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9 Hours of 2022 Washington MLO Continuing Education

Washington CE 9 Hours Online Self-Study Bundle

Complete 9-hour package for WA MLO licensees. Includes the DFI 1-hour state specific requirement

Complete these Washington loan originator continuing education courses to renew your MLO license before the December 15, 2022 deadline.
$55.50

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Included Standard:

Online Course Includes Video Printable Certificate PDF & EPUB eBook WA Elective

Optional Add-Ons:

Read-Along Audio MP3

Key Features:

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.

WA Elective

Includes state-specific elective course

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)

This course package satisfies the 9 hours of continuing education required for mortgage loan originators licensed in the State of Washington. The Washington MLO continuing education courses included in this package are:

  1. 1 Hour WA SAFE: Washington Mortgage Continuing Education (NMLS ID 13800) - This course covers the acts and practices that Washington mortgage licensees are prohibited from participating in as well as the actions that a licensee is allowed to participate in. Please review the Course Syllabus for details about this course.

  2. 8 Hour SAFE Comprehensive: 2022 Originator Essentials (NMLS ID 13767) - This course covers the required topics as mandated by the federal SAFE Act for annual NMLS mortgage license renewal. The content covered in this course include the NMLS-required topics that regulators feel licensees need to be refreshed on; a review of ethical lending practices and descriptions of common mortgage fraud schemes; an explain of nontraditional products such as the HomeStyle Renovation Loan, the Good Neighbor Next Door program, reverse mortgages, and the VA Home Loan; and a discussion on property appraiser independence rules. Please review the Course Syllabus for more details about this course.

These courses are new for 2022 and meet the SAFE Act's "successive years" rule.

Package Summary

Price: $55.50 (USD)
+ $13.50 NMLS Credit Banking Fee
Credit Hours: 9
Category: Mortgage > Continuing Education > Washington
Purpose: Complete 9-hour package for WA MLO licensees. Includes the DFI 1-hour state specific requirement
Features: Online Text, Online Video, Printable Certificate, PDF eBook, WA Elective

Courses Provided By:

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

mail@onlineed.com

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:

1 Hour WA SAFE: Washington Mortgage Continuing Education

NMLS Course ID: 13800

NMLS Sponsor ID: 1400327

Credit Hours Provided: 1

Category: CE Elective

View Course Syllabus

This course will cover many prohibited acts that Washington mortgage loan originators must be familiar with when practicing mortgage loan activities within the state. Students will learn what actions are prohibited by the Revised Code of Washington and the Washington Administrative Code.

After being instructed on what not to do, students will be presented with a list of subjects that they must do during their business. This includes what to do when working for more than one mortgage broker, how to properly use trade names, and licensing of main and branch offices.

Lastly, students will review the Washington required disclosures that must be given to loan applicants.

Topics and Learning Objectives

This MLO 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. Prohibited Practices (20 minutes)
  2. Permitted and Mandatory Acts (13 minutes)
  3. Disclosure Requirements (7 minutes)
  4. Final Exam (10 minutes)

Total study time: 1 credit hour (50 minutes)

This course will prepare Washington MLOs to:

  • Understand what conduct is prohibited by laws such as the Washington Consumer Loan Act (CLA) and the Washington Mortgage Broker Practices Act (MBPA).
  • Know what conduct is not permitted when working with a buyer on a residential loan modification.
  • Recognize the classes of individuals that are protected by Washington's discrimination laws.
  • Understand what a fiduciary is and how a broker or mortgage loan originator is a fiduciary for a borrower.
  • Understand how a mortgage broker or mortgage loan originator is compensated, and what the rules governing compensation are.
  • Identify what must be disclosed to a borrower.

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: 2022 Originator Essentials

NMLS Course ID: 13767

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. Maintaining Compliance in the Mortgage Industry

  2. Ethical Practices and Common Fraud Schemes

  3. Non-traditional Mortgage Products

  4. Complying with Appraisal Independence Requirements

  5. Final exam

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

Module 1: Maintaining Compliance in the Mortgage Industry

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

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.

Module 2: Ethical Practices and Common Fraud Schemes

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

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.

Module 3: Non-traditional Mortgage Products

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

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.

We'll go over the Fannie Mae HomeStyle® renovation program, the Good Neighbor Next Door program, reverse mortgages, the VA loan, and Fannie Mae's new RefiNow™ program.

Module 4: Complying with Appraisal Independence Requirements

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

The fourth and last module illustrates the importance of appraiser independence requirements. We will review these 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

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.