Designed to meet the education requirements for Georgia mortgage brokers, this course seeks to provide an overview of Georgia mortgage broker laws, including the Georgia Fair Lending Act. This course meets 10 of the 40 hours required for licensure, in lieu of two years origination experience, by the state of Georgia.
Course Outline:
Lesson 1 - Georgia Residential Mortgage Act
- Education and Experience Requirements
- Financial Requirements
- Applications for Licenses
- Investigation Requirements
- Maintenance of Books, Accounts, and Records
- Advertising Requirements
- Suspension or Revocation
Lesson 2 - Georgia Fair Lending Act
- The Georgia Fair Lending Act
- Home Loans
- Defining "Home Loans"
- Home Loans Prohibitions and Limitations
- High-Cost Home Loans
- Flipping
- Remedies and Enforcement
- Other Provisions of the Amended Act
Lesson 3 - Fraud Detection and Prevention
- Fraud Statistics
- Perpetrators
- Quality Assurance
- Fraud Schemes
- Payback Schemes
- No-Payback Schemes
Course Credit:
Completion of this course earns five points towards any one of the following MBA designations: Commercial Certified Mortgage Banker, Master Certified Mortgage Banker, Certified Residential Mortgage Banker, or Certified Mortgage Technologist.
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