1 Hour Course
Show Course ID: 1
Course ID: 10807
Approved By: NMLS
This course on Hawaii-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 Hawaii-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 an overview of the regulating agencies for MLOs in Hawaii, and examines the last legal changes that affect loan originators.
Students then review licensing and sponsorship requirements for MLOs, and the exemptions to these. They will also look at license renewal and reinstatement information.
We will next examine the practices of a mortgage loan originator, and what is expected of an MLO. This includes topics like licensing fees, mortgage call reports, and continuing education needs.
In the section on rules and violations, students will see what actions are prohibited under HRS §454F-17, and what the penalties for committing such actions may be. After this is a review of an MLO’s rights and responsibilities during an investigation. This includes the right to confidentiality of some types of information.
Finally, we will look at the Mortgage Loan Recovery Fund, from which those who were the victims of a violation, such as fraud or misrepresentation, can recover damages.