Syllabus Safe 20 Hour Idaho Comprehensive

7/28/2019 Syllabus Safe 20 Hour Idaho Comprehensive

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20 Hour Mortgage Loan Originator Idaho SAFE Comprehensive Course

Course Syllabus -- 7 Day

(14 Day Schedule included at the bottom of this document)

Welcome to our Idaho SAFE Comprehensive Course. We are excited to assist you in furtheringor beginning your mortgage career and are pleased you chose Praedo Institute to satisfy your

education requirements.

Course Purpose

This course is meant to satisfy the 20 hour SAFE education requirement for mortgage loan

originator licensure for the state of Idaho. This course will also prepare you for the National

Component of the SAFE Mortgage Loan Originator including the UST portion of the SAFE exam.

Course DescriptionAlong with the 18 hours of SAFE required education, this course includes 2 hours of Idaho Law

as well as information related to loan qualification and the loan process. This course satisfies

the Idaho SAFE requirement. Included in this course are: discussion forums, interactive content,

practice questions, and live instructor support.

Course Dates and Times

This course begins on Tuesday at 8:00am mountain time and must be completed by midnight

on the session end date.

Instructor Contact Information

Once you register for the course, you will receive an email from the instructor assigned to your

course. The email will introduce your instructor as well as explain contact methods and

expected response times. All of our instructors are required to respond to student questions

within one business day of the receipt of your question. Your instructors personal email will be

included in the introduction email.

Course Objectives

Each of the individual modules in this course include learning objectives applicable to theindividual module itself. Our course is meant to give you an introduction to the mortgage

industry. Upon completing this course, you should be able to do the following:

Define basic mortgage terms; Perform mathematical calculations common to the mortgage industry; Explain certain mortgage concepts to potential borrowers; Comply with applicable federal laws related to the mortgage industry.


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You should also be able to pass the National component of the SAFE Mortgage Loanincluding the UST portion of the SAFE exam.

Grading Policy

Most of the sections in this course consist of slides mixed with comprehension questions. Eachchapter includes a chapter quiz, and most sections include a course final. You may view the

slides at your own pace, but you must answer all of the comprehension questions correctly and

score 80 percent on all quizzes to receive credit for the course. You must also pass the course

section final exams with a score of 80 percent in order to receive credit for the course. Please

remember, your course does include a completion deadline.

Several of the modules also include case studies, which involve the completion of a certain

project. The details for the individual case studies are found in the course.

Our course also includes 8-10 learning activities. In each of the learning activities, you will be

required to either post comments on our discussion forum or email an assignment to your

instructor for grading. Instructions for the learning activities are included in the course.

Your course consists of four parts. At the end of each part, you will be required to submit an

assignment to your instructor. Your instructor will grade your assignment within one business

day of assignment submission. Once your instructor grades the assignment, your instructor will

allow you access to the next part of your course. The instructor reserves the right to delay your

advancement to the next part in the event you are progressing substantially faster than the

other students in that part.

Course Policies

Each student is required to submit an Identity Affidavit. By confirming this attestation, the

student certifies that the course work was or will be completed by the person for whom the

certificate will be issued. The student further certifies that they did or will not receive any

assistance in completing the course. The submission of a completion certificate for a course

they did not complete themselves may constitute fraud on the students part and is subject to

prosecution and/or discipline.

Technical Support

As our course is entirely online, we do offer live technical support via telephone, email, and

chat from 8:30am to 5:00pm mountain time on regular business days. After hours, holiday,

and weekend support is available 365 days a year via email from 9:00am to 10:00pm mountain

time. Our telephone number is 801-492-9933 and the support email [email protected].
mailto:[email protected]:[email protected]


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Identity Theft Case Study: The student will review information on the Federal Trade

Commission's web site and answer related questions.

Learning Activity Identity Theft: After reviewing the information from the case study, the

student will follow instructions to post remarks on the discussion forum.

Fair Lending & Housing Chapter 1: Chapter One covers the Fair Housing Act, the Equal Credit

Opportunity Act, and the Home Mortgage Disclosure Act. It consists of the following sections:

Fair Housing Act Equal Credit Opportunity Act Home Mortgage Disclosure Act

Fair Lending & Housing Chapter 2: Chapter Two covers the Fair Credit Reporting Act and the

Fair and Accurate Credit Transaction Act. It consists of the following sections:

Fair Credit Reporting Act

Fair and Accurate Credit Transaction ActFair Lending & Housing Chapter 3: Chapter Three covers the governmental agencies who

participate in regulating the mortgage industry. It consists of the following sections:

Role of the Federal Reserve Role of the Federal Trade Commission Role of the Department of Housing and Urban Developments

Hud Case Study: The student will review information on the HUD web site and answer related

questions with regard to Fair Housing.

Learning Activity Fair Housing: After completing the HUD case study, the student will follow

instructions to post a scenario on the discussion forum.

Loan Fraud & Ethics Chapter 1: Chapter One will introduce you to the definition of loan fraud

and different types of loan fraud. It consists of the following sections:

Introduction to Loan Fraud Definition of Loan Fraud Consequences of Loan Fraud Types of Fraud

Loan Fraud and Ethics Chapter 2: Chapter Two will review popular loan fraud schemes and

loan fraud statistics. This chapter also discusses ways to detect fraud and licensee obligations

when it comes to loan fraud. It consists of the following sections:


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Common Loan Fraud Schemes Short Sale Fraud MARI Fraud Index

Loan Fraud Case Study: The student will review information on the FBI's web site and answerrelated questions with regard to fraud.

Learning Activity Loan Fraud & Ethics: The student will search the Internet for two examples of

loan fraud and report their findings to their instructor.

SAFE Part Two: Federal Law (5 Hours)

Non-Traditional Mortgage Products Chapter 1: Chapter One introduces the student to non-

traditional mortgage products. It consists of the following sections: Introduction to the Industry Definition of the Industry Product Overviews

Non-Traditional Mortgage Products Chapter 2: Chapter Two covers federal guidance of the

non-traditional mortgage industry. It consists of the following sections:

Interagency Guidance on Nontraditional Mortgage Product Risks Loan Terms and Underwriting Standards Portfolio and Risk Management Practices Consumer Protection Issues Statement on Sub-prime Mortgage Lending Predatory Lending Prepayment Penalties Reduced Documentation Payment Shock Workout Arrangements Consumer Protection Principles

RESPA Chapter 1: Chapter One introduces RESPAs provisions regarding disclosure of costs and

record keeping. It consists of the following sections:

Purposes of the Real Estate Settlement Procedures Act Scope of RESPA Exempt Transactions Definitions


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Advance Disclosure of Costs - Good Faith EstimateRESPA Chapter 2: Chapter Two explains RESPAs kickback and referral fee provisions. It

consists of the following sections:

Eliminate Kickbacks and Referral Fees

Common RESPA ViolationsRESPA Chapter 3: Chapter Three covers affiliated business arrangements and servicing

requirements set forth in RESPA. It consists of the following sections:

Affiliated Business Arrangements Servicing Issues

Learning Activity RESPA: The student will follow the instructions to post a comment on the

discussion forum regarding RESPA.

TILA Chapter 1: Chapter One introduces the Truth in Lending Act and includes definitions aswell as information on APR and advertising. It consists of the following sections:

Definitions Annual Percentage Rate Advertising Rules Trigger Terms Required Disclosures

TILA Chapter 2: Chapter Two covers disclosure and the right to cancel. It consists of the

following sections:

Disclosure Requirements Early Disclosures Early Disclosure and Closing Collecting Fees Changes During the Transaction Right of Rescission High-Cost Loans Additional Disclosures Higher-priced Loans

TILA Chapter 3: Chapter Three covers loan officer compensation. It consists of the following

sections:

LO Compensation Rule Payments Based on Transaction Terms Reducing LO Compensation on a Transaction Other Compensation Issues


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Final Rule and Official Staff Commentary Safe Harbor Presenting Loan Options

TILA Chapter 4: Chapter Four Covers the ability to repay and QM rule. It consists of the

following section: Ability to Repay and QM Rule

Learning Activity TILA: The student will follow the instructions to search the Internet to find

mortgage ads which include trigger terms. They will complete an assignment and submit it to

their instructor.

SAFE Part Three: Industry Basics (4 Hours)

Industry Chapter 1: Chapter One reviews the structure of the mortgage industry. It consists ofthe following sections:

Structure of the Mortgage Industry The Primary Market The Secondary Market Mortgage Brokers Mortgage Lenders/Bankers Secondary Market Transactions The Capital Market

Industry Chapter 2: Chapter Two discusses the basic mortgage categories. It consists of thefollowing sections:

Mortgage Industry Overview Purchase Transactions Rate/Term Refinance Cash-Out Refinance Mortgage Categories Conventional/Conforming FHA - Federal Housing Administration Advantages of FHA Lending Higher Debt to Income Ratios Non-occupant Co-borrowers Disadvantages of FHA Lending VA Loans Rural Housing


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Construction Loans Jumbo/Non-Conforming Second Mortgage/HELOC Reverse Equity/HECM

Loan Process: Qualification Chapter 1: Chapter One covers pre-qualification. It consists of the

following sections:

Pre-qualification Down Payment Income Debts Credit

Loan Process: Qualification Chapter 2: Chapter Two explores file documentation. It consists

of the following sections: Assembling the File Income Documentation Acceptable Assets

Loan Process: Qualification Chapter 3: Chapter Three reviews credit reports. It consists of the

following sections:

Credit Reports Credit Scores

FICO Scores Case Study: The student will review credit scores and answer questions related toFICO.

Learning Activity Credit Report: The student will follow the instructions to post a comment on

the discussion forum regarding credit scores.

Learning Activity Loan Process: Qualification: The student will complete an assignment based

on qualification calculations and submit their work to their instructor.

SAFE Part Four: Loan Process Part II & Idaho Law (4 Hours)

Loan Process: Part II Chapter 1: Chapter One covers mortgage products. It consists of the

following sections:

Fixed Rate Mortgages Adjustable Rate Mortgages


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Balloons HELOC - Home Equity Line of Credit Reverse Mortgages

Loan Process: Part II Chapter 2: Chapter Two covers appraisals. It consists of the following

sections: Types of appraisals Cost Approach Income Approach Market Approach

Loan Process: Part II Chapter 3: Chapter Three covers the closing process. It consists of the

following sections:

Hazard Insurance Flood Insurance Mortgage Insurance Dropping Mortgage Insurance Title, Escrow and Closing Mortgages, Notes and Liens Title Insurance Policies

Learning Activity Loan Process: Part II: The student will review the types of loan products

discussed and follow the instructions to post a comment on the discussion forum and respond

to another student's post.

Idaho Mortgage Law Chapter 1: Chapter One covers the Residential Mortgage Practices Act. It


Licensing Law IntroductionRule vs. Law Who is covered? Department of Finance Mortgage Recovery Fund

Idaho Mortgage Law Chapter 2: Chapter Two covers individual licensing requirements. It


Loan Originator Requirements: Definitions Scope of licensing requirements License application requirements


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Education and testing requirements License renewal Enforcement

Idaho Mortgage Law Chapter 3: Chapter Three covers entity licensing and other industry

restrictions. It consists of the following sections:

Lender/Broker Licensing: Prohibited practices Idaho Financial Fraud Prevention Act

Enforcement Actions Case Study: The student will review newsletters posted on the

Department of Finance's web site. To complete the assignment, the student will write a short

review about four different disciplinary actions described in the newsletter. They will explain

what they have learned from the newsletter examples and what could have been done for the

individuals to avoid disciplinary action.

The student will submit their completed assignment to their instructor for grading.

Course Final: 100 question course final covering all of the material in the course.

Course Evaluation: Students will be allowed to give feedback regarding the course.

Course Schedule

This course consists of the four parts outlined below. The requirements for each part are listedwith the approximate time needed to complete each learning module. The scheduled days are

approximate as well, you are not required to follow the prescribed outline, but doing so would

allow you to complete the course in the allotted time frame. This course meets the minimum

time requirement of 50 seat minutes for each clock hour the course is approved. This course

is approved as a 20 hour course and must be completed in its entirety in order for you to

receive credit.

Good Luck

Once again, thank you for choosing Praedo Institute. Your success is extremely important to us.Please let us know if we can be of any assistance at any time. Enjoy the course!


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Course Outline and Schedule - 7 Day

Schedule Topics and Activities Reading Due Assignments DueInstruction Time

Allocation (in minutes)

Day 1

SAFE 20 Hour Pre-

licensing Course

Introduction

Introduction andSyllabus

Submit OnlineAffidavit

10

SAFE Part One:

Consumer

Protection

Learning Activity

Welcome

Learning Activity

Instructions

Post an introduction

on the Discussion

Forum

10

Consumer Protection Chapters 1, 2, & 3Complete Chapter

Quizzes and Test100

Learning Activity

Consumer Protection

Learning Activity

Instructions

Post Information

regarding consumer

protection on theDiscussion Forum

10

Identity Theft Case

Study

Review information

on FTC's websiteComplete Quiz 10

Learning Activity

Identity Theft

Review information

on FTC's website

Post remarks on the

Discussion Forum10

Day 2

Fair Lending &

HousingChapters 1, 2, & 3

Complete Chapter

Quizzes and Test100

HUD Case StudyReview information

on HUD's websiteComplete Quiz 10

Learning Activity FairHousing Review informationon HUD's website

Post a scenario on

the DiscussionForum

10

Loan Fraud & Ethics Chapters 1 & 2Complete Chapter

Quizzes and Test95

Loan Fraud Case

Study

Review Information

on FBI's websiteComplete Quiz 10

Learning Activity

Loan Fraud & Ethics

Internet search for

loan fraud examples

Report findings to

instructor15

Day 3

SAFE Part Two:

Federal Law

Non-traditional

Mortgage Products

Chapters 1 & 2Complete Chapter

Quizzes and Test100

RESPA Chapters 1, 2, & 3Complete Chapter

Quizzes and Test100

Learning Activity

RESPAN/A

Post a comment on

the Discussion

Forum regarding

RESPA

10


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Day 4

TILA Chapters 1, 2, 3, & 4Complete Chapter

Quizzes and Test110

Learning ActivityTILA

Internet search fortrigger terms

Report findings toinstructor

15

Day 5

SAFE Part Three:

Industry Basics

Industry


Quizzes and Test90

Loan Process:

QualificationChapters 1, 2, & 3

Complete Chapter

Quizzes and Test100

FICO Scores Case

StudyReview credit scores Complete Quiz 10

Learning Activity

Credit Report

Review credit scores

Post a comment on

the Discussion

Forum regardingcredit scores

10

Learning Activity

Loan Process:

Qualification

N/A

Complete an

assignment based on

qualification

calculations and

submit to instructor

15

Day 6

SAFE Part Four:

Loan Process &

Idaho Law

Loan Process: Part II

Chapters 1, 2, & 3Complete Chapter

Quizzes and Test100

Learning Activity


Review types of loan

products

Post a comment on

the Discussion

Forum and comment

on another student's

post

10

Day 7

Idaho Mortgage Law Chapters 1, 2, & 3 Complete Chapter

Quizzes and Test100

Enforcement Actions

Case Study

Department of

Finance's newsletter

Submit review of

disciplinary actions

to instructor

15

Course Final N/A Complete Exam 20

Evaluation N/A Complete evaluation 5


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Course Outline and Schedule - 14 Day

Schedule Topics and Activities Reading Due Assignments DueInstruction Time

Allocation (in minutes)

Days 1-2

SAFE 20 Hour Pre-

licensing CourseIntroduction

Introduction and

Syllabus

Submit Online

Affidavit 10

SAFE Part One:

Consumer Protection

Learning Activity

Welcome

Learning Activity

Instructions

Post an introduction

on the Discussion

Forum

10

Consumer Protection Chapters 1, 2, & 3Complete Chapter

Quizzes and Test100

Learning Activity

Consumer Protection

Learning Activity

Instructions

Post Information

regarding consumer

protection on the

Discussion Forum

10

Identity Theft Case

Study

Review information

on FTC's websiteComplete Quiz 10

Learning Activity

Identity Theft

Review information

on FTC's website

Post remarks on the

Discussion Forum10

Days 3-4

Fair Lending &

HousingChapters 1, 2, & 3

Complete Chapter

Quizzes and Test100

HUD Case StudyReview information

on HUD's websiteComplete Quiz 10

Learning Activity Fair

Housing

Review information

on HUD's website

Post a scenario on

the Discussion

Forum

10

Loan Fraud & Ethics Chapters 1 & 2Complete Chapter

Quizzes and Test95

Loan Fraud Case

Study

Review Information

on FBI's websiteComplete Quiz 10

Learning Activity

Loan Fraud & Ethics

Internet search for

loan fraud examples

Report findings to

instructor15

Days 5-6

SAFE Part Two:

Federal Law

Non-traditional

Mortgage Products


Quizzes and Test100

RESPA Chapters 1, 2, & 3 Complete ChapterQuizzes and Test

100

Learning Activity

RESPAN/A

Post a comment on

the Discussion

Forum regarding

RESPA

10


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Days 7-8

TILA Chapters 1, 2, 3, & 4Complete Chapter

Quizzes and Test

110

Learning Activity

TILA

Internet search for

trigger terms

Report findings to

instructor15

Days 9-10

SAFE Part Three:

Industry Basics

Industry


Quizzes and Test90

Loan Process:

QualificationChapters 1, 2, & 3

Complete Chapter

Quizzes and Test100

FICO Scores Case

StudyReview credit scores Complete Quiz 10

Learning ActivityCredit Report Review credit scores

Post a comment on

the DiscussionForum regarding

credit scores

10

Learning Activity

Loan Process:

Qualification

N/A

Complete an

assignment based on

qualification

calculations and

submit to instructor

15

Days 11-12

SAFE Part Four:

Loan Process &

Idaho Law


Chapters 1, 2, & 3Complete Chapter

Quizzes and Test100

Learning Activity


Review types of loan

products

Post a comment on

the Discussion

Forum and comment

on another student's

post

10

Days 13-14

Idaho Mortgage Law Chapters 1, 2, & 3 Complete Chapter

Quizzes and Test100

Enforcement Actions

Case Study

Department of

Finance's newsletter

Submit review of

disciplinary actions

to instructor

15

Course Final N/A Complete Exam 20

Evaluation N/A Complete evaluation 5

Documents

Syllabus Safe 20 Hour Idaho Comprehensive