AYPORealEstate.com

Mortgage loan originators in Arizona must complete seven hours of annual renewal education. This series has three modules that include recent industry updates and common violations identified by regulators.

Module one covers various laws and rules that apply to mortgage loans and mortgage loan originators across the country. The bulk of this module reviews the SAFE Act, Regulation Z, and the Integrated Mortgage Disclosures.

The second module deals with business ethics and duties that apply to financial services professionals. Then, the promotion of fair lending practices related to consumer protection and requirements under the Equal Credit Opportunity Act (ECOA) takes center stage. After that, we explain how to identify and deter predatory lending schemes and other types of mortgage fraud.

The third module looks at non-traditional mortgage loan products and the increased risks and scrutiny that accompany most 30-year fixed rate mortgage alternatives. We examine adjustable-rate mortgages (ARMs), reverse mortgages, counseling requirements, high-cost and higher-priced mortgage loans, and information on lending standards. Then we review other types of loans and financing options, including government programs and owner financing.

Each module ends with an assessment and quiz portion. The quizzes begin with an activity where students read a short scenario and then answer questions based on key topics covered in that section of the course. A 25-question final exam concludes the seven-hour course.

  • Course ID(s): 14261
  • Approved By: NMLS

Instructor Bio

Mary Tillery real estate atyourpaceonline instructor

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.