logo

Contact OnlineEd
(866)-519-9597


Find this page again at:
https://www.onlineed.com/catalog/184/Oregon-10-Hour-NMLS-CE

10 Hours of 2020 Oregon MLO Continuing Education

Oregon CE 10 Hours Online Self-Study Bundle

10-hour package for OR MLO licensees. Includes the DCBS 2-hour state specific requirement

Complete these Oregon loan originator continuing education courses to renew your MLO license before the December 31, 2020 deadline.
$65.50
Add To Cart

Included Standard:

Online Course Includes Video Printable Certificate PDF & EPUB eBook

Optional Add-Ons:

Read-Along Audio MP3

Online Course

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

Includes Video

Video segments highlight important points

Printable Certificate

Download and print your own certificate.

PDF & EPUB eBook

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

Read-Along Audio MP3
Optional Add-On

Have a narrator read the entire course to you as you make progress. You can also download the entire course in MP3 audio format. (National portion only)

This package of courses satisfies all 10 hours of required licensee continuing education for mortgage loan originators in Oregon. The courses included in this package are:

  1. 2 Hour OR SAFE: Oregon Mortgage Regulations and Rules (NMLS ID 11684) - This course covers the 2-hour state-specific category as required by the Oregon Department of Consumer and Business Services (DCBS). The topics of this course include a review of the DCBS, licensing laws, required disclosures, advertising rules, prohibited acts, and the DCBS investigation process. Please review the Course Syllabus for more details about this course.

  2. 8 Hour SAFE Comprehensive: 2020 Originator Essentials (NMLS ID 11655) - This course covers the required topics as mandated by the federal SAFE Act for annual NMLS mortgage license renewal. The topics in this course include conduct issues related to federal laws that are among the most frequently cited industry problems; a review of ethics in mortgage lending along with common mortgage fraud schemes; an explain of the benefits of the Fannie Mae HomeStyle® loan program; and a discussion about fair housing laws. Please review the Course Syllabus for more details about this course.

These courses are new for 2020 and meet the SAFE Act's "successive years" rule.

Summary

Price: $65.50 (USD)
+ $15.00 NMLS Credit Banking Fee
Credit Hours: 10
Category: Mortgage > Continuing Education > Oregon
Purpose: 10-hour package for OR MLO licensees. Includes the DCBS 2-hour state specific requirement
Features: Online Text, Online Video, Printable Certificate, PDF eBook

Courses Provided By:

OnlineEd
7405 SW Beveland Rd,
Portland, OR 97223
(503) 670-9278
mail@onlineed.com

Courses Included:

Terms of Service:

Purchase of this package requires that you read and acknowledge a Terms of Service agreement before receiving credit for any courses contained in this package. Please review the following:


Courses Included In This Package:

2 Hour OR SAFE: Oregon Mortgage Regulations and Rules

NMLS Course ID: 11684

NMLS Sponsor ID: 1400327

Credit Hours Provided: 2

Category: CE Elective

View Course Syllabus

This course will cover several fundamental state regulations that Oregon mortgage loan originators must be familiar with. Being familiar with important laws in Oregon's residential mortgage loan industry will ensure that mortgage loan originators are compliant with the state's expectations of MLO behavior.

This five-module course starts out with a description of the Department of Consumer and Business Services (DCBS) and its Division of Financial Regulations (DFR). We'll then review licensing requirements, financial statements, reporting changes to the DCBS, and MLO restrictions on working for a single entity in the second module of the course. The third module covers consumer disclosures in certain residential mortgage transactions, handling client trust funds, and regulations with advertising mortgage products. The fourth module covers various prohibited acts that licensees cannot participate in during the course of business, and the fifth module explains the DCBS investigation process.

Topics and Learning Objectives

This 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. Overview of the DCBS and DFR (8 minutes)
  2. Oregon Licensing Definitions and Requirements (22 minutes)
  3. Disclosures, Limitations, Client Funds, and Advertising (32 minutes)
  4. Prohibited Acts (13 minutes)
  5. DCBS Investigations (15 minutes)

Total study time: 2 credit hours

This course will prepare Oregon-licensed MLOs to:

  • Outline the structure of the DCBS and identify the ten divisions within the Department.
  • Describe the purpose of the DFR.
  • Identify Oregon’s definition of residential mortgage loan and how it differs from TILA.
  • Describe when a company may allow a MLO to originate Oregon loans.
  • Review the licensing prerequisites for mortgage lenders, mortgage brokers, and mortgage bankers.
  • Explain Oregon’s restriction on originating for more than one mortgage banker or broker.
  • Recognize the licensee’s obligations for keeping the NMLS record up-to-date and responding to deficiencies timely.
  • Discuss Oregon’s rate-lock disclosure form.
  • Identify the disclosures that are required to be provided in a language other than English.
  • Describe the limitations on negative amortization loans.
  • Discuss the special disclosure for reverse mortgage loans.
  • Explain new requirement for reverse mortgages in which lender must send a notice on property taxes unless the loan includes a reserve account for taxes.
  • Know that MLO is required to sign initial and final loan applications.
  • Explain the requirements for handling of client funds, including determining when funds are considered trust funds, refunds of funds as well as manner of deposit and disbursement of trust funds.
  • Know the requirement to keep copies of correspondents with applicants.
  • Demonstrate the advertising requirements and prohibitions.
  • Explain the definition of dishonest, fraudulent, unfair and unethical practices and prohibited activities for loan originators.
  • Define acts or conditions that could result in sanctions.
  • Outline various acts that mortgage licensees are specifically prohibited from participating in.
  • Describe the proper use of professional designations or certificates.
  • Outline the Director's authority over administrative hearings against licensees.
  • Describe the types of file the Director may request as part of an investigation.
  • List the fines and penalties that can be ordered against a guilty party.

Total study time: 2 clock hours

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

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

8 Hour SAFE Comprehensive: 2020 Originator Essentials

NMLS Course ID: 11655

NMLS Sponsor ID: 1400327

Credit Hours Provided: 8

Category: Comprehensive

View Course Syllabus

Course Description

This course will instruct mortgage loan originators on a number of regulations that they will have to comply with while taking part in their mortgage loan origination activities. Rules, such as those implemented by the Dodd-Frank Wall Street Reform and Consumer Protection Act, are set in place to protect the interest and well-being of consumers who apply for mortgages to purchase or refinance their properties. To ensure that their business practices satisfy the regulations adopted by federal laws, mortgage loan originators need to keep current on the guidelines published by entities such as the Consumer Financial Protection Bureau (CFPB).

Topics and Learning Objectives

This course consists of four sections:

  1. Federal Mortgage-Related Laws
  2. Ethical Practices and Common Fraud Schemes
  3. The Fannie Mae HomeStyle® Renovation Loan
  4. Fair Housing in Today's Market

Total study time: 8 credit hours 

Module 1: Federal Mortgage Related Laws

Study Time: 3 clock hours (150 minutes of federal law)

  • The Truth in Lending Act (55 minutes)
  • The Real Estate Settlement Procedures Act (20 minutes)
  • The Equal Credit Opportunity Act (ECOA) (45 minutes)
  • Privacy of Consumer Financial Information (GLBA) (20 minutes)
  • E-Sign Act (10 minutes)

Each year, the NMLS receives feedback from various agencies on problems and errors occurring in the mortgage industry. This feedback is then incorporated into your annual continuing education requirements. This module will cover a variety of conduct issues related to federal laws that are among the most frequently cited by examiners as industry problems.

When you have completed this section, you will be able to:

  • identify the required disclosures to be given to consumers under the Truth in Lending Act.
  • define the fees that qualify or are exempt from the TILA definition of finance charges.
  • describe the delivery time requirements for the Loan Estimate and the Closing Disclosure.
  • list the tolerance limitations on certain fees and whether those charges are made in good faith by the creditor.
  • identify advertisement trigger terms that require additional disclosures 
  • explain the steps a creditor will take to ensure the consumer has the ability to repay the transaction.
  • paraphrase RESPA's regulations on prohibited kickbacks and unearned fees.
  • reproduce the categories that creditors may and may not consider when evaluating the creditworthiness of an applicant.
  • outline what actions under ECOA will require an adverse action notification disclosure to be sent to an applicant.
  • describe a consumer's right to receive written items of valuation that were created in connection with their loan application.
  • recognize a financial institution's responsibility to provide a clear and conspicuous notice to costumers regarding their privacy policies and practices.
  • outline how consumers must give their consent to receive electronic versions of their records.

Module 2: Ethical Practices and Common Fraud Schemes

Study Time: 2 clock hours (100 minutes of ethics, fraud, and consumer protection)

  • Ethical Mortgage Lending Practices (50 minutes)
  • Mortgage Fraud (50 minutes)

In this section we will review ethics in mortgage lending and how they affect the mortgage industry. We'll discusses ethical practices and consumer protection responsibilities of the mortgage loan originator, and outline various ethical standards as they relate to a compliance approach of ethical lending. This section will provide you with checklists of possible red flags of mortgage fraud.

The second half of this section will outline a variety of mortgage fraud schemes. Many of the cases outlined in this section cost millions of dollars in losses for lenders, resulted in property foreclosures, and caused stress for those who were victims of these schemes. Some of these dubious plans involved mortgage loan originators and others in the industry, while others were perpetrated by loan applicants who recruited unsuspecting buyers. Reviewing various types of fraud that occurred in our industry may help you recognize it if a suspicious application ever crosses your desk.

When you have completed this section, you will be able to:

  • list and explain the fiduciary duties of a loan originator.
  • recognize unethical behavior in mortgage advertising, daily business, and processing of loans.
  • list the various red flags to potential money laundering or fraud.
  • identify specific types of mortgage fraud from case studies and examples.

Module 3: The Fannie Mae HomeStyle® Renovation Loan

Study Time: 2 clock hours (100 minutes of non-traditional mortgage)

In this module, we are going to explore mortgage rehabilitation loan products. This includes the FHA 203(k) Rehab Loan, the Fannie Mae HomeStyle® Rehab loan, and alternatives. We will discuss aspects of each program and how they compare to each other.

At the end of this module, you will be able to:

  • recognize the HSR qualifications for borrowers and property types.
  • describe how a lender can apply with Fannie Mae to offer the HomeStyle Renovation loan.
  • outline the steps necessary for a HomeStyle Renovation loan, from beginning to final inspection.
  • utilize the Maximum Mortgage Worksheet to apply for a HomeStyle Renovation loan.
  • compare the HSR loan to the FHA's 203(k), Streamlined 203(k), and Energy Efficient Mortgage.

Module 4: Fair Housing in Today's Market

Study Time: 1 clock hour (50 minutes of elective topics)

In this module, we will cover fair housing laws designed to protect consumers, your company, and yourself from discriminatory lending practices. Specifically, we are going to explore relevant provisions of fair housing and take a look at a few issues found in fair housing Law.

At the conclusion of this module, you will be able to:

  • identify discriminatory practices in the mortgage industry.
  • list the protected classes of individuals protected by fair housing.
  • define what is required to comply with fair lending in the mortgage industry.

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

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.