Every licensed and registered mortgage loan originator (MLO) in Nevada must complete eight hours of standard annual renewal education. Our course is broken into four modules that discuss major topics.

The first module covers the laws and rules that affect mortgage loans and mortgage loan originators nationwide, with a focus on Nevada. It includes a review of the SAFE Act, Regulation Z, and the Equal Credit Opportunity Act (ECOA), highlighting 10 common violations identified by the Multi-State Mortgage Committee. These topics are mandatory for the 2024 core continuing education classes.

Module two discusses ethics and consumer protection. Topics include business ethics, the responsibilities of financial professionals, consumer protection under the ECOA, and the significance of fair lending practices in Nevada. Lastly, we discuss types of mortgage fraud in the United States and ways to recognize and prevent lending schemes. 

In the third module, we begin with non-traditional mortgage options and their associated risks compared to the 30-year fixed-rate mortgage loan. We'll cover adjustable-rate mortgages (ARMs), lending standards, high-cost loans, reverse mortgages, and counseling requirements. Additionally, we’ll discuss other loan options, such as government programs and owner financing.

Lastly, the fourth module reviews the definition and usage of renovation mortgage loans. The focus is on Fannie Mae HomeStyle® and FHA 203(k) renovation loans.

Each module will end with an assessment and quiz section. Students will read a short case scenario and then answer questions related to the covered material. The course will conclude with a 25-question final exam.

  • Course ID(s): 16204
  • Approved By: NMLS

Instructor Bio

Mary Tillery real estate atyourpaceonline instructor

Mary Tillery is the instructor for all of our MLO continuing education courses. She has been sharing her expertise with fellow mortgage loan originators for more than 35 years as a lending educator. Learn more about Mary’s background here.