10 Hours of 2025 Oregon MLO Continuing Education

​​​​​​​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 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:

• Module 1: Overview of the DCBS and DFR
• Module 2: Oregon Licensing Definitions and Requirements
• Module 3: Disclosures, Limitations, Client Funds, and Advertising
• Module 4: Prohibited Acts
• Module 5: DCBS Investigations
• Final Exam

Total study time: 2 credit hours (100 minutes)

Module 1: Overview of the DCBS and DFR

The Oregon Division of Financial Regulation (DFR) is tasked with authorizing those who are working in the mortgage industry. The DFR is just one of several state agencies under the Department of Consumer and Business Services (DCBS). In this module we will review both agencies.

Module 2: Oregon Licensing Definitions and Requirements

In this module we'll go over general loan and licensing regulations. You'll review the licensing requirements for MLOs, mortgage bankers, mortgage brokers, and mortgage lenders, and understand when an individual is exempt from obtain a mortgage loan originator's license. We'll also go over financial records and reporting changes to licensee information to the DCBS.

Module 3: Disclosures, Limitations, Client Funds, and Advertising

Several disclosures are required to be given to consumers who are involved in a mortgage transaction. In this module we'll review consumer protections relating to certain types of residential mortgage loans. We'll also go over the licensee's responsibilities when accepting funds to be held in trust for the benefit of the borrower. We will also go over proper mortgage advertising practices.

Module 4: Prohibited Acts

In this module we'll review the various acts that licensees are prohibited from participating in as defined by Oregon law.

Module 5: DCBS Investigations

The Director of the Department of Consumer and Business Services has the authority to investigate potential Oregon law violations against mortgage licensees, invoke civil penalties and fines for discovered violations, and even order license suspension, revocation, or cease and desist orders. This module will review the investigation process available to the DCBS and possible sanctions against licensees for license violations.

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 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.

Topics and Learning Objectives

This course consists of four sections and a final exam:

1. Top 10 Federal Topics for 2025

2. Prohibited Kickbacks Under RESPA Section 8

3. Non-traditional Mortgage Products

4. Appraiser Independence Rules

5. Final exam

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

Module 1: Top 10 Federal Topics for 2025

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

Licensed and registered mortgage lenders, brokers, and mortgage loan originators are required to maintain a consistent and current understanding of all regulatory requirements with which they are obligated to comply. This especially applies to individual mortgage loan originators who, in addition to their sponsoring company, will be held accountable for failures discovered through regulatory examinations and investigations involving residential mortgage loans that they originate.

The topics outlined in this module are mandated by the NMLS and state regulators, covering the more egregious regulatory compliance failures recently discovered through various regulatory examinations, investigations, and audits.

Module 2: Prohibited Kickbacks Under RESPA Section 8

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

The Real Estate Settlement Procedures Act (RESPA) was signed into law in 1974 and became effective in June 1975. One function of RESPA was to eliminate kickbacks and unearned fees initiated by those involved in loan settlement services. Before the passage of RESPA, parties associated with the buying and selling of real estate, including lenders, real estate agents, and title companies, often engaged in undisclosed kickbacks to each other, which inflated the costs of real estate transactions and often did not properly disclose all closing costs to consumers.

While RESPA contains various consumer protection regulations, in this ethics section we're going to concentrate on the regulation's prohibitions on kickbacks and referral fees.

Module 3: Non-traditional Mortgage Products

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

Besides traditional conventional loan products, there are other options available when it comes to rehabilitating a home for purchase or refinance that might be better for the needs of a borrower.

In this module, let's explore some unique mortgage products available to borrowers that may better fit their needs compared to a conventional mortgage loan These other options include the FHA 203(k) property rehabilitation loan, four types of energy efficient mortgage products, and the Fannie Mae HomeReady® rehab loan product.

Module 4: Appraiser Independence Rules

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

Now, there isn't any doubt about it - the appraisal is a critical part of the financing process, not only for the borrower but also for the loan originator. The appraiser can be viewed as protecting the interests of both parties by ensuring that the subject property is accurately evaluated.

In this section, we will review the appraisal independence requirements as outlined by various federal regulations, agencies, and published guidance.

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