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This 4 hour set on New Jersey laws and regulations fulfills the state elective requirement for annual renewal. Mortgage loan originators and qualified individuals in the state must take 12 hours of continuing education each year, with 3 hours being dedicated to federal law, 2 hours of ethics, 2 hours of non-traditional mortgage lending, 1 hour elective, and these 4 hours of state-specific content. 

We'll begin with an overview of the Residential Mortgage Licensing Act (RMLA) as it is codified in New Jersey’s statutes. Next are details about the Home Ownership Security Act. The administrative codes that implement the RMLA encompass topics like licensing, record retention and accuracy, advertising, insurance, and other financial considerations related to mortgage lending. Prohibited practices, recent enforcement actions in the state, and current events will round off the first module.

The second module is a thorough exploration into the history, makeup, and warning signs of money laundering. We'll examine recent cases, anti-money laundering legislation, and the role of mortgage professionals in catching and reporting suspicious activity. 

To promote comprehension, students will complete a 5-question quiz and short activity after each module. A 25-question final exam will wrap up the course.

  • Course ID(s): 12965
  • 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.