Individual Continuing Education Online Course; NMLS Course Number: 7400

$60.00

NMLS banking fees included with your AllRegs SAFE Act Training registration.

The state of Rhode Island has established specific criteria for course providers as a condition for NMLS course approval. This course meets the content standards by including information about the Rhode Island Home Loan Protection Act, including prohibited practices and high-cost loans, as well as new information about community obligations and banking offenses.

NMLS 7400

Please note that the SAFE Act specifically prohibits the taking of the same course in successive years.

Course Topics/ Outline

Module 1 – Rhode Island Home Loan Protection Act

  • Introduction to the Home Loan Protection Act
  • Applicability
  • Prohibited Practices
    • Financing Insurance or Other Payments
    • Flipping Loans
    • Tangible Net Benefit: HLPA Form 3
    • Encouraging Default on a Loan
    • Loan Acceleration
    • Court Claims
    • Knowledge Check
    • Scenario: To Stop, or Not to Stop?
  • Rhode Island Home Loan Protection Act for High-Cost Loans
    • Financing Points and Fees
    • Prepayment Fees and Penalties
    • Scheduled Payments
    • Principal and Interest Accrual
    • Rate Increase After Default
    • Periodic Payments
    • Knowledge Check
    • Home Loan Counseling Requirement
    • Counseling Disclosure: HLPA Form 5
    • Ability to Repay
    • Home Improvement Contracts
    • Loan Change Fees
    • Late Payment Fees
    • Notice of High-Cost Loan Status
  • Penalties for Violations
  • Review
  • Module Quiz

Module 1 Activities
1A—Knowledge Checks
1B—Scenario
1C—Module Quiz. Participants must achieve a score of 70% or greater to advance in the course
Total running time approx. – 20:00 minutes

Module 2 – Community Obligations and Banking Offenses

  • Title Insurance
    • Lender Requirement for Title Attorneys
    • Waiver of Title Attorney and Insurance
    • Borrower Recourse for Title Services
    • Knowledge Check
  • Unlawful Housing Practices
    • Protected Status
    • Discriminatory Practices and Loans
    • Persons with Disabilities
    • Multifamily Building Guidelines for Accessibility
    • Accessibility in Multifamily Dwellings
    • Protections for Other Residents: Safety
    • Owner Occupants and Gender
    • Retaliation and Compliance
    • Knowledge Check
  • Case Study
  • Review
  • Module Quiz
  • Violations and Penalties

Module 2 Activities
2A—Knowledge Checks
2B—Case Study
2C—Module Quiz. Participants must achieve a score of 70% or greater to advance in the course
Total running time approx. – 20:00 minutes

Final Assessment: approx.. - 10 minutes

TARGET AUDIENCE

This course is designed for anyone who works in the mortgage industry seeking to learn or enhance their existing knowledge of Rhode Island mortgage lending laws. It is geared primarily for loan originators but contains crucial information on Rhode Island mortgage lending laws that will prove beneficial for job roles in operations and servicing.

COURSE DELIVERY

Each self-paced, self-study course examines a particular topic, allowing students to hone in on a focused set of learning concepts. Each course is designed with learning objectives, comprehensive course materials, learning reinforcement activities that appeal to various learning styles and real world examples, with audio and/or video recordings of industry experts.

The final exam is completed online with instant grading, and you can download your industry-recognized certificate of completion after you successfully pass the course. This course will take no less than one hour to complete.

TUITION & REGISTRATION

This course satisfies one-hour of NMLS-approved Continuing Education training in the state of Rhode Island. Tuition for this course is $60.00 and includes the Credit Banking and Admin Fee applicable to this course.

Students have 12 months from the registration date to complete the course. Upon successful completion of the course, students can download their industry-recognized certificate of completion and transcript.

NOTE: The SAFE Act specifically prohibits the taking of the same course in successive years.

For more information or to register by phone, call your Regional Account Executive at (800) 848-4904 or email sales@allregs.com.