Late CE: 10 Hour SAFE Core and Oregon Law 2023 MLO Package (15120 & 15132)

  • 10 Hour Course
  • $79.00

This course is designed to address your 2023 Late CE needs.

This 10 hour package for mortgage loan originators in Oregon is designed to provide all of the mandatory education needed to renew your MLO license.

The purpose of the 2-hour state specific portion is to provide mortgage loan originators in Oregon with a comprehensive overview of the laws and regulations that affect them. This course is made up of two modules. 

The first module of the state-specific portion is concerned with the overall regulatory framework. This module will start with a look at the SAFE Act and its influence on the regulations in Oregon. We will then examine Oregon’s Mortgage Lending Law (codified in Oregon Revised Statutes Chapter 86A) 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 of the state portion dives into Oregon Administrative Rules and 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. 

To promote comprehension, students will complete a 5-question quiz and short activity after each module. A 15-question final exam will wrap up the course.

Below is an overview of each course module in the eight-hour core portion:

Module 1: Federal Mortgage Law (3 Hour)

Module one starts by covering federal laws and rules related to mortgage loan originators and mortgage loans. Specific laws discussed include the Equal Credit Opportunity Act, the Fair Credit Reporting Act, legislation about electronic records and signatures, and more. Integrated Mortgage Disclosures, Regulation Z, and federal oversight on mortgage lending are also covered.

Module 2: Ethics, Fraud, Consumer Protection, and Fair Lending (2 Hour) 

Module two focuses on mortgage industry ethics and consumer protections. Topics covered include mortgage fraud examples, Identity Theft Rules (16 CFR 681), and best practices for safeguarding client data. The module also features compliance recommendations and multiple case studies for consumer protection and Regulation N. Students will explore fair lending and balancing commercial aspirations with ethical business practices.

Module 3: Non-Traditional Mortgage Lending (2 Hour)

Module three covers non-traditional loans like adjustable-rate and reverse mortgages. It starts with a review of Federal Housing Administration updates, the Home Equity Conversion Mortgage program, and adjustable-rate mortgage lending standards. Affordable housing programs, VA loans, and down payment assistance programs are also discussed.

Module 4: The Mortgage Market and the Federal Reserve System (1 Hour Elective)

The course ends with an elective module that reviews the U.S. Federal Reserve System and mortgage market. Subjects reviewed include recent industry developments, primary sources of home financing, financial markets, and conventional and unconventional loan types.

Every module ends with a five-question quiz and an interactive activity. The activity presents students with a hypothetical scenario based on module content and includes five scenario-related review questions. To pass the course, students must take a 25-question final exam and pass with a score of at least 70%.

  • Course ID(s): 15531, 15524
  • 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.