Every licensed and registered mortgage loan originator (MLO) in Washington must complete eight hours of standard annual renewal education. Our course incorporates four modules, each focusing on a major topic.

In the first module, we cover the laws and rules that affect all mortgage loans and MLOs, with a focus on Washington’s specifications. It includes a review of the SAFE Act, the Equal Credit Opportunity Act (ECOA), and Regulation Z. We also focus on 10 common violations identified by the Multi-State Mortgage Committee as mandatory topics for the 2024 core continuing education classes.

The second module centers on ethics and consumer protection and begins with business ethics and the responsibilities of financial professionals. Then, we talk about fair lending practices, as well as consumer protection, especially under the ECOA. Lastly, we discuss mortgage fraud in the United States and ways to spot and stop lending schemes.

Module three explores non-traditional mortgage options and their associated risks compared to the 30-year fixed-rate mortgage loan. We'll cover reverse mortgages, adjustable-rate mortgages (ARMs), counseling requirements, high-cost loans, and information on lending standards. Additionally, we’ll discuss other loan options, such as government programs and owner financing.

Lastly, the fourth module provides general information on renovation mortgage loans. The focus is on Fannie Mae HomeStyle® and FHA 203(k) renovation loans.

Complete each module with a quiz and assessment to demonstrate your understanding. Read a short case scenario and answer questions after each module. 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.