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This course on West Virginia-specific education fulfills 2 hours of annual continuing education for licensed MLOs in the state. A total of 9 hours must be completed each year, which includes 3 hours of federal law, 2 hours of non-traditional mortgage lending, 2 hours of ethics (including fraud, consumer protection, and fair lending issues), and 1 hour of West Virginia-specific education. This is a stand-alone course, and can be taken either on its own or in connection to other courses offered to fulfill your CE requirements.

This course is broken down into 2 modules. Each module contains:

  • A section of training
  • An activity in which students will read a short scenario and then answer questions about the scenario
  • An assessment that consists of a five question quiz

The course begins with an explanation of the regulating authorities in West Virginia, and what each agency's jurisdiction is. Authorities discussed include the Division of Financial Institutions (DFI), the DFI's Mortgage Division, and the Nationwide Mortgage Licensing System and Registry (NMLS). We then examine the WV SAFE Mortgage Licensing Act, and look at the 2018 amendments to the Act.

After this, students will review relevant sections of the West Virginia Residential Mortgage Lender, Broker, and Servicer Act, the Good Funds Settlement Act, the West Virginia Consumer Credit and Protection Act, and the Administrative Code of State Rules: Title 106, Series 5. The course ends with an update on West Virginia's Electronic Surety Bond adoption status.

The course is completed with a final exam consisting of 15 questions randomly drawn from the class.

  • Course ID(s): 10741
  • Approved By: NMLS

Instructor Bio

Mary Tillery real estate atyourpaceonline instructor

Mary Tillery, loan originator and Sales Manager at Guild Mortgage, in Grants Pass Oregon, has been actively involved in home lending since 1986. She has originated everything from first time homebuyers, to complex construction financing and reverse mortgages, besides all forms of more traditional lending. Mary combines her depth of knowledge with a sincere desire to know, love and serve her clients. She has been teaching home buying classes for 20+ years and loves to share her knowledge with not just her clients, but with people in the industry who are interested in growing.