Massachusetts SAFE 3 Hour | NMLS License

This year Knowledge Coop will walk you through an overview of NMLS-approved topics but, of course, we take a fresh and investigative approach to the information.

In this class you will learn about:

- Identify and describe the unique Massachusetts laws, to include:- Describe the MLO licensing standards set forth in c. 255F, section 4(a)(ii)(c) regarding certain misdemeanor convictions.

- Explain the reverse mortgage program requirements set forth in MGL c. 167E Sections 7 & 7A (applicable to mortgage companies pursuant to MGL c. 183, section 67)

- Know the late fees as described in MGL c. 183, section 59


Required Topics:

• Licensing of Mortgage Loan Originators

• Licensing of Mortgage Brokers and Mortgage Lenders

• Investigations and Examinations

• Maintenance of Books and Records

• Client Funds Accounts

• Advertising

• Reverse Mortgage Loans

• Massachusetts Disclosures

• Fees and Charges

• Prohibited Acts and Practices

• Regulatory Actions

• Community Reinvestment Act (CRA) and Fair Lending NMLS MA State-Specic PE Requirements 05222018 Page 2

• Renancing in the Borrower’s Interest

• Unfair or Deceptive Acts or Practices