Mortgage Training Today is presenting an Interactive Webinar covering the S.A.F.E. Act and the changes to RESPA, including the new Good Faith Estimate and HUD 1 that are effective January 1, 2010.
 
The price is $50.00, and will be credited toward any classes taken with Mortgage Training Today in 2010.
 
Available at 1:00 pm on Tuesday November 10th or Monday November 16th.
 

This webinar is interactive. Questions and comments will be welcomed!


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S.A.F.E. Act:

Effective Now!!
Per the S.A.F.E. Mortgage Licensing Act, all states must implement a Mortgage Loan Originator (MLO) licensing process that meets certain standards through the Nationwide Mortgage Licensing System & Registry (NMLS). 


How does the S.A.F.E. Act affects you?

ALL Mortgage Loan Originators will need to do the following:
 
*  Complete 20 hours of National Mortgage Licensing System (NMLS) approved eduction.
*  Pass a Test with a minimum score of 75% at a Pearson Vue or Prometric testing site.

(These requirements apply to all Loan Originators, no one is grandfathered!!)

 
Note:  Wisconsin Originators that expire in 2010 will have to complete 16 hours of CE to renew their license along with 20 hours of required NMLS education to be licensed in 2011.  All requirements will be covered in the Webinar.

RESPA Reform:

Effective January 1, 2010
You will have to use a new Good Faith Estimate and HUD1.

The GFE will now be a standardized form, the same for all lenders.
The HUD1 has been revised to include the changes made to the GFE.
 
The Webinar will cover all of the facets of the new GFE and HUD1.

Become familiar with the forms before you have to use them and explain them to your borrowers!


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