Approved Course Number - 15860
Provider ID - 1400023
Course Cost $29.00 + Banking Fees at $3/Course Hour = $32
This online course is designed to meet your 1 hour SAFE Act continuing education requirements in the state of West Virginia. You will also need to complete the federal SAFE Act requirements to maintain your license.
2-Hour WV SAFE CE 2024 Online
• Emphasize the compliance issues related to the use of social media by the company and mortgage loan originators and issues that could arise and lead to violations of law.
• Describe the Tangible Net Benefit requirements and demonstrate proper completion of the WV statutorily required form.
• Know the late payment penalty maximum charge of $30.00 and describe the requirement that this be disclosed correctly on all loan disclosures.
• Explain the loan-to-value limitation of 100%, unless program is specifically exempted by statute.
• Know that no application fees may be collected. Explain that third party pass through fees may be collected for the actual amount of the service provided.
• Recite fee limitations.
• Explain that no instrument evidencing or securing a primary or subordinate loan may contain a requirement that the final installment be greater than any other installment (balloon).
• Discuss the records that must be maintained per 106CSR5 of the Legislative Rules.
•Illustrate the requirement that an MLOs NMLS unique identifier is displayed on all advertising, including social media.
• Explain the restriction on use of the term “banker”.
• Examine case studies and real life examples and compare them to West Virginia state laws.
• Cover West Virginia specific mortgage and SAFE Act laws.
Meet Your Instructors
Ken Perry is the President and Founder of Knowledge Coop (KC), a training and consulting firm that specializes in mortgage education. As a 20-year veteran of the mortgage industry, Ken’s vast interactions training mortgage professionals inspired him to pursue his dream of bringing positive change to the mortgage industry on a much larger scale. The Knowledge Coop is an approved course provider of the National Mortgage Licensing System (NMLS) and is dedicated to bringing a unique, not-what-you-expect style of education to clients by mixing passion and humor with extreme knowledge.
Annie Mellor started in Mortgage in 2013 and has hated every moment (love and hate are very similar feelings). She has worked as a processor, LOA, and underwriter during her mortgage tenure and become familiar with every nook and cranny of the loan origination process. Annie is obsessed with cats to a concerning degree, and loves developing training at the Knowledge Coop!