+ $1.50 NMLS Credit Banking Fee
|Purpose:||1-hour Idaho state-specific course for DOF-licensed mortgage loan originators|
|Features:||online text, printable certificate, PDF eBook|
|Category:||Mortgage > Continuing Education > Idaho > CE Elective|
7405 SW Beveland Rd,
Portland, OR 97223
1-hour Idaho state-specific course for DOF-licensed mortgage loan originators
NMLS Course ID: 7876
NMLS Sponsor ID: 1400327
The Director of the Idaho Department of Finance (DOF) requires mortgage licensees in this state to take a one-hour course on Idaho mortgage lending rules as part of the licensees' annual continuing education requirement for license renewal. This course covers Idaho mortgage topics for licensee continuing education.
The first module of this course describes the organization of the Department of Finance and reviews several mortgage definitions outlined by the Idaho Residential Mortgage Practices Act (IRMPA). We'll also summarize the Idaho regulations relating to initial mortgage loan originator licensing and how to maintain an active license.
The second module explains the acts and practices that are prohibited for mortgage loan originators to participate in. We'll discuss the maximum points and fees that can be charged to a borrower, describe the disciplinary actions that can be taken against licensees, including fines, and finally we'll summarize the Idaho Financial Fraud Protection Act (IFFPA) and its interpretation of financial fraud.
This course consists of two modules and a final exam:
Module 1: Idaho Department of Finance, Regulation Definitions, and State License Law (18 minutes)
Module 2: Compliance, Disciplinary Action, and the Idaho Financial Fraud Prevention Act (22 minutes)
Final exam (10 minutes)
Total study time: 1 clock hour
This course will prepare Idaho-licensed MLOs to:
Describe the basic structure of the Idaho Department of Finance (DOF) and the responsibilities of the Director
Review important definitions, including those specific to the State of Idaho
Recognize exemptions from licensing and registration regulations
Recall mortgage loan originator licensee qualification and application process and why an application may be denied
Outline the standards and process necessary to maintain a license
Describe licensee prohibited conduct and practices
Identify points, fees, and charges that are permissible under Idaho and federal regulations pertaining to Qualified Mortgages (QMs)
Classify disclosures that are required under the Idaho Residential Mortgage Practices Act
Identify common deceptive advertising and appraiser independence violations
Review disciplinary actions ordered by the Director
Define financial fraud through a review of the Idaho Financial Fraud Prevention Act
You must have an NMLS ID to receive credit for this course. You will need this number before you begin the course.
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