The 8 hours of content in this course will fulfill all of the education needed to renew your Rhode Island license.

This course is broken down into 5 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
  • An assessment that consists of a five question quiz

The first module of the course focuses on federal laws and rules that apply to mortgage loans and mortgage loan originators. The federal regulations addressed in this portion of the course include the SAFE Act and the TILA-RESPA rule.

The second module of the course will cover ethics and consumer protection. Aside from ethics and ethical duties, this portion of the course will also talk about fraud in mortgage lending and fair lending practices.

The third module of the course will discuss non-traditional mortgage loan products like adjustable rate mortgages and reverse mortgages. Not only will this segment examine these types of mortgages, it will also look at some of the regulations governing them.

The national portion of the course will end with a 25 question final exam designed to test students on concepts from across the course.

The Rhode Island-specific segment of the course begins with a head-first dive into the Rhode Island Home Loan Protection Act, which is vital for MLOs to understand and follow. The Act works to reduce predatory lending practices in RI, and to protect consumers.

We next look at community obligations and banking offenses, through the subjects of title attorneys, title insurance, and real property mortgages. Each of these subjects come with many responsibilities and prohibitions that must be taken to heart. 

Finally, we will examine the Rhode Island Fair Housing Practices Act. This Act was created to protect specific classes of consumers. We will see which classes must be protected, and the penalties for violating the Act.

The course is completed with a final quiz consisting of 15 questions randomly drawn from the state-specific content.

  • Course ID(s): 11454 and 11475
  • 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.