2 Hour WV SAFE 2021 State Law Course

This 2 hour course on West Virginia laws and regulations fulfills the state elective 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, and 2 hours of state-specific content. 

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, the Department of Revenue, and the Nationwide Mortgage Licensing System (NMLS). We then examine the WV SAFE Mortgage Licensing Act, and look at the 2020 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 recent industry-related news stories and an update on West Virginia's Electronic Surety Bond adoption status.

To promote comprehension, students will complete a 5-question quiz and short activity after each module. A 15-question final exam will wrap up the course.