9 Hour Course
Show Course ID: 1
Course ID: 10749, 10741
Approved By: NMLS
The 9 hours of content in this course will fulfill all of the education needed to renew your West Virginia license.
This course is broken down into 5 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 national portion of the course will end with a 25 question final exam designed to test students on concepts from across the course.
Students then focus in on state-specific content. The first section covers the state's regulatory structures and the West Virginia SAFE Mortgage Licensing Act, with an emphasis on the 2018 amendments to the Act.
The second section reviews 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 a final 15 question quiz covering the second half of the course.