1 Hour SAFE Elective: Reviewing the Rules for HELOC Originations (OSP)

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$39.00
1 Credit Hour

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A home equity line of credit (HELOC) is an open-end home equity loan which allows consumers to obtain mortgage credit based on the equity in their home and to draw cash from the credit line up to an established limit. HELOCs are subject to a distinct set of rules, and they have unique features which set them apart from closed-end mortgages. This course will review the characteristics of a HELOC, as well as the regulatory requirements for originating them.This course satisfies the one-hour elective continuing education requirement for loan originators, as specified by the federal S.A.F.E. Mortgage Licensing Act.

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