This course on Colorado-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 Colorado-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
The course begins with a quick overview of the regulating authorities MLOs must answer to, and then dives into the new Board Rules dealing with pre-licensing education and reactivation requirements. We also look at HB18-1128, Protections for Consumer Data Privacy, which requires covered entities to protect and destroy personal consumer information to keep it safe, and to give the proper outlets notice of security information breaches when necessary.
Students then examine the requirements of obtaining E&O Insurance, either with the Division-obtained group policy, an independent policy, or a group company policy. After this is a review of loan originator's duty to complete reasonable inquiry with each borrower, and to be competent in the industry for the good of the public.
The course is completed with a final exam consisting of 15 questions randomly drawn from the class.
Show Course ID: 1
- Course ID(s): 10782
- 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.