This Course Includes:
- OIL – 3 Hour Online DC SAFE PE – District of Columbia State Law (1702)
This course covers District of Columbia Law relevant to Mortgage Loan Originators (MLOs) and is structured to reflect the outline of the DC (DISB) License Exam. During this 3-hour pre-licensing course covering DC Mortgage Law, we will cover several laws including: DC Law 18-36 and 56, DC Regulation 4290; Title 26A of the amendments to Title 26A of the District of Columbia Municipal Regulations (DCMR), Chapter 11 for mortgage lenders, mortgage brokers and mortgage loan originators. This course will also discuss current licensing regulation.
This education is delivered in the Online-Instructor Led (“OIL”) format as required by the NMLS for online Pre-Licensure (“PE”) education. It is available on our website through any internet connection.
Important features include:
- Defined start and end dates (See Course Calendar above).
- 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 modules included are:
Section 1: DC Banking Department – Covers the Regulatory authority of the department, the department / agency structure and its responsibilities and limitations
Section 2: DC Law and regulation definitions – Introduces you to basics of DC Law & Regulation Definitions of Mortgage loans, fees, and obligations addressed in DC Law 18-36; 56 DC Regulation 4290; And Title 26A of the amendments to Title 26A of the District of Columbia Municipal Regulations (DCMR), Chapter 11, mortgage lenders, mortgage brokers and mortgage loan originators.
Section 3: License Law and Regulations – Covers Persons required to be licensed, licensee qualifications & 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 and advertising
Section 5: Disciplinary action – Discusses notifications, hearings and appeals, then suspension, revocation and rescission of licenses, then finally, penalties/fines and civil and criminal liability
Section 6: Unique New state test areas – In Section VI, we briefly discuss New DC real property law relating to the Home Loan Protection Act, which gives notice of DC’s intent to adopt an amendment to Title 26A DCMR, “Banking and Financial Institutions,” which added “Chapter 20 Predatory Lending.”
Upon successful completion of this course you will have a strong understanding of several of the laws and regulations specific to mortgage loan originators and lenders in the District of Columbia. You will also have a good background of information for taking the District of Columbia’s (DISB) Exam.