8 Hour SAFE Comprehensive 2024 MLO Course Michigan
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8 Hour Course
- $89.00
In Michigan, licensed and registered mortgage loan originators (MLOs) must complete eight hours of standard annual renewal education. Our training includes four modules, each focusing on an important topic.
With a focus on Michigan-specific content, the first module describes laws and regulations that affect mortgage loans and MLOs. We review the SAFE Act, Regulation Z, and the Equal Credit Opportunity Act (ECOA). The focus is on 10 common violations highlighted by the Multi-State Mortgage Committee as mandatory topics for the 2024 core continuing education classes.
Module two emphasizes ethics and consumer protection, starting with the responsibilities of financial professionals. This segues into consumer protection, especially under the ECOA, and why fair lending practices matter. This module wraps up with mortgage fraud in the United States and techniques for spotting and stopping lending schemes.
The third module explores non-traditional mortgage options and their associated risks compared to the 30-year fixed-rate mortgage loan. We'll cover adjustable-rate mortgages (ARMs), reverse mortgages, high-cost loans, counseling requirements, and information on lending standards. You’ll also learn about other loan options, such as government programs and owner financing.
Lastly, the fourth module defines renovation mortgage loans and their uses. The focus is on Fannie Mae HomeStyle® and FHA 203(k) renovation loans.
Show Course ID: 1
- Course ID(s): 16204
- Approved By: NMLS
Instructor Bio
![sheri wytcherley real estate atyourpaceonline](/assets/img/themeimg.php?mod=instructor&image=sheri-wytcherley-real-estate-instructor.jpg)
Sheri Wytcherley is the instructor for many of our real estate courses. She is a chart-topping principal broker and has been a passionate real estate educator since 2012. See more details about Sheri's background here.