Late CE: 1 Hour NM SAFE Mortgage Matters in New Mexico (6676)

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1 Credit Hour


The content for this course is the same as course ID 6676 and is intended to satisfy CE requirements for 2017 or the last year a mortgage loan originator held an active license. Mortgage loan originators who take this Late CE course are prohibited from taking course ID 6676 in 2018.This course will focus on the laws and rules that regulate mortgage loan originators doing business in New Mexico. In Module 1, students will examine the authority of the New Mexico Financial Institutions Division and required conduct for mortgage licensees, including duties related to assessing borrower repayment ability and responsibilities of qualified managers. In Module 2, students will review prohibited practices for licensees under both the Mortgage Loan Originator Licensing Act and the Mortgage Loan Company Act. Students will also take a look at disciplinary action which may be taken when a licensee violates the law.This course satisfies the one-hour New Mexico-specific continuing education requirement for loan originators, as specified by New Mexico law. In addition to one hour of New Mexico-specific education, annual S.A.F.E. Act continuing education requirements include three hours of federal law, two hours of ethics, and two hours of nontraditional mortgage lending.

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