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This 8 hour package for mortgage loan originators in North Carolina 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 1-hour course on North Carolina laws and regulations fulfills the state elective requirement for annual renewal. Licensed mortgage loan originators in the state must take 8 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, and this 1 hour of state-specific content. 

This 1-hour course will cover a cross-section of critical issues. In our first of two modules, this includes:

The regulatory scheme governing mortgage lending in North Carolina, including primary oversight by the North Carolina Commissioner of Banks (NCCOB);

A comparison of the NC SAFE Mortgage Licensing Act and NMLS' Model Act; and

MLO activities which require licensure and the differences between various loan professionals in the industry. 

Our second module dives into Surety Bonds and the requirements for each mortgage loan professional, as well as the amount of the bonds that must be carried, but also at the method in which the bonds may be waived. And, we'll provide an overview of prohibited practices and potential fallout from violations. And, we round it out with an activity and 5-question quiz in both modules and then one final exam.

Join us now and get that renewal done!

  • Course ID(s): 12074, 12084
  • 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.