3 Hour NY SAFE 2024 State Law Course

This 3-hour course on New York laws, rules, and regulations fulfills the state elective requirement for license renewal. State-licensed mortgage loan originators in New York must take 11 hours of continuing education each year, including the following 8 credit hours: 3 hours of Federal law, 2 hours of ethics, 2 hours of non-traditional mortgage lending, and 1 hour of elective content.  

This course begins with a review of the regulatory framework for MLOs that has developed since New York State passed the Home Equity Theft Prevention Act (HETPA) followed by the federal SAFE Act of 2008. The first module in this class also covers Temporary Authority and Surety Bond requirements in New York. 

The second module begins by addressing recent NYS developments including recent changes to the HETPA law and how reverse mortgages are processed in the state. The bulk of the second module is devoted to a wide-ranging, engaging look at investigative and enforcement efforts by the NY Department of Financial Services (DFS). The course concludes with an examination of the latest DFS Consumer Protection and Financial Enforcement Report. 

To promote comprehension, students will complete a 5-question quiz and short activity based on real-world examples after each module. A 25-question final exam will wrap up the course.