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LA 4.0 hours 2016 Mandatory - CFPB and You - Course Syllabus


 2016 Mandatory - CFPB and You  Course Video Image

Course Syllabus:

4.0 Elective Hours.

This course is intended to prepare Louisiana licensees with basic knowledge of the new forms and regulations. This information will prepare the licensee for smoother transactions and satisfied consumers.

Course Objective

Introduction - How the new CFPB rules and forms impact your real estate business.

Explain the objectives, mission and duties of the Consumer Financial Protection Bureau.

Discuss the history of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.

List the initial reforms implemented by the CFPB in January 2014.

Learning Activity: Video

Learning Activity: Video

Describe the impact of the new financial rules and disclosure forms on real estate transactions.

Explain the necessary processes required for activating the Loan Estimate form.

Give examples of applicable loan information required on page one of the Loan Estimate form.

Paraphrase the loan details and disclosures required of the creditor completing the Loan Estimate form.

Identify the types and projected payments of a loans detailed on the Loan Estimate form.

Explain categories of costs listed on the Loan Estimate Form.

Enumerate and clarify other cost required to close the loan.

Summarize the Calculating Cash to Close table and clarify how the amount of cash needed at closing is calculated.

Demonstrate knowledge of the component parts of an Adjustable Rate Mortgage as displayed on the Loan Estimate Form.

Demonstrate knowledge of the requirements for, and contents of, the Closing Disclosure.

Explain amounts paid by the consumer, seller and others for each item on the disclosure.

Relate information regarding the Cash to Close table and explain the Summaries of Transactions.

Comprehend the Seller’s Transactions and explain the amounts due to the seller at closing.

Scheduled Outage: July 22, 2017 7:00 - 7:15 EST