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Every year, licensed and registered mortgage loan originators in Michigan must complete eight hours of renewal education that covers specific core topics and an elective. This NMLS-approved course fulfills Michigan’s continuing education requirement. 

Below is an overview of what is covered in each course module:

Module 1: Federal Mortgage Law (3 Hour)

The course begins by discussing federal rules and laws for mortgage loans and mortgage loan originators. Major topics include the Fair Credit Reporting Act, legislation pertaining to electronic records and signatures, the Equal Credit Opportunity Act, and more. Students also review Regulation Z, Integrated Mortgage Disclosures, and recent updates on how federal oversight affects mortgage lending.

Module 2: Ethics, Fraud, Consumer Protection, and Fair Lending (2 Hour) 

Module two focuses on consumer protections and mortgage industry ethics. Topics include mortgage fraud examples, Identity Theft Rules (16 CFR 681), and methods for safeguarding client data. This module also provides several case study examples and compliance recommendations for Regulation N. Other topics include fair lending, consumer protection, and balancing commercial aspirations with ethical business practices.

Module 3: Non-Traditional Mortgage Lending (2 Hour)

Module three examines non-traditional mortgage options like adjustable-rate and reverse mortgage loans. Students will also review the Home Equity Conversion Mortgage program, Federal Housing Administration updates, and adjustable-rate mortgage lending standards. Other financing options discussed include VA loans, down payment assistance programs, and affordable housing programs.

Module 4: The Mortgage Market and the Federal Reserve System (1 Hour Elective)

This elective module covers the U.S. mortgage market and Federal Reserve System. Topics discussed include conventional and unconventional loan types, primary sources of home financing, financial markets, and recent industry developments.

Every module in the course ends with a five-question quiz and an interactive activity. The activity is a hypothetical scenario based on module content and includes five questions. Before getting credit for the course, students must pass a 25-question final exam with a score of at least 70%.

  • Course ID(s): 15106
  • Approved By: NMLS

Instructor Bio

Mary Tillery real estate atyourpaceonline instructor

Mary Tillery, an originating branch manager at Synergy One Lending in Grants Pass, Oregon, believes that buying a home is one of life’s true milestones. For more than 35 years, she has been teaching lending education classes and helping homebuyers achieve their dreams. Mary combines her love of knowledge with her passion for people in her roles as a loan originator and educator. From first-time mortgages to complex construction financing, she is happy to share her expertise with clients and industry professionals alike.