Every licensed and registered mortgage loan originator (MLO) in Oregon must complete eight hours of standard renewal education each year. There are four modules in the course, each focusing on a major topic.

Module one covers nationwide mortgage loan and MLO regulations. It includes a review of Regulation Z, the SAFE Act, and the Equal Credit Opportunity Act (ECOA), focusing on 10 common violations identified by the Multi-State Mortgage Committee as mandatory topics for the 2024 core continuing education classes.

The second module centers on ethics and consumer protection, with an emphasis on business ethics and the responsibilities of financial professionals. Then, we talk about consumer protection under the ECOA, and why fair lending practices matter. Lastly, we discuss mortgage fraud and ways to spot and stop lending schemes.

The third module explores the risks of non-traditional mortgage options and compares them to the 30-year fixed-rate mortgage loan. We'll cover reverse mortgages, lending standards, adjustable-rate mortgages (ARMs), high-cost loans, and counseling requirements. We’ll also discuss government programs, owner financing, and other loan options. 

In the fourth module, we describe renovation mortgage loans and explain when to use them. The focus is on Fannie Mae HomeStyle® and FHA 203(k) renovation loans.

A quiz ends each module. Students will read a short case scenario and then answer questions related to the covered material. The course will conclude with a 25-question final exam.

  • Course ID(s): 16204
  • 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.