2 Hour Course
Show Course ID: 1
Course ID: 10809
Approved By: NMLS
This course on Oregon-specific education fulfills 2 hours of annual continuing education for licensed MLOs in the state. A total of 10 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), 1 hour of undefined electives, and 2 hours of Oregon-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:
The first module is concerned with the overall regulatory framework. This 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 the module ends with information on electronic surety bonds.
This course ends with a 15 question quiz from content pulled from the course randomly.