1 Hour Course
Show Course ID: 1
Course ID: 10740
Approved By: NMLS
This course on DC-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 DC-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:
The course begins with information on licensing and the adoption of the Mortgage Broker and Lender Amendment Act of 2009, then moves into the regulations licensed mortgage loan originators must abide by. Such topics discussed include the DC Official Code’s prohibited practices and the DC Municipal Regulations on various aspects of a MLO’s job, such as license renewal, annual reporting, and lock-in agreements.
Students will also learn about the implementation of Electronic Surety Bonds (ESB) by the NMLS, and will understand the process of using ESBs to prepare them for the eventual adoption by the District.
The course is completed with a final exam consisting of 15 questions randomly drawn from the class.