Opportunity for CUNA MLO NMLS-Approved Training in Michigan

CUNA is bringing an 8-hour Mortgage Loan Originator (MLO) training course to Michigan. The course is approved by the Nationwide Multistate Licensing System (NMLS).

The rules issued by the CFPB pursuant to Dodd-Frank amended Regulation Z require that a loan originator must receive periodic training. CUNA's course covers Federal and State law requirements that relate to the individual loan originator's origination activities, including:

    Federal Laws and Regulations

• Truth in Lending Act/Regulation Z
• Real Estate Settlement Procedures Act/Regulation X
• Fair Credit Reporting Act/Regulation V

    Ethics, Consumer Protection and Fair Lending

• Equal Credit Opportunity Act/Regulation B
• Fair Housing Act
• Home Mortgage Disclosure Act/Regulation C
• Servicemember Civil Relief Act

    Non-Traditional Mortgage Products

• Interagency Guidance on Non-Traditional Mortgage Products
• Adjustable Rate Mortgages
• Home Equity Lines of Credit
• Statement on Subprime Mortgage Lending
• Private Mortgage Insurance
• Higher Priced Mortgage Loans
• High-Cost Mortgages

    Undefined Mortgage Instruction

• SAFE Act
• Mortgage Product Advertising Rules
• Flood Insurance

The training takes place Oct. 18 at Michigan First Credit Union in Lathrup Village. Registration is $299 per person for CUNA members and $598 for nonmembers.