Licensed and registered mortgage loan originators in Oregon must finish eight hours of renewal education each year. This course, which is NMLS-approved, fulfills Oregon’s education requirement by covering specific core topics and an elective.
Below is an overview of each course module:
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%.
Show Course ID: 1
- Course ID(s): 15120
- Approved By: NMLS
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.