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This 1-hour course on Pennsylvania laws and regulations fulfills the state elective requirement for annual renewal. Licensed mortgage loan originators in the state must take 8 hours of continuing education each year, with 3 hours being dedicated to Federal law, 2 hours of ethics, 2 hours of non-traditional mortgage lending, and this 1 hour of state-specific content. 

The course begins with an overview of the various regulating structures an MLO is governed by, including the Department of Banking and Securities, the NMLS, and the federal SAFE Act. We then look at the requirements set down by the Mortgage Licensing Act. These include license exemptions and requirements, general requirements like surety bonds and the unique identifier, and the types of practices an MLO is prohibited from engaging in. This last section is followed by an explanation of the director's authority to investigate and penalize licensees. To finish the course, students will review both the Loan Interest and Protection Law and the Housing Finance Agency Law.

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.

  • Course ID(s): 12947
  • 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.