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8 Hour SAFE Comprehensive CE Course 2014

Course Syllabus
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Welcome to our SAFE Comprehensive CE Course for 2014. We are excited to assist you in
furthering your mortgage career and are pleased you chose Praedo Institute to satisfy your
education requirements.
Course Purpose:
This course is meant to satisfy the NMLS eight (8) hour mortgage loan originator continuing
education requirement for 2014.

Course Description:
As required by NMLS, our comprehensive course covers the following topics: four (4) hours of
Federal Law and Regulations, two (2) hours of Ethics, and two (2) hours of Nontraditional
Mortgage.

Course Dates, Times, Locations:
This course is offered for the 2014 license renewal period. Times, dates, and locations will be
customized per offering.

Course Objectives:
Upon completing this course, you should be able to do the following:
Understand the requirements of the new Loan Estimate disclosure form
Understand the requirements of the new Closing Disclosure form
Compare and contrast the new Loan Estimate disclosure form with the current GFE and
TILA disclosures
Compare and contrast the new Closing Disclosure form with the current HUD-1
Settlement Statement
Analyze situations and properly evaluate them in the context of fair lending compliance
Understand what constitutes loan fraud
Explain the anti-money laundering and Suspicious Activity Report requirements
Recognize when a mortgage lender or broker would be required to file a Suspicious
Activity Report
Understand recent changes relating to reverse mortgages
Explain the Reverse Mortgage Stabilization Act
Recognize problems and concerns with reverse mortgages

Completion Requirements
You must be in attendance for at least 50 minutes of each 60 minutes. You must complete a
case study assignment and you must complete and return the course evaluation in order to
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receive credit for this course. Please ensure all electronic devices are set to silent mode to
avoid disturbing other students.


Instructor Contact Information:
Instructor: Larry Miller
Address: 42 North 200 East, Ste. 3
American Fork, UT 84003
Email: larry@praedo.com
Phone: 801.492.9933
Office Hours: 8:30am - 5:00pm Mountain Time

Instructor Background:
Larry G. Miller
Larry has thoroughly enjoyed his 40+ year career in mortgage lending and real estate. Hes
worked his way up through the businesses, stopping at many different jobs along the way. He
began his career in 1972, managing the servicing of a significant mortgage portfolio which
included conventional, FHA and VA loans. He became one of the first FHLMC/FNMA
underwriters in Utah in 1976 and an FHA DE and VA Direct underwriter in 1986. Hes currently
an Associate Lending Manager and Senior Loan Consultant for one of Utahs largest and fastest
growing mortgage lenders, as well as maintaining a very successful real estate sales career. In
his spare time, hes taught classes at a community college and 2 major universities as well as 3
education companies for pre-licensing in both the mortgage and real estate industry. He has
authored and taught many classes currently being used for state and nationally approved
continuing education credit, for licensing renewals in both real estate and mortgage industries.
Larry is a graduate from Brigham Young University in Public relations with a strong minor in
Business Management. Hes also a graduate of the School for Executive Development from the
University of Washington in Seattle. Hes also held many positions in trade organizations in
both the real estate and mortgage industries.
Instructor Contact Information:
Instructor: Lance Miller
Address: 42 North 200 East, Ste. 3
American Fork, UT 84003
Email: lance@praedo.com
Phone: 801.492.9933
Office Hours: 8:30am - 5:00pm Mountain Time


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Instructor Background:
Lance B. Miller
A 20+ year veteran of the mortgage and real estate industries, Lance has held virtually every job
available in the mortgage business including general counsel, compliance manager, loan officer,
senior underwriter, secondary marketing manager, and servicing manager. Lance is a licensed
attorney, real estate broker, and associate lending manager. He owns the Praedo Institute, a
national training and consulting company serving the mortgage and real estate industries.
Lance currently serves on the Utah Residential Mortgage Regulatory Commission. He graduated
from the J. Reuben Clark Law School and received an MBA from the Marriot School of
Management at Brigham Young University.

Instructor Contact Information:
Instructor: Austin Baird
Address: 42 North 200 East, Ste. 3
American Fork, UT 84003
Email: austin@praedo.com
Phone: 801.492.9933

Instructor Background:
Austin Baird
Austin has been in the mortgage and real estate education and compliance industries for 4
years. He serves as the Director of Business Development for Praedo Institute, where he has
been creating and presenting industry-specific education for all 50 states. In addition to
prelicensing and continuing education, Austin is well versed in compliance issues and in
creating and implementing best practices. Austin graduated from BYU Law School and took
second place in Jeopardy (he even got the Final Jeopardy question right).

Course Outline:
This course consists of three parts, covering the following subjects: Federal Law, Loan Fraud,
and Nontraditional Mortgage.

SAFE CE Federal Law Review ( 4 hours)

2014 Federal Law Update Section 1: Section One explains the new disclosure rule. It covers
the following topics:
Disclosure Rule Overview (15 minutes)
Loan Estimate Overview (20 minutes)
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Closing Disclosure Overview (15 minutes)
Break (5 minutes)
2014 Federal Law Update Section 2: Section Two reviews CFPB Supervisory Highlights. It
covers the following topics:
Supervisory Highlights (5 minutes)
CMS (10 minutes)
Case Review - First Alliance (5 minutes)
Self-Reporting (5 minutes)
Self-Policing (5 minutes)
Remediation (5 minutes)
Cooperation (5 minutes)
Case Review - Fidelity (5 minutes)
Illegal Referral Schemes (5 minutes)
Break (5 minutes)
2014 Federal Law Update Section 3: Section Three reviews fair lending. It covers the following
topics:
Why do we care about Fair Lending (5 minutes)
Department of Justice (10 minutes)
Consumer Financial Protection Bureau (5 minutes)
Fair Housing Act (10 minutes)
Equal Credit Opportunity Act (10 minutes)
Types of Discrimination (10 minutes)
Break (5 minutes)
2014 Federal Law Update Section 4: Section Four reviews the Home Mortgage Disclosure Act.
It covers the following topics:
HMDA (5 minutes)
HMDA Case Study (10 minutes)
HMDA Data (5 minutes)
Tips for Compliance (5 minutes)
Recent Cases (10 minutes)
Break (5 minutes)

Case Study assignment: Students will be required to complete two written case study
assignments ( 15 minutes)



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SAFE CE Ethics and Loan Fraud (2 Hours)

Ethics and Loan Fraud Section 1: Section One will introduce you to the definition of loan fraud
and different types of loan fraud. It covers the following topics:
Loan Fraud Statistics (5 minutes)
Definition of Loan Fraud (5 minutes)
Consequences of Fraud (10 minutes)
Types of Fraud (15 minutes)
Fraud Schemes (15 minutes)
Break (5 minutes)
Ethics and Loan Fraud Section 2: Section Two will review the requirements for mortgage
lenders and brokers regarding money laundering and loan fraud reporting. It covers the
following topics:
Regulatory Agencies (10 minutes)
SARs Reporting (10 minutes)
Anti-Money Laundering Rule (5 minutes)
SARs Rule Reporting Requirements (10 minutes)
SARs Statistics (5 minutes)
SAR Scenarios (5 minutes)
Case Study (5 minutes)
Break (5 minutes)


SAFE CE Nontraditional Mortgage (2 Hours)

Nontraditional Lending Section 1: Section One discusses reverse mortgages. It covers the
following topics:
Overview of Reverse Mortgages (5 minutes)
Who Offers Them? (5 minutes)
Payout Options (5 minutes)
Maturity Events (5 minutes)
Eligibility Requirements (5 minutes)
HECM Costs (5 minutes)
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History of Reverse Mortgages (10 Minutes)
Break 5 minutes
Nontraditional Lending Section 2: Section Two reviews the Reverse Mortgage Stabilization Act.
It covers the following topics:
Rule Changes (10 minutes)
Initial Disbursement Limits (5 minutes)
Determining Principal Limit (5 minutes)
Term and Tenure Payments (5 minutes)
MIP and Principal Limit Factors (5 minutes)
Initial MIP Calculations for Refinances (5 minutes)
Problems and Concerns with Reverse Mortgages (10 minutes)
Third-Party Counseling (5 minutes)
Deferred Payment Loan (5 minutes)
Proprietary Reverse Mortgages (5 minutes)
Alternative to Reverse Mortgages (5 minutes)
Dangers of Reverse Mortgages (5 minutes)
Break 5 minutes

Course Evaluation: Students will be allowed to give feedback regarding the course. (2 minutes)

Course Schedule:
This course consists of the three parts outlined above. The requirements for each part are
listed with the approximate time needed to complete each learning module. This course meets
the minimum time requirement of 50 seat minutes for each clock hour the course is approved.
This course is approved as an eight 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 assistance at any time. Enjoy the course!