4 Hour WV SAFE: State Law PE

4 Hour WV SAFE: State Law PE

Regular price $81.00

Approved Course Number - 11518

Course Cost $75.00 + Banking Fees at $1.50/Course Hour = $81.00

This online course is designed to meet your Pre-licensing education requirements in the state of which you have chosen. You may also need to complete the federal 20-hour SAFE Act requirement to gain your license. Nevada has a total PE hour requirement of 30 PE hours.

4-Hour WV PE Online

This year The 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: COURSE DESCRIPTION AND LEARNING OBJECTIVES 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”. • Discuss the explanation and documentation required if a non-local appraiser (greater than 75 miles) is used. NMLS WV State-Specific PE Requirements 04162018 Page 2 • Examine the determination of ability to repay (or exemption from the requirement). If debt-to-income ratio exceeds 50%, a written assessment containing certain information must be signed by the lender or lender’s representative and the borrower. • Describe the requirements regarding the good funds settlement act.


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.

Nathan Knottingham is a trainer for the Knowledge Coop. He has direct experience in both the mortgage industry and in teaching higher education, combining the two to bring the best educational experience possible. Nathan has worked in loan origination, teaching, curriculum development, corporate training and development, non-profit leadership, and public speaking. He entered the mortgage industry in May of 2007 as a Licensed Loan Originator in Oregon.

Sawyer came to The Knowledge Coop shortly after graduating with a degree in Business Administration from Biola University. He has lived in Europe and North Africa and speaks French Fluently. Sawyer has also been involved in the Real Estate and Property Management industries. Sawyer enjoys problem-solving, thinking creatively, and strives to bring that to bear on a daily basis at the Knowledge Coop through creating engaging content.