3 Hour Mortgage Loan Originator Massachusetts SAFE Course

Course Syllabus
Tuesday, Thursday, Saturday 10am - 10pm MT
Welcome to our Massachusetts SAFE Course. We are excited to assist you in furthering or
beginning your mortgage career and are pleased you chose Praedo Institute to satisfy your
education requirements.
Course Purpose
This course is meant to satisfy the three hour MA specific education requirement for MA loan
originator license applicants. If you are taking this course, you should have completed at least
17 hours of NMLS approved education at another time.
Course Description
During this course, we will cover the MA SAFE Act and several of the regulations that
accompany it. This course is divided into sections that cover: Mortgage Regulatory Agencies,
Definitions, License Law and Regulation, Compliance, Disciplinary Action, and Additional State
Regulations.
Course Dates and Times
This course is offered Tuesday, Thursday, and Saturday from 10am to 10pm MT. Your course
MUST be completed within the 12 hour time period that you select.
Please pay close attention to the course schedule found at the end of this syllabus. During your
course you will be required to submit an assignment that must be graded by an instructor
before you can continue progressing through the course. The course schedule outlines the
times by which the assignment must be submitted.
If you do not complete your course within the 12 hour session time, you will be required to
choose a different session date and re-start the course from the beginning.
NMLS has made it clear that courses must be completed in a timely manner. Please consider
the following from Functional Specifications for all NMLS Approved Courses: Version 6 section
1.5.2.3.

"All course completion requirements, reading, assignment, and student/instructor interaction is

to be completed within this 12 hour period."
Instructor Contact Information
Once you register for the course, you will receive an email from the instructor assigned to your
course. The email will introduce your instructor as well as explain contact methods and
expected response times. Once your course session opens, you will be able to contact your
instructor via the "Contact Instructor" button on your home page.
Course Objectives
Upon completing this course, you should be able to do the following:
Understand the scope and applicability of Massachusetts mortgage laws;
Comply with the requirements for licensees under the applicable laws and rules; and
Protect the public by following the requirements set forth in the laws and rules.
Grading Policy
The course consists of slides mixed with comprehension questions. Each chapter includes a
chapter quiz. You will also need to pass a course final at the conclusion of the course. You may
view the slides at your own pace, but you must answer all of the comprehension questions
correctly and score at least 80 percent on all quizzes. You must also pass the final exam with a
score of at least 80 percent in order to receive credit for the course.
Your course consists of two parts. At the end of the first part, you will be required to submit an
assignment to your instructor. Your instructor will grade your assignment within one hour of
assignment submission. Once your assignment has been graded and passed, your instructor
will allow you access to the next part of your course. If your assignment is rejected by your
instructor, you will need to re-do and re-submit the assignment, it will then be graded within
one hour of re-submission.
Course Policies
Each student is required to submit an Identity Affidavit. By confirming the attestation, the
student certifies that the course work was or will be completed by the person for whom the
certificate will be issued. The student further certifies that they did or will not receive any
assistance in completing the course. The submission of a completion certificate for a course
they did not complete themselves may constitute fraud on the students part and is subject to
prosecution and/or discipline.

Technical Support
As our course is entirely online, we do offer live technical support via telephone and email from
8:30am to 5:00pm Mountain Time on regular business days. After hours, holiday, and weekend
support is available 365 days a year via email from 9:00am to 10:00pm Mountain Time. Our
telephone number is 801-492-9933 and the support email is support@praedo.com. Please
note, our technical support staff will often be unable to answer content questions which are
more appropriately directed to your instructor.
Using our System
Once you purchase the course and are logged into our system, you should see a link to the
course on your home page. This link will launch the course. Please carefully review the
introduction module for instructions on using our online system.
Course Outline
This course consists of two parts, each covering different aspects of Massachusetts law.
MA SAFE Mortgage Law Part 1
Introduction: This module will introduce you to our system. Adherence to the advice and
instructions offered in this module will greatly improve your online education experience.
MA Mortgage Law Chapter 1: Chapter One covers mortgage regulatory agencies, definitions
and loan originator, broker and lender license law and regulation. It consists of the following
sections:
Introduction
License Law and Regulation
Licensing of MLOs
Financial Responsibility
Criminal Background
Character and Fitness
Grounds for Denying a License
Pre-licensing Coursework
Renewal
Credit for Teaching
Notice
Licensing of Brokers
Exempt
Financial Responsibility
Financial Statements

Denial
Application Procedure: Mortgage Lender
Exempt
Financial Responsibility
Financial Statements
Character and Fitness
Business Experience
Denial
Consumer Protection
Reverse Mortgages
Requirement for Mortgage to Affirmatively Opt in Writing
Requirement for Third Party Counseling
Prohibited Acts or Practices
Predatory Home Loan Practices Act

MA Licensing Case Study: The student will use information they have learned in the first part
of the course to distinguish between qualified and unqualified licensing candidates.
This assignment must be completed and submitted by 5pm MT on the date you begin the
course. If your assignment is not submitted by this time, you will be required to re-start the
course in a different session.
MA SAFE Mortgage Law Part 2
MA Mortgage Law Chapter 2: Chapter Two covers prohibited acts and practices for brokers,
lenders and mortgage loan originators and consists of the following sections:
Prohibited Acts and Practices
Loan Originators
Mortgage Brokers
Refinancing in the Borrowers Interest
Determining Borrowers Interest
Timing
Notice of Claims
Demonstration and Documentation of Compliance
Unfair or Deceptive Acts or Practices
Fees and Charges
Prohibited Acts or Practices and High Cost Mortgages
No Packing
Prohibitions on Advertising

Unconscionable Rates and Terms

Unreasonable Charges

MA Mortgage Law Chapter 3: Chapter Three covers advertising, disclosures, recordkeeping,

the Community Reinvestment Act and Fair Lending, as well as foreclosure prevention options
and related services. It consists of the following sections:
Advertising
License Disclosures for Loan Originators
License Disclosure for Lenders and Brokers
Recordkeeping
Unique State Test Areas
Community Reinvestment Act and Fair Lending
Foreclosure Prevention Options
Foreclosure Related Services
Course Final: The student will complete the course final covering all of the material discussed
in the course. They are required to pass the final with a score of at least 80%.
Course Evaluation: Students will be allowed to give feedback regarding the course.
In order for you to receive credit for this course, all coursework (including the assignment)
must be completed and approved, the final must be passed with a score of at least 80%, and
the course evaluation must be completed by 10pm MT on the course session date.
Course Schedule
This course consists of the two parts outlined above. The requirements for each part are listed
in the course schedule with the time allowed to complete each learning module. This course
meets the minimum time requirement of 50 seat minutes for each clock hour the course is
approved. This course is approved as a three hour course and must be completed in its entirety
in order for you to receive credit.
Good Luck
Once again, thank you for choosing Praedo Institute. Your success is extremely important to us.
Please let us know if we can be of assistance at any time. Enjoy the course!

Course Outline and Schedule T,TH,Sat 10am MT to 10pm MT

Schedule

Must be
completed
by 3pm MT

Must be
completed
by 8pm MT

Topics and
Activities
MA SAFE
Mortgage Law
Part 1

Reading Due

Assignments Due

Instruction Time
Allocation

Introduction
MA Mortgage Law
Chapter 1

Complete chapter
quizzes

40 Minutes

MA Licensing Case
Study

MA SAFE
Mortgage Law
Part 2

MA Mortgage Law
Chapters 2 & 3

Evaluation

N/A

Submit memo to
instructor by 5pm
MT
Complete chapter
quizzes and course
final
Complete
evaluation

20 Minutes

85 Minutes
5 Minutes