3 Hour TX-SML SAFE: Texas State Law
This is a Texas-SML-specific classroom equivalent (CEQ) pre-licensing education elective course for new mortgage loan originators (MLOs). This course satisfies the 3 hour Texas-SML mortgage pre-licensure education requirement.
By the end of this course, learners will be able to:
- Restate the key definitions with relation to TX Home Equity loans
- Discuss the requirements under TX law related to Home Equity loans
- Restate key definitions with relation to TX reverse mortgage law
- Identify the requirements under TX law regarding reverse mortgages
- Restate the requirement for judicial foreclosure
- Identify the steps for non-judicial foreclosures
- Describe the effects of these two types of foreclosure and consumers in TX
- Restate the requirements for advertising in TX
- Identify the examination procedures in TX
- Describe the requirements on the mortgage transaction logs and the contents of a loan file
- Discuss consumer protection areas and required disclosures
- Relate the requirements for approval letters
- Understand the enforcement procedures in TX
Chapter 1: TX Home Equity Loan Law
Chapter 2: TX Reverse Mortgage Law
Chapter 3: Judicial v. Non-Judicial Foreclosure
Chapter 4: TX Savings and Mortgage Lending Department
