The content for this course is the same as course ID 7420 and is intended to satisfy CE requirements for 2018 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 7420 in 2019.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 one hour of elective education for loan originators. Annual S.A.F.E. Act continuing education requirements include three hours of federal law, two hours of ethics, two hours of nontraditional mortgage lending, and one hour of elective education.