Late CE: 10 Hour SAFE Core and Oregon Law 2020 MLO Package (12073 & 12104)
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10 Hour Course
- $70.00
This course is designed to address your 2020 Late CE needs.
This 10 hour package for mortgage loan originators in Oregon is designed to provide all of the mandatory education needed to renew your MLO license.This course is broken down into 6 modules. Each module contains:
- A section of training
- An activity in which students will read a short scenario and then answer questions about the scenario
- A quiz that consists of five questions
The first module of the course is about sweeping laws and rules that apply to mortgage loans and mortgage loan originators across the country. A review of the SAFE Act, NMLS registration, an overview of state licensing standards, Regulation Z, and Integrated Mortgage Disclosures will make the bulk of the module.Â
The second module deals with ethical considerations and consumer protection. An MLO's ethical responsibilities and the ATR/QM rule are demonstrated. Then, fraud, both from within and outside of the mortgage industry makes up the second half of the module. Fair lending practices and balancing one's business aspirations with the health of the market are emphasized.
The third module examines non-traditional mortgage loan products like adjustable rate mortgages and reverse mortgages. The HECM program is featured, along with its changes, its current state, plans for adjustment, and how the world of non-traditional mortgage lending might be evolving.
Finally, the fourth module provides information on renovation mortgage loans in general, including what they are and when to use them, with a focus on Fannie Mae HomeStyle® and FHA 203(k) renovation loans.
A final exam will ask 25 questions randomly drawn from the general education portion of the package.
For the state-specific portion, mortgage loan originators in Oregon can meet their 2-hour state-specific elective requirement toward their 10-Hours of required continuing education credits for their annual license renewal with this course. The 2020 update includes some new topics, such as the use of assumed business names and professional accreditations, along with a look into Securities regulation in Oregon and how it affects the mortgage loan professional.
Plus, we'll look at some of the basic topics for MLOs, including:
- A look at the mortgage lending regulatory scheme including the Oregon state and national SAFE Acts
- Licensing and renewal requirements for mortgage loan professionals
- Mortgage loan origination practice basics and updates
- Important disclosures and advertising regulations, andÂ
- Some specifically prohibited practices
Show Course ID: 0
- Approved By: NMLS
Instructor Bio
Mary Tillery is the instructor for all of our MLO continuing education courses. She has been sharing her expertise with fellow mortgage loan originators for more than 35 years as a lending educator. Learn more about Mary’s background here.