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The 10 hours of content in this course will fulfill all of the education needed to renew your Oregon license.

This course is broken down into 6 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 first module of the course focuses on federal laws and rules that apply to mortgage loans and mortgage loan originators. The federal regulations addressed in this portion of the course include the SAFE Act and the TILA-RESPA rule.

The second module of the course will cover ethics and consumer protection. Aside from ethics and ethical duties, this portion of the course will also talk about fraud in mortgage lending and fair lending practices.

The third module of the course will discuss non-traditional mortgage loan products like adjustable rate mortgages and reverse mortgages. Not only will this segment examine these types of mortgages, it will also look at some of the regulations governing them.

The final national module explains reverse mortgages, and provides the mortgage loan originator with a solid foundation of knowledge on the subject. Topics covered are what reverse mortgages are, the proceeds that come from them, the regulations that govern them, and the scams to watch out for.

The national portion of this course will end with a 25 question final exam designed to test students on concepts from across the course.

The state-specific portion of the course follows. The first module will start with a look at the SAFE Act and its influence of the regulations of Oregon. The module will then examine Oregon's Mortgage Lending Law with special focus on licensing requirements and restrictions. Topics such as the handling of client funds, prohibited practices and conduct of mortgage professionals, record availability for the Director, restrictions on negative amortization loans, and disclosure are also covered here.

The second module highlights some additional rules and Oregon specific amendments related to mortgage loan origination. Further information on MLO licensing, what constitutes dishonest, fraudulent, or illegal conduct as a mortgage professional, record keeping practices, and reverse mortgages are covered. Then, real world examples are provided for student consideration, and information on electronic surety bonds finishes the informative portion of the class.

The course is completed with a 15 question final quiz.

  • Course ID(s): 10751, 10809
  • 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.