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This 1 hour course on Hawaii laws fulfills the state elective requirement for annual renewal. Licensed mortgage loan originators in the state must take 8 hours of continuing education each year, with 3 hours being dedicated to Federal law, 2 hours of ethics, 2 hours of non-traditional mortgage lending, and this 1 hour of state-specific content. 

The course begins with an overview of the regulating agencies for MLOs in Hawaii, and examines the recent 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, a review of an MLO's rights and responsibilities during an investigation follows. This includes the right to confidentiality of some types of information.

Next we examine the Hawaii Mortgage Loan Recovery Fund, including its purpose and funding, proposed legislation, and the statute of limitations.

Finally, we conclude with some industry-specific news and recent developments relevant to mortgage loan originators in Hawaii.

To promote comprehension, students will complete a 5-question quiz and short activity after each module. A 15-question final exam will wrap up the course.

  • Course ID(s): 12962
  • 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.