Hawaii NMLS-Approved Mortgage Continuing Education

Maintaining Mortgage Industry Awareness provides a review of relevant issues facing mortgage loan originators today, specifically those outlined by NMLS as required topics for continuing education. Students will examine provisions of the Truth-in-Lending Act, the TILA-RESPA Integrated Disclosure Rule, and the Qualified Mortgage Rule, including issues related to considering the triggers, tolerances, and thresholds that enable loan originators to determine when disclosures are due and what information is required. In addition, students will take a look at the Real Estate Settlement Procedures Act, specifically rules related to lead agreements, marketing services agreements, co-marketing, desk licensing agreements, and affiliated business arrangements. Students will also review several nontraditional mortgage products, such as adjustable-rate mortgages and fixed-rate mortgages with terms of 15 and 40 years. Finally, students will review mortgage laws and regulations specific to the state of Hawaii. This course is NMLS-approved for eight hours of continuing education required for Hawaii mortgage loan originators, as specified by the S.A.F.E. Mortgage Licensing Act and Hawaii law. Annual S.A.F.E. Act continuing education requirements for Hawaii loan originators include three hours of federal law, two hours of ethics, two hours of nontraditional mortgage lending, and one hour of Hawaii-specific laws and regulations, for a total of eight hours.

This course will focus on the laws and rules that regulate mortgage loan originators and mortgage loan originator companies doing business in Hawaii. Throughout this course, students will review fictionalized scenarios based on real regulatory decisions made by the Division of Financial Institutions in recent months, paired with a discussion of the relevant sections of Hawaii law and regulations. In Module 1, students will review standards for obtaining and maintaining a license, required conduct, and advertising. In Module 2, students will look at prohibited conduct for licensees, as well as disciplinary action that may be taken when violations of the law occur.