Every licensed and registered mortgage loan originator (MLO) in Virginia must complete eight hours of standard annual renewal education. Our four modules are packed with important refresher topics. 

The first module covers the regulations surrounding mortgage loans and MLOs nationwide. It includes a review of the SAFE Act, Regulation Z, 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. 

Module two reviews business ethics and consumer protection, with a focus on financial professionals’ responsibilities. Then, we talk about consumer protection, especially under the, and why fair lending practices matter. Lastly, we discuss mortgage fraud in the United States and provide tips for stopping lending schemes and other forms of mortgage fraud.

In the third module, we review the risks of non-traditional mortgage options in comparison to the 30-year fixed-rate mortgage loan. Then, we dive into adjustable-rate mortgages (ARMs), reverse mortgages, counseling requirements, high-cost loans, and information on lending standards. Additionally, we’ll discuss other loan options like government programs and owner financing.

Lastly, the fourth module provides general information on renovation mortgage loans, such as what they are and when they can be used. The spotlight is on Fannie Mae HomeStyle® and FHA 203(k) renovation loans.

Each module will end with an assessment and quiz section. 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.