On Demand Course

Reg Z and Safe Act Refresher (MLO/LO)

Clarify MLO/LO rules, strengthen compliance, modernize oversight programs.

Learning Objectives

After attending this course, you will be able to:

  • Identify the purpose of the SAFE Act and describe the roles of the NMLS/NMLSR, distinguishing the federal registration requirements under Regulation G from the state licensing requirements under Regulation H
  • Differentiate individuals who meet the SAFE Act’s two-part definition of a Mortgage Loan Originator (MLO) from those who are excluded and recognize the registration, recordkeeping, and program-management obligations financial institutions must apply to MLOs
  • Recognize which employees meet the Regulation Z definition of a Loan Originator (LO) under its single-prong test, differentiating loan origination activities from non-LO clerical or administrative functions
  • Differentiate permissible from prohibited loan originator compensation arrangements under Regulation Z, and identify the qualification, background-check, training, and disclosure requirements that apply to Loan Originators
Rebekah Leonard 3.2 CPE/ NASBA 2 HR
Included with Team Membership

About This Course

New! NMLS 2.0 took effect September 20, 2025!  The Nationwide Multistate Licensing System (NMLS) has long operated 2 sites: 1 for state licensing and 1 for federal registration.  Are you clear on the differences, and which one is important to your federally-regulated financial institution (hint, you can disregard the state exam requirements)? Now is the time to freshen up your understanding of these similar but different requirements and clear out any cobwebs!  Develop a new program or rejuvenate your existing one to enjoy a robust, workable and meaningful oversight system. This course will review SAFE Act and Reg Z requirements for MLOs and LOs, define and dissect key terms such as Mortgage Loan Originator, Loan Originator and Compensation, explore the impact of referral programs, and detail the requirements every LO must meet.   In addition to the webinar slides and manual, participants will receive a sample program to customize for their own institution, including a policy, employee survey, and training material pointers for in-house employee training.

Topics covered in this course

  • Compare and contrast MLOs and LOs
  • Requirements MLOs must follow
  • Requirements LOs must follow, including all 1026.36 provisions
  • How overly helpful employees can find themselves meeting the LO definition
  • The Gotcha! game of referral and/or cross-selling programs
  • Scenarios to illustrate real world examples
  • Going beyond job titles
  • Who owns MLO / LO oversight
  • How to write (or update) an appropriate MLO / LO Program
  • How to train all your employees, not just loan staff
  • How to administer and track an employee survey
  • Sample Policies
  • Sample Employee Survey

Who Should Attend:

  • Compliance staff
  • HR officers
  • Lending managers
  • Risk managers
  • Auditors

 

Your Instructor

Rebekah Leonard
Rebekah Leonard

Rebekah is the owner of Elucidate LLC, a compliance training and consulting company. Elucidate means to "make clear, explain, throw light upon", and describes Rebekah's desire to illuminate the complexities of compliance with passion and fun. She's created and produced a TRID music video parody and several Compliance Breakout escape rooms, which she frequently provides at state banking compliance conferences. She is an accomplished speaker and regularly provides webinars through BOL and Compliance Resource. Rebekah is currently serving as the VP Director of Compliance for a $6 Billion community bank in Montana. She began her career in 1995 at a private lending company, but soon settled into banking, where she's covered nearly all of it - customer service and teller work, loan processing and review, and security and business continuity. She now oversees CRA, BSA and all aspects of compliance as a senior leader. She has successfully navigated numerous FDIC Compliance, CRA, and BSA Exams. Rebekah has a bachelor's degree in Organizational Leadership from Chapman University (Magna cum Laude), attended the American Bankers Association National Compliance School in 2003, and has held her Certified Regulatory Compliance Manager designation since 2006.

CPE & Accreditation

This course qualifies for 3.2 CPE/ NASBA. Your certificate and transcript are available immediately upon completion.

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CPE/NASBA - QAS Self Study

Noggin Guru, Inc. dba Lorman Education Services and BankersHub is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539.

Please note: You must attend at least 50 minutes to obtain credit. Final CPE approval belongs with each state's regulatory board. Credit is based on a 50-minute credit hour.

For more detailed information about the course, including the outline, content, and objectives, please refer to the 'Description' tab on this webpage.

Field Of Study: Regulatory Ethics
Prerequisite: Basic knowledge of the banking industry, business, or law
Level of Knowledge: Intermediate
Advanced Preparation: None
Delivery Method: QAS Self Study

Requesting CE:
Upon completion of this course, please email creditrequest@nogginguru.com to obtain a CE certificate.

Training your team?

This course is covered under team memberships.

See Team Memberships
Buying for yourself?
$ 249
Included with Team Membership
Training your team?

This course is covered under team memberships.

See Team Memberships
$ 249
per attendee