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4 Hour WV SAFE: West Virginia Mortgage Lending Laws

West Virginia Pre-License 4 Hours Online Self-Study PE Elective

Mandatory West Virginia-specific component for DFI mortgage licensee applicants.

Required course to become a licensed mortgage loan originator in West Virginia. Self-paced. NMLS-approved. Price match guarantee!

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Included Standard:

Online Course Online Audio PDF & EPUB eBook Printable Certificate

Key Features:

Online Course

All learning is online. Start immediately. Learn on your own schedule.

Online Audio

Read-along audio plays the course text back to you.

PDF & EPUB eBook

Includes PDF/EPUB eBook of all reading material for your tablet or Kindle.

Printable Certificate

Download and print your own certificate.

This course presents West Virginia law and rule requirements relating to originating mortgage loans securing residential real property located throughout the state of West Virginia. The purpose of this training is to prepare West Virginia Mortgage Loan Originator license candidates with the necessary information to ensure fair, ethical, and compliant mortgage loan origination activities.

Package Summary

Price: $49.00 (USD)
+ $6.00 NMLS Credit Banking Fee
Credit Hours: 4
Category: Vocational Training > Mortgage > License Training > West Virginia > PE Elective
Purpose: Mandatory West Virginia-specific component for DFI mortgage licensee applicants
Features: Online Text, Online Audio, PDF eBook, Printable Certificate

Courses Provided By:

14355 SW ALLEN BLVD STE 240,
Portland, OR 97223
(503) 670-9278

NMLS Course Provider ID: 1400327

Enrollment Agreement:

Purchase of this package requires that you read and acknowledge an Enrollment Agreement before receiving credit for any courses contained in this package. Please review the following:

4 Hour WV SAFE: West Virginia Mortgage Lending Laws

NMLS Course ID: 14026

NMLS Sponsor ID: 1400327

Credit Hours Provided: 4

Category: PE Elective

View Course Syllabus

This course is designed to prepare candidates to take the exam to become a state-licensed mortgage loan originator in West Virginia under the Division of Financial Institutions (DFI). This 4-hour course covers state-specific rules and regulations, and is required as part of the 24 hours of prelicensure education needed to become a West Virginia licensed mortgage loan originator.

Topics and Learning Objectives

This course consists of four modules and a final exam:

  1. The DFI, Disclosures, and Advertising (53 minutes)

  2. Conditions and Limitations for Certain Mortgage Transactions (38 minutes)

  3. Residential Mortgage Loans (16 minutes)

  4. Licensing (73 minutes)

  5. Final Exam (20 minutes)

Total study time: 4 credit hours (200 minutes)

Module 1: The DFI, Disclosures, and Advertising

The West Virginia Division of Financial Institutions (DFI) is the agency responsible for the supervision of mortgage loan originators, brokers, and lenders in our state. In this module, we'll introduce you to the agency that will authorize you to transact mortgage loan origination activities. We'll also cover the records that licensees must maintain to ensure compliance with West Virginia lending laws, and explain the requirements for properly advertising mortgage products and services.

Module 2: Conditions and Limitations for Certain Mortgage Transactions

When practicing mortgage loan origination, there are many rules to follow that are design to protect West Virginia consumers. In this module, we will explore some of those limited practices. We'll first explore the restrictions given to loans that are being refinanced within 24 months of their origination date, the restrictions on fees being charged to loan applicants, identify limitations on certain words as defined by West Virginia law, and discover appraiser requirements and the rules for timely distribution of loan funds.

Module 3: Residential Mortgage Loans

While there are certain types of loan transactions that have specific consumer protection restrictions, there are also protections applicable to all loans made on West Virginia property. This module will explain the standard prohibited practices when originating any loan in our state.

Module 4: Licensing

The West Virginia Residential Mortgage Lender, Broker, and Servicer Act, codified as West Virginia Code 31-17, establishes the requirements and exemptions as for whom a license to operate as a West Virginia mortgage lender or broker is required. A companion legislation, the West Virginia SAFE Mortgage Licensing Act (WV Code 31A-17) defines the requirements and regulations for mortgage loan originator licensing. In this module, we'll explore the requirements for licensure under both acts.

NMLS ID Required

You must have an NMLS ID to receive credit for this course. You will need this number before you begin the course.

If you already have an NMLS ID, but don't remember what it is:

  • Login into NMLS,
  • Click on the Composite View tab, then
  • Click View Individual on the sub-header row.
  • The number that appears in parentheses after your name is your NMLS ID number.

If you do not have an NMLS ID and need to obtain one, use the instructions available in the NMLS Resource Center

This course will remain available to students for 365 days after enrollment.

Our Mission Statement

To provide superior distance education that exceeds industry standards and expectations in course content and delivery methods to those who seek to enter a new profession and those engaged in a profession.