Mortgage CE Class Descriptions

All mortgage licensees MUST complete continuing education whether your license is on active or inactive status.  Please see the table below for the requirements.

Class Descriptions:

Closing Process - (2 hours)
There is so much that goes into closing and this class is going to go over all aspects of the process.  It will cover settlement and the mortgage originator duties prior to and during the closing.  Title insurance; evidence of indebtedness on real property and post-closing issues will also be discussed.

Consumer Protection - Law Core (2 hours)
There are many laws and regulations that are in place to protect consumers regarding mortgage lending.  This class will discuss the Federal Consumer Credit Protection Act; Truth in Lending Act; APR; Disclosure for an ARM; the 72-hour right of rescission; consumer advertising; Fair Housing Act; the Equal Credit Opportunity Act; Home Mortgage Disclosure Act; Fair Credit Reporting Act and more!

Mortgage Markets (2 hours)
This course goes over the differences between Primary and Secondary Mortgage Markets.  It will also go over capital mortgage market functions, Deposit Insurance Entities and other agencies and institutions.  We will go over different mortgage loan categories as well.

Mortgage Products (2 hours)
What are the different components of loan payments and what are the different mortgage repayment methods?  This class will delve into these questions as well as the difference between fixed-rate and adjustable rate mortgages.  You will also learn about other types of mortgages, retail mortgage pricing and lender fees.
 
Mortgage Professionals & Ethics - Ethics Core (2 hours)
This class satisfies the ethics core requirement for continuing education and will talk about the written standard of ethical conduct put together by the Division.

Originator Licensing - Law Core (2 hours)
The Utah Division of Real Estate ("Division") is responsible for governing all mortgage licensees in the State of Utah.  This course lays out the general procedure of licensure and its maintenance including notifications to the Division.

Professional Practices - (2 hours)
It is important for mortgage originators to have some knowledge of the Real Estate Purchase Contract (REPC) and this class will give an introduction to this contract.  This class also discusses double contracts; forms of real estate ownership; common forms of business ownership; liens and other restrictions; appraisers and appraisal reports; fair market value; and approaches to valuation.

Residential Mortgage Application Process - (2 hours)
This course will discuss in detail the Four C's of the qualifying process.  It will also cover the Uniform Residential Loan Application, compliance disclosures and assembling, verifying and evaluating applicant information. 

Residential Mortgage Underwriting - (2 hours)
Loan fraud is statistically more likely when a seller plans to "flip" (sell soon after purchase) their property so the FHA and most other lenders have become very cautious when financing these types of properties.  This course will discuss the FHA insured loan guidelines as well as guidelines for loans guaranteed by the Department of Veterans Affairs, Fannie Mae, and Freddie Mac.  It will also cover different types of insurance.

RESPA & Loan Fraud - Law Core (2 hours)
What do you know about the Real Estate Settlement Procedures Act?  This class will discuss it in more detail as well as the Good Faith Estimate; Buying Your Home, Settlement Costs and Helpful Information; escrow account regulation and the settlement statement.  It will also cover loan servicing, indicators and consequences of loan fraud.