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This 8 hour package for mortgage loan originators in Maryland is designed to provide all of the mandatory education needed to renew your MLO 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
  • A quiz that consists of a five questions

The first module of the course is about sweeping laws and rules that apply to mortgage loans and mortgage loan originators across the country. A review of the SAFE Act, NMLS registration, an overview of state licensing standards, Regulation Z, and Integrated Mortgage Disclosures will make the bulk of the module. 

The second module deals with ethical considerations and consumer protection. An MLO's ethical responsibilities and the ATR/QM rule are demonstrated. Then, fraud, both from within and outside of the mortgage industry makes up the second half of the module. Fair lending practices and balancing one's business aspirations with the health of the market are emphasized.

The third module examines non-traditional mortgage loan products like adjustable rate mortgages and reverse mortgages. The HECM program is featured, along with its changes, its current state, plans for adjustment, and how the world of non-traditional mortgage lending might be evolving.

A final exam will ask 25 questions randomly drawn from the general education portion of the package.

The course contains an hour of educational content on the state and federal regulations affecting mortgage loan originators in Maryland. Over half of the class covers the unusually wide-ranging set of amendments to rules that govern MLOs in the state along with a series of advisories issued by the DRE in 2020.

The course also 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.

This content in this course is divided into two modules. After completing a module, a student will be required to read a case study and answer questions on that case followed by a 5-question quiz.

After completing the course, a student will take a 15-question final exam.

  • Course ID(s): 12074, 12037
  • 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.