Licensed and registered mortgage loan originators in Colorado are required to take eight hours of renewal education every year that includes core topics and an elective.
This course fulfills all requirements by including four modules that focus on the following:
Module 1: Federal Mortgage Law (3 Hour)
The first module covers rules and laws that apply to mortgage loans and mortgage loan originators nationwide. Topics discussed include the Equal Credit Opportunity Act, legislation pertaining to electronic records and signatures, the Fair Credit Reporting Act, and more. Students also go over Regulation Z, Integrated Mortgage Disclosures, and recent updates on how federal oversight affects mortgage lending today.
Module 2: Ethics, Fraud, Consumer Protection, and Fair Lending (2 Hour)
Module two deals with consumer protection and ethical considerations. Topics include Identity Theft Rules (16 CFR 681), fraud in the mortgage industry, and how to safeguard client data. This module includes several case studies along with compliance recommendations for Regulation N. Leaners also explore fair lending, consumer protection, and balancing one’s commercial aspirations with ethical business.
Module 3: Non-Traditional Mortgage Lending (2 Hour)
The third module examines non-traditional mortgage loan products, including reverse mortgages and adjustable-rate mortgages. Federal Housing Administration updates and changes are covered first, then lending standards for adjustable-rate mortgages and a review of the Home Equity Conversion Mortgage program. Other types of loans and financing options are also covered, including down payment assistance programs, VA loans, and affordable housing programs.
Module 4: The Mortgage Market and the Federal Reserve System (1 Hour Elective)
This elective module focuses on the U.S. mortgage market and the Federal Reserve System. Topics discussed include conventional and unconventional loan types, financial markets, primary sources of home financing, and recent news and developments.
Every module ends with a five-question assessment and an activity. During the activity, students read a short scenario based on module content and answer five questions.
Students must also complete a 25-question final exam and earn a score of at least 70% to pass the course.
Show Course ID: 1
- Course ID(s): 15120
- Approved By: NMLS
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.