SAFE Act

Secure and Fair Enforcement Act

• MLO
• Independent contractors

• federal law and regulations 3 hrs
• ethics 3 hrs
• nontraditional mortgage products, which the SAFE Act defines as anything other than 30 yr fixed rate loan 2 hrs
• elective topics 12 hours

• 24-25% federal mortgage related laws
• 19-20% general mortgage knowledge
• 19-20% mortgage loan origination activities
• 14-15% ethics
• 20-22% UST

must complete 8 hours annually

• 3 hrs federal mortgage related laws
• 2 hrs ethics, including fraud, consumer protection and fair lending
• 2 hrs non traditional mortgage products
• 1 hr elective

• current outstanding judgments, except judgments solely as a result of medical expenses
• current outstanding tax liens or other government liens and filings
• foreclosures within the past 3 years
• a patter or seriously delinquent accoutns within the past 3 yrs