This course on Arizona-specific education fulfills 1 hour of annual continuing education for licensed MLOs in the state. A total of 8 hours must be completed each year, which includes 3 hours of federal law, 2 hours of non-traditional mortgage lending, 2 hours of ethics (including fraud, consumer protection, and fair lending issues), and 1 hour of Arizona-specific education. This is a stand-alone course, and can be taken either on its own or in connection to other courses offered to fulfill your CE requirements.
This course is broken down into 2 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
- An assessment that consists of a five question quiz
This course begins with an overview of the regulatory agency that oversees Arizona MLOs: the Department of Financial Institutions. We then examine definitions of various mortgage professionals, and exemptions to licensing.
After this is a discussion of the many prohibited practices MLOs should refrain from, and a look at licensing requirements, DFI fees, and actions that can end in denial, suspension, or revocation of a license.
The class ends with a refresher on the Mortgage Recovery Fund to ensure that students fully understand its purpose and use.
The course is completed with a final exam consisting of 15 questions randomly drawn from the class.
Show Course ID: 1
- Course ID(s): 10742
- Approved By: NMLS
Mary Tillery, loan originator and Sales Manager at Guild Mortgage, in Grants Pass Oregon, has been actively involved in home lending since 1986. She has originated everything from first time homebuyers, to complex construction financing and reverse mortgages, besides all forms of more traditional lending. Mary combines her depth of knowledge with a sincere desire to know, love and serve her clients. She has been teaching home buying classes for 20+ years and loves to share her knowledge with not just her clients, but with people in the industry who are interested in growing.