1 Hour Course
Show Course ID: 1
Course ID: 10755
Approved By: NMLS
This course on Maryland-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 Maryland-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 discusses the basic regulatory framework that surrounds Maryland MLOs including the model act produced by the Nationwide Mortgage Licensing System and the Secure and Fair Enforcement for Mortgage Licensing (SAFE) Act.
The course talks about the state’s legal definition of an MLO and the actions that cannot be undertaken without a valid MLO license.
The course examines state regulations that are concerned with a MLO’s duty of care, the locations where MLOs can operate, and the production and use of advertising.
The course looks at the licensing of MLOs including the application process, required surety bonds, and the expiration of a license.
The course also explores the state’s requirements for storage and maintenance of transaction records.
The course is completed with a final exam consisting of 15 questions randomly drawn from the class.