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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.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
  • A quiz that consists of 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.

Finally, the fourth module provides information on renovation mortgage loans in general, including what they are and when to use them, with a focus on Fannie Mae HomeStyle® and FHA 203(k) renovation loans.

A final exam will ask 25 questions randomly drawn from the general education portion of the package.

For the state-specific portion, mortgage loan originators in Oregon can meet their 2-hour state-specific elective requirement toward their 10-Hours of required continuing education credits for their annual license renewal with this course. The 2020 update includes some new topics, such as the use of assumed business names and professional accreditations, along with a look into Securities regulation in Oregon and how it affects the mortgage loan professional.

Plus, we'll look at some of the basic topics for MLOs, including:

  • A look at the mortgage lending regulatory scheme including the Oregon state and national SAFE Acts
  • Licensing and renewal requirements for mortgage loan professionals
  • Mortgage loan origination practice basics and updates
  • Important disclosures and advertising regulations, and 
  • Some specifically prohibited practices
  • Course ID(s): 12073 & 12104
  • 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.