9 Hour Course
Show Course ID: 1
Course ID: 10751, 10777
Approved By: NMLS
The 9 hours of content in this course will fulfill all of the education needed to renew your Washington license.
This course is broken down into 6 modules. Each module contains:
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 final national module explains reverse mortgages, and provides the mortgage loan originator with a solid foundation of knowledge on the subject. Topics covered are what reverse mortgages are, the proceeds that come from them, the regulations that govern them, and the scams to watch out for.
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 second section of the course deals with Washington rules and laws. It begins with a refresher on mortgage professional definitions, and moves into relevant sections of RCW 31.04, the Consumer Loan Act.
Following this is a section reminding licensees of the various types of prohibited conduct, and the consequences to follow. The course ends with an examination of the one page disclosure summary, according to the Washington Administrative Code (WAC).
The course is completed with a final quiz consisting of 15 questions randomly drawn from the course.