Every licensed and registered mortgage loan originator (MLO) must complete eight hours of Wisconsin’s standard annual renewal education. Our four descriptive modules review all the necessary training topics. 

The first module covers national mortgage loan and MLO regulations. It includes a review of the SAFE Act, Regulation Z, and the Equal Credit Opportunity Act (ECOA), focusing on 10 common violations identified by the Multi-State Mortgage Committee as mandatory topics for the 2024 core continuing education classes.

The second module reviews business ethics and consumer protection, leading to the responsibilities of financial professionals. Then, we talk about consumer protection, specifically under the ECOA, and the significance of fair lending practices. Lastly, we discuss mortgage fraud and ways to spot and stop lending schemes and other forms of fraud.

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

Module four centers on the function of renovation mortgage loans. The focus is on Fannie Mae HomeStyle® and FHA 203(k) renovation loans.

Each module ends with an assessment and quiz. Students will read a short case scenario and then answer questions related to the covered material. The course concludes 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.