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10 Hours of 2021 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, 2021 deadline.

Add To Cart

Included Standard:

Online Course Includes Video Printable Certificate PDF & EPUB eBook

Optional Add-Ons:

Read-Along Audio MP3 8-hour SAFE Video Version

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 (+$5.00)

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)

8-hour SAFE Video Version
Optional Add-On (+$20.00)

Swap the reading material for video content with this special option. The video content complies with all NMLS requirements and has been approved as NMLS Course ID 12998.

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 (NMLS ID 12782) - 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: 2021 Originator Essential (NMLS ID 12708) - 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 the NMLS-required topics of the Truth in Lending Act, the Equal Credit Opportunity Act, and various miscellaneous regulations; a review of laws that regulate the advertisement of mortgage products; an explain of nontraditional products such as to 203(k) loan, energy efficient mortgage, and the HomeReady® loan program; and an in-depth look at the new URLA form changes. Please review the Course Syllabus for more details about this course.

These courses are new for 2021 and meet the SAFE Act's "successive years" rule.

An all-video version of the National course is available! The video-version of 8 Hour SAFE: 2021 Originator Essentials covers the same content as the text version. The video course complies with all NMLS timing requirements and has been reviewed and approved by the NMLS as NMLS Course ID 12998. Please see the Course Syllabus for more information. Students will need to have audio-playback capabilities to listen to the video version of this course.

Package 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:

7405 SW Beveland Rd,
Portland, OR 97223
(503) 670-9278

NMLS Course Provider ID: 1400327

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

NMLS Course ID: 12782

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 mortgage loan originator renewal license 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: 2021 Originator Essentials

NMLS Course ID: 12708

NMLS Sponsor ID: 1400327

Credit Hours Provided: 8

Category: CE Comprehensive

View Course Syllabus

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 and a final exam

  1. Federal Mortgage-Related Laws

  2. Ethical Mortgage Advertisement Practices

  3. Non-traditional Mortgage Products

  4. The Redesigned Universal Residential Loan Application (URLA)

  5. Final exam

Total study time: 8 credit hours (6 hours, 40 minutes)

Module 1: Federal Mortgage Related Laws

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

  • Equal Credit Opportunity Act (45 minutes)

  • Truth in Lending Act (70 minutes)

  • Miscellaneous Provisions (35 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 as mandated by the NMLS. 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.

We'll start this module covering the adverse action notice requirements of the Equal Credit Opportunity Act, 12 CFR 1002. Examiners are discovering that applicants are not receiving proper notification of adverse actions taken based on the information on their loan applications.

Next, we'll review several provisions of the the Truth in Lending Act. Specifically, we'll cover 12 CFR 1026.19 regarding proper disclosure of fees on the Loan Estimate and Closing Disclosure; 12 CFR 1026.25 regarding record keeping requirements; 12 CFR 1026.36 regarding the delivery of the special information booklet and NMLS ID disclosure requirements; and 12 CFR 1026.38 regarding proper disclosure of settlement costs.

Lastly, we'll review several miscellaneous NMLS topics: adverse action notices under the Fair Credit Reporting Act (15 USC 1681(m)), the Department of Veterans Affairs VA Circular 26-14-10, consumer consent to receiving digital records under the ESIGN Act (15 USC 7001), and the reporting requirements under the Home Mortgage Disclosure Act (12 CFR 1003).

Module 2: Ethical Mortgage Advertisement Practices

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

  • The Mortgage Acts and Practices Advertising Rule (45 minutes)

  • TILA and RESPA Advertising Rules (20 minutes)

  • FTC Advertising Rules and Case Study (35 minutes)

This module is written with a focus on consumer protection. Most, if not all of the regulations of the mortgage and banking industry are implemented to protect the consumer. In this module you'll be provided with a better understanding of laws that protect consumers from untruthful mortgage advertising. Understanding what you can and cannot do in regard to advertising loan products is vital when dealing with the public and promoting your services. As an advocate for your customer it is up to you to be diligent in your understanding of the laws and regulations affecting our industry, how they affect you in your business, and how to adhere to them for compliance and consumer protection.

Module 3: Non-traditional Mortgage Products

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

  • The FHA 203(k) – A Program for Property Rehabilitation (30 minutes)

  • Energy Efficient Mortgage Programs (45 minutes)

  • Fannie Mae's HomeReady® Loan Program (25 minutes)

Besides a traditional conventional loan product, there are other options available when it comes to rehabilitating a home for purchase and refinance that may more perfectly fit the rehab loan needs of the borrower. This module will explain several non-traditional mortgage products, exploring other options available to borrowers such as the Federal Housing Administration's 203(k) property rehabilitation loan, four types of energy efficient mortgage products, and the Fannie Mae HomeReady® rehab loan product.

Module 4: The Redesigned Uniform Residential Loan Application

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

As you’re presumably aware, the Uniform Residential Loan Application (URLA), referred to as Fannie Mae form 1003 and Freddie Mac form 65, has been redesigned to better fit today's consumers' needs. The purpose of this module is to familiarize the mortgage loan originator with the new forms.

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.

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