8 Hour SAFE Core and Nevada Law 2024 MLO Package for Qualified Employees

1 Hour NV SAFE 2024 State Law Course for QE

This 1-hour course covers the state-specific regulations that govern Qualified Employees (QEs), residential mortgage loan originators, and others in the mortgage business in Nevada. Successful completion of this course satisfies the state-specific elective requirement for mortgage professionals toward the 8 hours of annual continuing education needed for license renewal. 

Required topics include important updates on the operation of mortgage companies and designation of QEs in Nevada, as well as: 

• Regulation of Mortgage Loan Originators
• Examinations and Audits
• Records, Financial Statements and Reports
• Net Worth Requirements
• Surety Bond Requirements
• Escrow and Trust Accounts
• Disclosures and Advertising
• Conditions and Limitations of Certain Mortgage Transactions
• Residential Mortgage Loans
• Enforcement
• Investigation of Violations and Unsafe Practices; Remedial Action
• Disciplinary and Other Actions
• Prohibited Acts; Penalties 

We’ll begin the first module with a look at state regulation and the Division of Mortgage Lending, followed by important definitions of the various Nevada mortgage industry professionals. Next, we explore regulations that affect mortgage companies, QEs, and MLOs, such as fiduciary duties; requirements for branch offices; net worth; examination and audit laws and rules; and statutes that govern the filing and maintenance of records, financial statements, and reports.  

In the second module, the course examines the latest information regarding other statutory requirements such as disclosure and advertising, laws relating to compliance and enforcement, as well as Division updates/announcements. The concluding sections address provisions that include the payment of child support and how noncompliance with child support obligations can impede a licensee’s authority.  

To promote comprehension, students will complete a 5-question quiz and short activity after each module. A 15-question final exam will wrap up the course.

7 Hour SAFE Core 2024 MLO CE Nevada

Every licensed and registered mortgage loan originator in Nevada must complete seven hours of standard annual renewal education. There are three modules, each concentrating on a major topic.

The first module examines the laws that impact mortgage loans and originators across the nation. It provides an overview of key legislation such as the SAFE Act, Regulation Z, and the Equal Credit Opportunity Act (ECOA). Learn more about the 10 common violations made by MLOs — these are selected by the Multi-State Mortgage Committee for the 2024 core continuing education classes.

Next, we examine ethics and consumer protection. The second module begins by discussing business ethics and financial professionals’ responsibilities. Then, you’ll learn about protection under the ECOA with an emphasis on fair lending practices. Lastly, it addresses mortgage fraud within Nevada's market and provides strategies for detection and prevention.

Module three covers non-traditional mortgage loans, and highlights the risks associated with alternatives to the 30-year fixed rate mortgage loan. Other topics include adjustable-rate mortgages (ARMs), reverse mortgages, high-cost and higher-priced mortgage loans, and counseling requirements and lending standards. You’ll also read about other loan options such as government programs and owner financing.