Late CE 1 Hour HI SAFE: Hawaii Mortgage Continuing Education (14920)

​​​​​​​This course is approved for "Late CE" credit only.

The Hawaii Department of Commerce and Consumer Affairs (DCCA) and its Division of Financial Institutions (DFI) requires mortgage licensees in this state to take a one-hour course on Hawaii mortgage lending rules as part of the licensees' annual continuing education requirement for license renewal. This course covers topics relating to Hawaii mortgage regulations.

This two-module course will cover the Hawaii SAFE Act and the Hawaii Mortgage Rescue Fraud Prevention Act.

In our first module we'll begin with a review of the DCCA and the DFI. We'll then cover the duties requires for a Qualified Individual and a Branch Manager, explain the oversight authority of the Commissioner of DFI, and list the prohibited conduct that licensees are not to do during their practice of residential mortgage loan origination.

In the second module we'll explain the purpose of the Hawaii Mortgage Rescue Fraud Prevention Act and the behavior expected of distressed property consultants, including contract requirements. We'll also cover the obligations of the consultant for conveying property and leasing the property back to the original homeowner. Finally we'll list prohibited conduct for distressed property consultants.

Licensees who do not complete their annual mortgage license training may be placed in a Reinstatement Period and are prohibited from practicing mortgage loan origination activities until their licenses are reactivated and their continuing education requirements have been completed. Licensees have until the end of February to bring their licenses up to date. A penalty Reinstatement Fee may apply when renewing your license. A license will expire if it is not renewed during the Reinstatement Period.

Not every state agency allows for reinstatement of a license. Check the Annual Renewal Information page on the NMLS website to verify if the agency you are licensed under allows for reinstatement, when the last date of reinstatement is, and what the applicable penalty fees may be.

• https://mortgage.nationwidelicensingsystem.org/slr/common/renewals/Pages/default.aspx

Topics and Learning Objectives

This Hawaii loan originator continuing education course is broken down into several learning topics. At the end of the course a 15-question final exam will be given. The topics included in this course are:

1. Hawaii Secure and Fair Enforcement for Mortgage Licensing Act 
2. Hawaii Mortgage Rescue Fraud Prevention Act 
3. Final exam 

Total study time: 1 credit hour (50 minutes)

This course will prepare Hawaii-licensed MLOs to:

• Review the structure of the Department of Commerce and Consumer Affairs (DCCA)
• Describe the purpose of the two departments within the Division of Financial Institutions (DFI)
• List the responsibilities expected of a branch manager.
• Identify the Commissioner's investigative and penalty assessment authority.
• Define who is a distressed property consultant.
• Recognize a distressed property owner's contract cancellation rights.
• Describe the requirements of the conveyed property owner if leasing the property back to the original owner.
• List distressed consultant prohibited activities.

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.
• 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.