Loan Officer Continuing Education Courses and Options

Most continuing education courses for loan officers focus on mortgage loan officers because of requirements set under the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE). Requirements under SAFE include training in federal law and regulations, ethics, and lending standards, plus elective studies in the field. Keep reading to learn about some common continuing education courses for mortgage loan officers.

Essential Information

Continuing education courses and programs for mortgage loan officers are commonly offered by private companies and organizations or education providers. Mortgage loan officers are required to be licensed in all states; continuing education requirements for licensure may vary depending on location. Continuing education is typically not mandatory for commercial and consumer loan officers. However, courses are available for these loan officers to help with career advancement and skill proficiency. Courses may cover topics such as small business lending, business portfolio development, loan management and portfolio management.

Here are a few common concepts found in loan officer continuing education courses:

  • Credit scores
  • Taxes
  • Financial reporting
  • Protective measures for consumers
  • Types of loans
  • Calculations/formulas
  • Forms

List of Common Courses

Federal Laws and Regulations Course

This course covers federal legislation of mortgaging and any changes, additions and new information that may be relevant to the industry. Students learn how the laws affect the mortgage lending business and how they relate to their own responsibilities. Penalties for noncompliance are covered, plus restrictions and sources of the laws. The Real Estate Settlement Procedures Act, the Truth-in-Lending Act, the Patriot Act and the Todd-Frank Financial Reform Act are covered, among other relevant legislation. Students may also study the role of the Bureau of Consumer Financial Protection.

General Mortgage Education and History Course

Topics covered in a general education course may include the credit scores, rate sheets, refinance loans, taxes, appraisal reports and sales tools. A brief overview of the history of the mortgage and finance industry and its development may also be covered. Students may examine the different tax considerations and scenarios, learn to spot issues with an appraisal report and discover the best methods to compare rates and terms to get the best refinance situation. This course can serve as a course for new loan officers or as a refresher course. Students will learn about any new changes in laws, industry news or other information that was not covered in the other SAFE-required courses.

Ethics in Lending Course

This course focuses on role of a loan officer in consumer protection. Students examine types of fraud to learn how to protect consumers. Professionalism, mortgage protection guidelines, reports on fraud and predatory lending are discussed. Students look at common types of fraud including false advertising and referral fees and, most importantly, learn how to uncover and report fraud. Students also learn how to explain mortgage products to consumers. Students who complete this course will have a clear understanding of mortgage industry fraud and how to keep borrowers protected.

Lending Standards Course

The differing types of mortgage products form the basis of this course. Students examine the different types of mortgage loans such as FHA and VA loans. Each type of loan products is discussed and students learn the differences between them. Students explore how unconventional loans are handled versus how conventional loans are handled, and the forms, calculation formulas and rules for all types of loans are discussed. This course also teaches students how to present and explain the wide variety of loan options to borrowers.

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