4 Hour OR SAFE: Oregon Mortgage Lending Laws
Mandatory Oregon state-specific component for DCBS mortgage licensee applicants
All learning is online. Start immediately. Learn on your own schedule.
Read-along audio plays the course text back to you.
Includes PDF/EPUB eBook of all reading material for your tablet or Kindle.
Download and print your own certificate.
This course presents Oregon law and rule requirements relating to originating mortgage loans securing residential real property located throughout the State of Oregon. The purpose of this training is to prepare Oregon Mortgage Loan Originator license candidates with the necessary information to ensure fair, ethical, and compliant mortgage loan origination activities.
+ $6.00 NMLS Credit Banking Fee
|Category:||Mortgage > License Training > Oregon > PE Elective|
|Purpose:||Mandatory Oregon state-specific component for DCBS mortgage licensee applicants|
|Features:||Online Text, Online Audio, PDF eBook, Printable Certificate|
NMLS Course Provider ID: 1400327
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:
NMLS Course ID: 11174
NMLS Sponsor ID: 1400327
Credit Hours Provided: 4
Category: PE Elective
This course is designed to prepare candidates to take the exam to become a state-licensed mortgage loan originator in Oregon under the Division of Financial Regulations (DFR) under the Oregon Department of Consumer and Business Services (DCBS). This 4-hour course covers Oregon specific rules and regulations, and is required as part of the 20 hours of prelicensure education needed to become an Oregon mortgage loan originator.
This course consists of six modules and a final exam:
Total study time: 4 clock hours
In this module students will start out with an introduction to Oregon loan and lending terminology, recordkeeping time frames, and correcting data submitted to the Nationwide Mortgage Licensing System and Registry (NMLSR).
All mortgage professionals operating throughout the State of Oregon must be familiar with the processes, procedures, allowances, prohibitions, and requirements as set forth through ORS 86A. All licensing candidates should familiarize themselves with ORS 86A to ensure that they act compliantly throughout all their daily professional activities.
Licensed mortgage brokers and bankers are responsible for supervising the activities of the mortgage loan originators associated with their broker or banker license. In this chapter we'll introduce the licensing requirements for mortgage brokers and bankers, how mortgage brokers and bankers hire MLO licensees, branch office registration, proper use of assumed business names, and a licensee's reporting requirements to the NMLSR.
Individuals who desire to offer or negotiate residential mortgage loans with the expectation of compensation are required to be licensed as mortgage loan originators. In this chapter we'll explain the process of becoming licensed as an MLO, the annual license maintenance requirements, and status changes that need to be submitted to the NMLSR.
All licensees within this state are prohibited from participating in activities that are fraudulent, misleading, or deceptive towards consumers. This chapter will list the prohibited activities that may result in disciplinary actions against an Oregon licensee.
Funds supplied by a client during their residential mortgage loan transaction are to be handled by specific rules relating to trust funds. This chapter covers the regulations regarding caring for funds that belong to others.
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:
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.
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.