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The 8 hours of content in this course will fulfill all of the education needed to renew your DC license.

This course is broken down into 5 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 first module of the course focuses on federal laws and rules that apply to mortgage loans and mortgage loan originators. The federal regulations addressed in this portion of the course include the SAFE Act and the TILA-RESPA rule.

The second module of the course will cover ethics and consumer protection. Aside from ethics and ethical duties, this portion of the course will also talk about fraud in mortgage lending and fair lending practices.

The third module of the course will discuss non-traditional mortgage loan products like adjustable rate mortgages and reverse mortgages. Not only will this segment examine these types of mortgages, it will also look at some of the regulations governing them.

The first half of the course will end with a 25 question final exam designed to test students on concepts from across the course.

The DC content 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 quiz consisting of 15 questions randomly drawn from the second half of the class.

 

  • Course ID(s): 10749, 10740
  • 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.