20 Hour Mortgage Loan Originator South Carolina SAFE Comprehensive Course

Course Syllabus - 10 Day

Welcome to our South Carolina SAFE Comprehensive 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 20 hour SAFE education requirement for mortgage originator
licensure for the state of South Carolina.

Course Description
Along with the 17 hours of SAFE required education, this course includes 3 hours of South
Carolina Law as well as information related to loan qualification and the loan process. This
course satisfies the South Carolina SAFE requirement. Included in this course are: discussion
forums, interactive content, practice questions, and live instructor support.

Course Dates and Times

This course begins on Wednesday's at 8:00am Mountain Time and must be completed by
midnight on the session end date. Please note: In this session, you will be required to
complete course work and assignments over the weekend.

Please pay close attention to the course schedule found on the slide following this syllabus.
You are required by NMLS to complete assignments and progress through the course with the
other students in your session. If you do not submit your assignments by the required time
and fall behind in the course, you will automatically fail the course. At that point, you may
choose a different session date and re-start the course from the beginning.

NMLS has made it quite clear that courses must be completed in a timely manner. Please
consider the following from Functional Specifications for all NMLS Approved Courses: Version
6.

"Note: The availability of Online Instructor-Led courses is intended to ensure an option exists
for individuals where attending a classroom course may be problematic due to geography or
lack of availability of a local course provider. The scheduling of these courses is not intended to
be a convenience option whereby a student can causally work at their own pace or when their
schedule allows. Students taking these courses are required to allocate personal/professional
time and put forth the same level of effort as would be required to complete a classroom or
classroom equivalent course. During the time period in which the course is being offered,
instructors are required to hold students accountable for attendance and work, and must be
responsive to students assignments and questions just as they would be in a physical
classroom. "

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
Each of the individual modules in this course include learning objectives applicable to the
individual module itself. Our course is meant to give you an introduction to the mortgage
industry. Upon completing this course, you should be able to do the following:
Define basic mortgage terms;
Perform mathematical calculations common to the mortgage industry;
Explain certain mortgage concepts to potential borrowers;
Comply with applicable federal laws related to the mortgage industry; and
Have a solid understanding of South Carolina requirements including: mission of SC-BFI
and SC-DCA, provisions when licensed mortgage lenders act as mortgage broker;
mortgage fee agreement, disclosures; and prohibited activities.

Grading Policy
Most of the sections in this course consist of slides mixed with comprehension questions. Each
chapter includes a chapter quiz, and most sections include a course final. You may view the
slides at your own pace, but you must answer all of the comprehension questions correctly and
score 80 percent on all quizzes to receive credit for the course. You must also pass the
comprehensive course final with a score of at least 80 percent.

Several of the modules also include case studies, which involve the completion of a certain
project. The details for the individual case studies are found in the course.

Our course also includes 8-10 learning activities. In each of the learning activities, you will be
required to either post comments on our discussion forum or email an assignment to your
instructor for grading. Instructions for the learning activities are included in the course.
Your course consists of four parts. At the end of each part, you will be required to submit an
assignment to your instructor. You must submit your assignment to your instructor by
midnight MT on the day the assignment is due. If you fail to submit your assignment by this
time, you will fail the course and be required to reschedule your course and start from the
beginning.

Your instructor will grade your assignment by 10am MT the following day. Once your
assignment has been graded and passed, your instructor will allow you access to the next part
of your course. Assignments will ONLY be graded between midnight on the submission date
and 10am MT the following day to ensure that all students progress through the course as a
cohort.

If your assignment is rejected by your instructor, you will need to re-do and re-submit the
assignment. Once the assignment has been re-submitted, you will also need to email
support@praedo.com to inform us of the re-submission. Your instructor will grade it in a timely
manner and if you pass, you will be allowed to continue with the course. Please be sure to
check your course email for your instructor's approval.

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 four parts, each covering different aspects of the Secure and Fair
Enforcement for Mortgage Licensing Act of 2008 (SAFE Act).

SAFE Part One: Consumer Protection

SAFE SC 20 Hour Pre-licensing Course 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.

Learning Activity Welcome: The student will follow the instructions to make a post about
themselves.

Consumer Protection Chapter 1: Chapter One covers the Gramm-Leach-Bliley Act. It consists
of the following sections:
Privacy Rule
Safeguard Rule
Pre-texting
Consumer Protection Chapter 2: Chapter Two covers the Do Not Call Rules. It consists of the
following sections:
Do Not Call Registry
Do Not Fax Rules
Consumer Protection Chapter 3: Chapter Three covers the Red Flags Rule. It consists of the
following sections:
Definitions
Red Flag Rule Requirements
Identifying Red Flags

Learning Activity Consumer Protection: The student will follow instructions to post
information on the discussion forum regarding consumer protection.

Identity Theft Case Study: The student will review information on the Federal Trade
Commission's web site and answer related questions.

Learning Activity Identity Theft: After reviewing the information from the case study, the
student will follow instructions to post remarks on the discussion forum.
SAFE Fair Lending & Housing Chapter 1: Chapter One covers the Fair Housing Act, the Equal
Credit Opportunity Act, and the Home Mortgage Disclosure Act. It consists of the following
sections:
Fair Housing Act
Equal Credit Opportunity Act
Home Mortgage Disclosure Act
SAFE Fair Lending & Housing Chapter 2: Chapter Two covers the Fair Credit Reporting Act and
the Fair and Accurate Credit Transaction Act. It consists of the following sections:
Fair Credit Reporting Act
Fair and Accurate Credit Transaction Act
SAFE Fair Lending & Housing Chapter 3: Chapter Three covers the governmental agencies who
participate in regulating the mortgage industry. It consists of the following sections:
Role of the Federal Reserve
Role of the Federal Trade Commission
Role of the Department of Housing and Urban Developments

Fair Housing Its Your Right - HUD Case Study: The student will review information on the HUD
web site and answer related questions with regard to Fair Housing.

Learning Activity Fair Housing: After completing the HUD case study, the student will follow
instructions to post a scenario on the discussion forum.

SAFE Ethics and Loan Fraud Chapter 1: Chapter One will introduce you to the definition of loan
fraud and different types of loan fraud. It consists of the following sections:
Introduction to Loan Fraud
Definition of Loan Fraud
Consequences of Loan Fraud
Types of Fraud
SAFE Ethics and Loan Fraud Chapter 2: Chapter Two will review popular loan fraud schemes
and loan fraud statistics. This chapter also discusses ways to detect fraud and licensee
obligations when it comes to loan fraud. It consists of the following sections:
Common Loan Fraud Schemes
Short Sale Fraud
MARI Fraud Index

FBI Loan Fraud Case Study: The student will review information on the FBI's web site and
answer related questions with regard to fraud.
Learning Activity Loan Fraud & Ethics: The student will search the Internet for two examples of
loan fraud and report their findings to their instructor.

This assignment must be completed and submitted by midnight MT on the date indicated in
the course schedule.

SAFE Part Two: Federal Law

SAFE Non-Traditional Mortgage Products Chapter 1: Chapter One introduces the student to
non-traditional mortgage products. It consists of the following sections:
Introduction to the Industry
Definition of the Industry
Product Overviews
SAFE Non-Traditional Mortgage Products Chapter 2: Chapter Two covers federal guidance of
the non-traditional mortgage industry. It consists of the following sections:
Interagency Guidance on Nontraditional Mortgage Product Risks
Loan Terms and Underwriting Standards
Portfolio and Risk Management Practices
Consumer Protection Issues
Statement on Sub-prime Mortgage Lending
Predatory Lending
Prepayment Penalties
Reduced Documentation
Payment Shock
Workout Arrangements
Consumer Protection Principles

RESPA Update Chapter 1: Chapter One explains RESPAs kickback and referral fee provisions. It
consists of the following sections:
Purposes of the Real Estate Settlement Procedures Act
Scope of RESPA
Exempt Transactions
Definitions
Eliminate Kickbacks and Referral Fees
RESPA Update Chapter 2: Chapter Two covers affiliated business arrangements and servicing
requirements set forth in RESPA. It consists of the following sections:
Affiliated Business Arrangements
 Servicing Issues

Learning Activity RESPA: The student will follow the instructions to post a comment on the
discussion forum regarding RESPA.

TILA Update Chapter 1: Chapter One introduces the Truth in Lending Act and includes
definitions as well as information on APR and advertising. It consists of the following sections:
Definitions
Annual Percentage Rate
Advertising Rules
Trigger Terms
Required Disclosures
TILA Update Chapter 2: Chapter Two covers disclosure and the right of rescission. It consists of
the following sections:
Disclosure Requirements
Early Disclosures
Early Disclosure and Closing
Right of Rescission
High-Cost Loans
Higher-Priced Loans
TILA Update Chapter 3: Chapter Three covers loan originator compensation. It consists of the
following sections:
LO Compensation Rule
Payments Based on Transaction Terms
Reducing LO Compensation on a Transaction
Steering
Safe Harbor
TILA Update Chapter 4: Chapter Four Covers the ability to repay and QM rule. It consists of
the following section:
Ability to Repay and QM Rule

Learning Activity TILA: The student will follow the instructions to search the Internet to find
mortgage ads which include trigger terms. They will complete an assignment and submit it to
their instructor.

This assignment must be completed and submitted by midnight MT on the date indicated in
the course schedule.
 SAFE Part Three: Disclosure Requirements and Industry Basics

TRID Chapter 1: Chapter One includes a disclosure rule overview. It consists of the following
sections
General Implementation
Timing Requirements
Collection of Fees
Intent to Proceed
TRID Chapter 2: Chapter Two covers the Loan Estimate. It consists of the following section:
Loan Estimate Review
TRID Chapter 3: Chapter Three reviews miscellaneous issues and a timing illustration. It
consists of the following sections:
Redisclosing and Tolerances
Changes of Circumstance
Lender Credits
Case Study
TRID Chapter 4: Chapter Four reviews the Closing Disclosure. It consists of the following
sections:
The Closing Disclosure
Alternative Closing Disclosure
Delivery of the Closing Disclosure
Case Study

SAFE Industry Chapter 1: Chapter One reviews the structure of the mortgage industry. It
consists of the following sections:
Structure of the Mortgage Industry
The Primary Market
The Secondary Market
Mortgage Brokers
Mortgage Lenders/Bankers
Secondary Market Transactions
The Capital Market
SAFE Industry Chapter 2: Chapter Two discusses the basic mortgage categories. It consists of
the following sections:
Mortgage Industry Overview
Purchase Transactions
 Rate/Term Refinance
Cash-Out Refinance
Mortgage Categories
Conventional/Conforming
FHA - Federal Housing Administration
Advantages of FHA Lending
Higher Debt to Income Ratios
Non-occupant Co-borrowers
Disadvantages of FHA Lending
VA Loans
Rural Housing
Construction Loans
Jumbo/Non-Conforming
Second Mortgage/HELOC
Reverse Equity/HECM

SAFE Loan Process Part 1 Chapter 1: Chapter One covers pre-qualification. It consists of the
following sections:
Pre-qualification
Down Payment
Income
Debts
Credit
SAFE Loan Process Part 1 Chapter 2: Chapter Two explores file documentation. It consists of
the following sections:
Assembling the File
Income Documentation
Acceptable Assets
SAFE Loan Process Part 1 Chapter 3: Chapter Three reviews credit reports. It consists of the
following sections:
Credit Reports
Credit Scores

FICO Scores Case Study: The student will review credit scores and answer questions related to
FICO.
Learning Activity Credit Report: The student will follow the instructions to post a comment on
the discussion forum regarding credit scores.
Learning Activity Loan Process Qualification: The student will complete an assignment based
on qualification calculations and submit their work to their instructor.

This assignment must be completed and submitted by midnight MT on the date indicated in
the course schedule.

SAFE Part Four: Loan Process Part 2 & South Carolina Law

Loan Process Part 2 Chapter 1: Chapter One covers mortgage products. It consists of the
following sections:
Fixed Rate Mortgages
Adjustable Rate Mortgages
Balloons
HELOC - Home Equity Line of Credit
Reverse Mortgages
Loan Process Part 2 Chapter 2: Chapter Two covers appraisals. It consists of the following
sections:
Types of appraisals
Cost Approach
Income Approach
Market Approach
Loan Process Part 2 Chapter 3: Chapter Three covers the closing process. It consists of the
following sections:
Hazard Insurance
Flood Insurance
Mortgage Insurance
Dropping Mortgage Insurance
Title, Escrow and Closing
Mortgages, Notes and Liens
Title Insurance Policies

Learning Activity Loan Process Part 2: The student will review the types of loan products
discussed and follow the instructions to post a comment on the discussion forum and respond
to another student's post.
South Carolina Mortgage Law Chapter 1: Chapter One covers mortgage regulatory agencies,
definitions, loan originator, broker and lender license law and regulation. It consists of the
following sections:
Mission of BFI and DCA
Overview of Department of Consumer Affairs
Licensing Under the BFI
Mortgage Broker Definitions
Other Definitions
Exemptions
Licensing Process
Surety Bonds
Education Requirements
Licensing under DCA
NMLS ID
Lender vs. Broker
Mortgage Broker Fee Agreement
Mortgage Log
Complaint Process
Federal vs. State Law

South Carolina Mortgage Law Chapter 2: Chapter Two covers prohibited acts and practices for
brokers, lenders and mortgage loan originators and consists of the following sections:
Compliance
Advertising
Escrow Accounts
Record Keeping
Branch Offices
Branch Manager
Lenders
Brokers

SC Mortgage Law Chapter 3: Chapter Three continues our discussion into how brokers,
lenders, and originators need to operate in order to stay compliant with SC law and consists of
the following sections:
Unconscionable conduct
Prohibited Acts
High Cost Loans
SC Mortgage Law Chapter 4: In the concluding chapter, we will address enforcement actions,
examinations and penalties which will include the following sections:
Enforcement actions and penalties
Powers of the Commissioner

SC Advertising Case Study: The student will use information they have learned in the first part
of the course to distinguish between compliant and noncompliant advertising campaigns.

The student will submit their completed assignment to their instructor for grading.

This assignment must be completed and submitted by midnight MT on the date indicated in
the course schedule.

Course Final: The student is required to take and pass a 25 question comprehensive final exam
with a score of 80% or higher. You have 10 attempts to pass the exam.

Course Evaluation: Students will be allowed to give feedback regarding the course.

The course final must be completed and submitted by midnight MT on the date indicated in
the course schedule.

Course Schedule
This course consists of the four parts outlined above. The requirements for each part are listed
in the course schedule with the time allowed to complete each learning module. You must
follow this schedule and progress through the course with the other students in your session
in order to receive credit for the course. Per NMLS regulations, if you do not complete the
course as outlined in the course schedule, you will automatically fail the course. At that
point, you may choose a different session date and re-start the course from the beginning.

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 23 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!