2 Hour SAFE: Know Before You Owe Disclosures

Course Syllabus

Welcome to our SAFE Know Before You Owe Disclosures course. We are excited to assist you in
furthering your mortgage career and are pleased you chose Praedo Institute to satisfy your
continuing education requirements.
Course Purpose
This course is approved as two hours of CE elective credit. This course does not contain any
state-specific continuing education.
Course Description
Our Know Before You Owe Disclosures course covers the following topics: Disclosure Rule
overview, the Loan Estimate, timing, and the Closing Disclosure.
Course Dates and Times
This course is offered for the 2016 license renewal period. In order to ensure proper reporting
to NMLS before all mortgage loan originator licenses expire on December 31, 2016, this course
must be completed by December 21, 2016.
Course Objectives
Upon completing this course, you should be able to do the following:
Understand the implementation requirements of the Integrated Disclosures Rule
Accurately complete the Loan Estimate
Explain the Loan Estimate to borrowers
Accurately complete the Closing Disclosure
Explain the Closing Disclosure to borrowers
Understand when a new Loan Estimate is required and/or allowed
Understand when a new Closing Disclosure is required and/or allowed
Understand the timing requirements associated with the Loan Estimate and Closing
Disclosure
Calculate closing dates based on Closing Disclosure requirements
Grading Policy
The course consists of slides mixed with comprehension questions. Each chapter includes a
chapter quiz. At the end of the final part, you will be required to take and pass a final exam.

This course is timed as a two hour course. You must complete the parts, in order, to progress
through the course. You must answer all of the comprehension questions correctly and score
80 percent on all quizzes and tests to receive credit for the course. You may retake course quiz
questions until you pass, but you are allowed only 10 retakes of the course final.
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, email, and
chat 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 mailing address is 42 North, 200 East, Ste. 3, American Fork, UT 84003. Our
telephone number is 801-492-9933 and our support email is support@praedo.com.
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 four chapters, covering the following subjects: Disclosure Rule overview,
the Loan Estimate, timing, and the Closing Disclosure

Know Before You Owe Disclosures

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.
Know Before You Owe Disclosures Chapter 1: Chapter One includes a disclosure rule overview.
It consists of the following sections:
General Implementation
Timing Requirements

Know Before You Owe Disclosures Chapter 2: Chapter Two covers the Loan Estimate. It
consists of the following sections:
Loan Estimate Review
Know Before You Owe Disclosures Chapter 3: Chapter Three reviews miscellaneous issues and
a timing illustration. It consists of the following sections:
Redisclosing and Tolerances
Changes of Circumstance
Timing
Lender Credits
Case Study
Know Before You Owe Disclosures Chapter 4: Chapter Four reviews the Closing Disclosure. It
consists of the following sections:
Closing Disclosure
Alternative Closing Disclosure
Delivery of the Closing Disclosure
Case Study
Know Before You Owe Disclosures Course Final: 15 question final exam covering all of the
material discussed in the course.
Course Evaluation: Students will be allowed to give feedback regarding the course.
Course Schedule
This course consists of the four chapters outlined below. The requirements for each chapter
are listed with the approximate time needed 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 two 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

Module

Reading

Assignments Due

Introduction

ROC & Attestation

Quiz Questions

10

Quiz Questions
Quiz Questions

17
25

Quiz Questions

Quiz Questions

Quiz Question
Quiz Question
Quiz Questions
Quiz Questions

1
3
5
15

Quiz Question

Quiz Questions

Chapter 4

Instructions
General
Implementation
Timing Requirements
Loan Estimate Review
Redisclosing and
Tolerances
Changes of
Circumstance
Timing
Lender Credits
Case Study
Closing Disclosure
Alternative Closing
Disclosure
Delivery of the Closing
Disclosure
Case Study

Instruction Time
Allocation (Minutes)
5

Chapter 4

N/A

Course Evaluation

N/A

Quiz Questions
Complete Course
Final
Evaluation

Chapter 1
Chapter 1
Chapter 2
Chapter 3
Chapter 3
Chapter 3
Chapter 3
Chapter 3
Chapter 4
Chapter 4
Chapter 4

10
5