3 Hour OR SAFE 2018 State Law and Elective Course

This 3 hour Oregon continuing education course covers all of the requirements you will need to satisfy the last three hours for Oregon Mortgage Loan Originator license renewal, under the Secure and Fair Enforcement for Mortgage Licensing Act of 2008. This two-module course was created specifically for Oregon, covering the required 1 hour elective, as well as the required 2 hours of state-specific content, covering the SAFE laws and regulations, followed by Oregon's specific requirements for licensing, recordkeeping, advertising, disclosures, prohibitions, trust accounts, and more.

In module 1, you will have 1 hour of information pertaining to HELOCs, such as:

• A short explanation of what HELOCs are and how they pertain to the MLO

• A detailed analysis of the specifics of HELOCS, as well as the pros and cons

• Discussion of what to do to get out of a HELOC

• HELOC compliance for MLOs and lenders

• Discussion of changes to the Home Mortgage Disclosure Act

In Module 2, you will be provided with 2 hours of instruction in the required areas of SAFE law and regulations, alongside all of the information you will need for continued licensure as an MLO, which will include subjects such as:

• A detailed analysis of the history and application of the SAFE Act

• Discussion of the MLO licensing in Oregon

• A list of pertinent definitions for the MLO

• A short explanation of MLO application and renewal, as well as continuing education

• A brief look into the required notice of significant events

• An explanation of loan restrictions and requirements

• A brief overview of restrictions on negative amortization

• A detailed analysis of required recordkeeping procedures

• Discussion of client funds in escrow and trust accounts

• An overview of advertising requirements and prohibitions

• A detailed analysis of MLO prohibited activities

During the course, there will be in-text questions to help you gauge your knowledge while moving through the class, as well as activities in the form of case studies that follow each module to test your gathered knowledge.

There is also a final exam of 25 questions at the end of the class.