1 Hour WA SAFE 2023 State Law Course CE
- 1 Hour Course
This 1 hour course on Washington State's laws, rules, and regulations fulfills the state-specific content requirement for annual renewal. Licensed mortgage loan originators in the state must take 9 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, a 1 hour elective, and 1 hour of Washington Law.
Washington’s requirements are as follows:
- 3 hours of Federal law
- 2 hours of Ethics
- 2 hours of Non-Traditional Mortgage Lending
- 1 hour Elective
- 1 hour of Washington state-specific defined electives.
Total CE: 9 hours
In the first module of this course, we’ll begin with an overview of Washington's regulatory codes and the differences between various loan professionals in the industry. Then, we’ll review the qualifying activities which require licensure as an MLO and the importance of the Consumer Loan Act (RCW 31.04) and the responsibilities of the Department of Financial Institutions.
In the second module, we will discuss prohibited practices, DFI’s investigative and enforcement authority, and the possible penalties for violations. Next is a look at the state-specific one-page disclosure summary and its requirements. Finally, we will highlight a bit of fair lending news from a recent Department newsletter, and share a real world enforcement action involving a Washington-licensed MLO. This and other relevant case studies will emphasize the importance of best practices in the industry, plus the information will show what can happen when mortgage professionals neglect public interests for their own gain.
To promote comprehension, students will complete a 5-question quiz and a short activity after each module. A 15-question final exam will wrap up the course.
Show Course ID: 1
- Course ID(s): 15102
- Approved By: NMLS
Mary Tillery, an originating branch manager at Synergy One Lending in Grants Pass, Oregon, believes that buying a home is one of life’s true milestones. For more than 35 years, she has been teaching lending education classes and helping homebuyers achieve their dreams. Mary combines her love of knowledge with her passion for people in her roles as a loan originator and educator. From first-time mortgages to complex construction financing, she is happy to share her expertise with clients and industry professionals alike.