMLS reported that in August and September 2009 - 33% of all who attempted the National Exam FAILED!!!!
If you do not pass the NMLS test there is a 30 day mandatory waiting period before you may retake the test. If you do not pass on the fourth attempt, you must wait 6 months before you will be allowed to retake the test.
Remember ALL Missouri Mortgage Brokers and Loan Originators must have completed their 20-Hrs of Pre-Licensing Education and have passed the National and Missouri Exams by July 31, 2010 or they will be unable to originate mortgages.
DO NOT DELAY - Testing Centers will be FULL and Required Classes will be LIMITED as the deadline for compliance becomes closer.
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