3 Hour PA SAFE: Pennsylvania State Elective
This is a Pennsylvania-specific classroom equivalent (CEQ) pre-licensing education elective course for new mortgage loan originators (MLOs). This course satisfies the 3 hour Pennsylvania mortgage pre-licensure education requirement.
By the end of this course, learners will be able to:
- Discuss the responsibilities and limitations of the PA-DOB
- Understand the structure of the PA-DOB
- Restate critical definitions, including MLO
- Identify whose exempt from licensure
- Relate the application and renewal process, including reasons for denial
- Describe required notifications, as well as recordkeeping and reporting requirements
- Understand what constitutes prohibited conduct
- Restate what is considered required conduct
- Describe limitations on covered loans
- Identify requirements regarding advertising, fees and charges, disclosures, and agreements
- Discuss loan modification requirements
- Relate requirements dealing with reverse mortgages
- Understand the disciplinary action procedures, including notifications, hearings, and the appeal process
- Restate the reasons that a license can be suspended, revoked, or rescinded
- Identify applicable penalties and fines
- Understand civil and criminal liability
Chapter 1: Licensing Law & Regulation
Chapter 2: Compliance & Disciplinary Action
