Course Learning Objectives 

After completing this course, you will be able to:

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• Identify federal regulatory requirements regarding consumer fees that can be charged by mortgage lenders, as well as higher-priced mortgage loans on principal dwellings.

• Describe federal regulatory requirements regarding disclosures by mortgage lenders, including Loan Estimates and Closing Disclosures.

• Describe federal regulatory requirements governing the content and delivery of notifications sent by creditors to applicants for credit.

• Recall the definition of identity theft and its relation to mortgage fraud, recognize how identity theft may be used in mortgage fraud schemes, identify the purpose and requirements of the Fair and Accurate Credit Transactions Act, and recall identity theft red-flag sources, categories, and types.

• Identify elements of the Telemarketing and Consumer Fraud and Abuse

• Prevention Act, describe deceptive telemarketing acts, identify deceptive telemarketing acts related to senior citizens, and recognize how deceptive and abusive telemarketing acts impact consumers.

• Identify the purpose and requirements of the Mortgage Acts and Practices – Advertising (Regulation N), recall how to detect prohibited advertising, and identify various types of abusive consumer acts.

• Identify nontraditional mortgage products in the mortgage marketplace, and the CSBS/AARMR recommendations to mitigate the risks.

• Given a case study, select the appropriate actions according to CSBS/AARMR Guidance on Nontraditional Mortgage Products Risks.

• Identify the FHA and VA mortgage products and updates that are available in the 2023 marketplace.

• Identify common types of housing and lending discrimination, as well as federal laws intended to address discriminatory behaviors.

• Identify ways in which people’s immigration status affects their ability to purchase real estate in the U.S., as well as how fair housing laws protect non-citizen homebuyers and renters.

• Recall training best practices for promoting fair housing compliance and diversity appreciation.