This course on Utah-specific education fulfills 2 hours of annual continuing education for licensed MLOs in the state. A total of 10 hours must be completed each year, which includes 3 hours of federal law, 2 hours of non-traditional mortgage lending, 2 hours of ethics (including fraud, consumer protection, and fair lending issues), 1 hour of elective content, and 2 hours of Utah-specific education. This is a stand-alone course, and can be taken either on its own or in connection to other courses offered to fulfill your CE requirements.
This course is broken down into 2 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 course begins with an explanation of the regulating authorities in Utah, and what each agency's jurisdiction is. Then, we will look at recent changes to the Utah Residential Mortgage Practices and Licensing Act, which includes the 2018 amendments of House Bill 243. Following this, the course examines changes to the Utah Administrative Code Rules 162-2c.
We then take a quick look at the Utah High Cost Home Loan Act, and review Section 8 of the Real Estate Settlement Procedures Act, which prohibits the use of kickbacks or unearned fees. After this is a breakdown of the licensing and disciplinary actions of the last few years. The course finishes with recent developments and issues that are relevant to MLOs.
The course is completed with a final exam consisting of 15 questions randomly drawn from the class.
Show Course ID: 1
- Course ID(s): 10744
- Approved By: NMLS
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.