The content for this course is the same as course ID 7459 and is intended to satisfy CE requirements for 2018 or the last year a mortgage loan originator held an active license. Mortgage loan originators who take this Late CE course are prohibited from taking course ID 7459 in 2019.
This course will focus on the laws and rules that regulate mortgage loan originators doing business in Washington. In Module 1, students will examine the authority of the Washington Department of Financial Institutions, as well as required conduct for mortgage licensees, including the duty of good faith owed to consumers and notification and disclosure requirements. In Module 2, students will review prohibited practices for licensees, including practices prohibited by the Mortgage Broker Practices Act, as well as prohibited practices found in other areas of Washington law which pertain to mortgage loan originators. Students will also take a look at disciplinary action which may be taken when a licensee violates the law.
This course satisfies the one-hour Washington-specific continuing education requirement for loan originators, as specified by Washington law. In addition to one hour of Washington-specific education, annual S.A.F.E. Act continuing education requirements include three hours of federal law, two hours of ethics, two hours of nontraditional mortgage lending, and one hour of elective.