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This course on Missouri-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 Missouri-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:

  • A section of training
  • An activity in which students will read a short scenario and then answer questions about the scenario
  • An assessment that consists of a five question quiz

The course begins with a brief discussion about the system of oversight involving both federal organizations as well as state organizations. After that, we move on to the state statutes in RSMo Chapter 443 and the administrative code in 20 CSR 1140-30. These cover the rules and requirements for licensing and renewals, as well as annual reporting requirements, confidentiality rules, bonding requirements, and the rules for advertising, disclosure, and avoiding discrimination.

Next, we will talk about the authority that the director of the Division of Finance has over licensees and applicants. Violations and their penalties are also discussed. Then, we cover RSMo 408.231-241, which contains the statutes that apply to second mortgages, and finally, we will discuss reverse mortgages, which are governed by RSMo 443.901-930.

The course is completed with a final exam consisting of 15 questions randomly drawn from the class.

  • Course ID(s): 10756
  • 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.