This Course Includes:
- OIL – 2 Hour Online WV SAFE PE – West Virginia State Law (2735)
This course covers West Virginia law and regulations pertaining to Mortgage Loan Originator licensing and is structured to reflect the outline of the West Virginia State License Exam. During this 2-hour pre-licensure course covering West Virginia mortgage law, we will cover several laws including:
Online Instructor Led (“OIL”). This education is delivered in the Online Instructor Led format as required by the NMLS for online Pre-Licensure (“PE”) education. It is available on our website through any internet connection.
Important NMLS specifications include:
• Defined start and end dates (See Course Calendar at top of page).
• Interaction with the instructor and students through forum activities
• Progression as a cohort. At times you will wait for instructor feedback before continuing.
(Note: This is not an “Self-Study” course and does not allow for study at any pace or without instructor/classmate interaction)
The course is divided into five sections:
Section 1: State Regulatory Agency – Covers the Regulatory authority, structure, and responsibilities and limitations of the relevant West Virginia regulatory agencies.
Section 2: State Law and Regulation Definitions – Summarizes the intent and purpose of each law, and provides a review of the unique definitions found therein.
Section 3: License Law and Regulations – Covers persons required to be licensed, licensee qualifications and the application process, the grounds for denying a license and license maintenance.
Section 4: Compliance – Details prohibited conduct and practices, required conduct, fees and charges, disclosures and agreements, advertising and trust account requirements.
Section 5: Disciplinary Action – Discusses notifications, hearings and appeals, then suspension, revocation and rescission of licenses, and finally, penalties/fines and civil and criminal liability.
Upon successful completion of this course you will have a strong understanding of the laws and regulations specific to mortgage loan originators and lenders in the state of West Virginia. You will also have the information needed to pass the West Virginia State Exam.