4 Hour AZ SAFE: State Law Pre-Licensing Education Course
This is an Arizona-specific classroom equivalent (CEQ) pre-licensing education elective course for new mortgage loan originators (MLOs). This course satisfies the 4 hour Arizona mortgage pre-licensure education requirement.
By the end of this course, learners will be able to:
- Define the role of the AZ-DFI.
- Restate key definitions.
- Relate requirements for initial licensure.
- Explain the requirements for license renewal.
- Define Inactive Status and identify its use.
- Understand the requirements for address changes.
- Discuss records and reporting requirements.
- Articulate the prohibited acts for mortgage loan originators licensed with the AZ-DFI.
- Understand the requirements for marketing and advertisements for MLOs as well as the requirements for mortgage brokers and bankers.
- Know the minimum loan amounts under Arizona Revised Statutes Title 6, Chapter 9, Articles 1 and 2.
- Describe the disclosure requirements under Arizona law
- Relate the requirements for escrow and trust accounts
- Redefine mortgage fraud and understand the different types
- Describe how a reverse mortgage works.
- Relate Arizona’s requirements for reverse mortgages.
- Understand the process for examinations and investigations.
- Discuss disciplinary and other actions.
- Relate the investigation process for violations and unsafe practices.
- Identify possible penalties for violations of Arizona state law.
Chapter 1: Licensing in AZ
Chapter 2: Compliance
Chapter 3: AZ Reverse Mortgage Statutes
Chapter 4: Disciplinary Action
