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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.

  • Course ID(s): 15102
  • 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.