Oregon NMLS-Approved Mortgage Continuing Education

Understanding Origination Regulations 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 TILA-RESPA Integrated Disclosure Rule, including a look at the Loan Estimate and Closing Disclosure, as well as several laws that reinforce ethical obligations of mortgage licensees like Regulation N and the Bank Secrecy Act. Students will also review rules for the origination of FHA and VA loans.

This course will focus on the laws and rules that regulate mortgage loan originators, bankers, and brokers doing business in Oregon. Throughout this course, students will review fictionalized scenarios based on real regulatory decisions made by the Department of Consumer and Business Services in recent months, paired with a discussion of the relevant sections of Oregon laws and regulations. In Module 1, students will review standards for obtaining and maintaining a license and requirements related to recordkeeping and reporting, disclosures, fees and charges, and advertising. In Module 2, students will look at prohibited conduct for licensees, including a look at the Oregon Unlawful Trade Practices Act and the Mortgage Rescue Fraud Prevention Act, as well as disciplinary action that may be taken when violations of the law occur.

This course will focus on the laws and rules that regulate mortgage loan originators, bankers, and brokers doing business in Oregon. Throughout this course, students will review fictionalized scenarios based on real regulatory decisions made by the Department of Consumer and Business Services in recent months, paired with a discussion of the relevant sections of Oregon laws and regulations. In Module 1, students will review standards for obtaining and maintaining a license and requirements related to recordkeeping and reporting, disclosures, fees and charges, and advertising. In Module 2, students will look at prohibited conduct for licensees, including a look at the Oregon Unlawful Trade Practices Act and the Mortgage Rescue Fraud Prevention Act, as well as disciplinary action that may be taken when violations of the law occur.

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 Oregon. This course is NMLS-approved for ten hours of continuing education required for Oregon mortgage loan originators, as specified by the S.A.F.E. Mortgage Licensing Act and Oregon law. Annual S.A.F.E. Act continuing education requirements for Oregon loan originators include three hours of federal law, two hours of ethics, two hours of nontraditional mortgage lending, one hour of elective, and two hours of Oregon-specific laws and regulations, for a total of ten hours.