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9 Hours of 2019 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

$55.50
Add To Cart

Included Standard:

Includes Video Printable Certificate PDF & EPUB eBook

Optional Add-Ons:

Read-Along Audio MP3

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.

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

  1. 1 Hour WA SAFE: Prohibited Conduct and Permitted Acts (NMLS ID 10669) - 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: 2019 Originator Essentials (NMLS ID 10668) - This course covers the required topics as mandated by the federal SAFE Act for annual NMLS mortgage license renewal. The topics in this course are the TILA/RESPA Integrated Disclosure, RESPA Section 8 and Marketing Service Agreements, and ECOA [3 hours federal law]; Identity Theft Rules, Telemarketing Sales Rules, and SARS [2 hours ethics]; The VA home loan guarantee [2 hours mortgage loans]; and Appraiser Independence Rules [1 hour elective]. Please review the Course Syllabus for more details about this course.

These courses are new for 2019 and meet the SAFE Act's "successive years" rule.

Summary

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

1 Hour WA SAFE: Washington Prohibited Conduct and Permitted Acts

NMLS Course ID: 10669

NMLS Sponsor ID: 1400327

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 which 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 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)

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.

Total study time: 1 clock hour

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 purchase.

8 Hour SAFE Comprehensive: 2019 Originator Essentials

NMLS Course ID: 10668

NMLS Sponsor ID: 1400327

Hours Provided: 8

Category: 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:

  1. Federal Mortgage Related Laws
  2. Ethical Treatment of Consumers
  3. The VA Home Loan Program
  4. Complying with Appraisal Independace Requirements

Total study time: 8 hours

Module 1: Federal Mortgage Related Laws

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

  • TILA-RESPA Integrated Mortgage Disclosures Rule (TRID)
  • Other TILA Requirements for Mortgage Loans
  • RESPA Section 8 Summary
  • The Equal Credit Opportunity Act (ECOA)

In the first module of this course we'll review the TILA-RESPA Integrated Disclosure (TRID), covering the loan disclosure requirements of the Truth in Lending Act (TILA, 12 CFR 1026) and the Real Estate Settlement Procedures Act (RESPA, 12 CFR 1024). We'll review the types of loans the regulations are applicable to, the rate tolerances and permitted fees allowed by the rules, and changes that can be made to the Loan Estimate and Closing Disclosure. We'll also review Marketing Service Arrangements (MSAs) and the Equal Credit Opportunity Act (ECOA, 12 CFR 1002).

Module 1 Objectives

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

  • review the permissible fees and finance charges permitted under the Truth In Lending Act (TILA), codified as Regulation Z, and the Real Estate Procedures Act (RESPA), codified as Regulation X.
  • explain actions that must be taken when when finance charges on the initial Loan Estimate are overstated or understated.
  • outline the types of loans that are applicable to complying with the Integrated Disclosure Rules.
  • list additional Regulation Z regulations regarding open-ended and closed-ended credit.
  • recognize the risks associated with Marketing Services Agreements (MSAs) and potential RESPA violations.
  • examine the Equal Credit Opportunity Act, codified as Regulation B, and its rules relating to requesting information, evaluating applications, and extending credit.

Module 2: Ethical Treatment of Consumers

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

  • Identity Theft Rules
  • Telemarketing Sales Rules
  • BSA/AML Suspicious Activity Report Filing Requirements

The second module is written with a focus on consumer protection. We'll outline the Identity Theft Rules, 16 CFR 681, and the requirements covered entities have with protecting their customer's accounts. Then we'll examine the Telemarketing Sales Rules, 16 CFR 310, outlining deceptive and abusive practices when soliciting for business by cold-calling consumers. Finally, we'll summarize the BSA/AML Suspicious Activity Report filing requirements.

Module 2 Objectives

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

  • describe the FTC's Identity Theft Rules, which entities are required to comply with the rules, and the requirements for covered entities to establish an identity theft prevention program.
  • summarize the prohibited deceptive and abusive acts as outlined in the Telemarketing Sales Rules.
  • describe the information that should be included on a preliminary suspicious activity report.
  • recognize the penalties for failing to comply with Suspicious Activity Report filing requirements.

Module 3: The VA Home Loan Program

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

The third module covers unique mortgage product solutions for unique customers. This year we will examine the Department of Veteran Affairs VA home loan guaranty program, covering topics such as eligibility, occupancy requirements, refinances, underwriting, and how the guaranty benefits lenders.

Module 3 Objectives

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

  • Outline people, property and purposes that are eligible for VA loans.
  • Describe the various aspects of VA loans, including entitlement, guaranty, IRRRLs, and funding fees.
  • Explain what a lender must consider when underwriting a VA loan.

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.

Module 4 Objectives

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

  • Recognize the difference between an appraisal, a home inspection, and Broker Price Opinion (BPO).
  • Recall various definitions used in relation to property appraisals.
  • Outline the various prohibited actions that might be interpreted as adversely influencing an appraiser's conclusion of value.
  • Review the various actions that are not prohibited.
  • Explain the exceptions that would allow a follow-up appraisal to be conducted.

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 purchase.

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.