This Course Includes:
- OIL – 4 Hour Online OR SAFE PE – Oregon State Law (5201)
This 4 hour course covers Oregon law and regulations relevant to Mortgage Loan Originators (MLOs) and is structured to reflect the outline of the Oregon Notice regarding Oregon State-Specific Pre-Licensure Requirements. This course covers Oregon Mortgage law that must be met as a condition for obtaining a MLO license with the Oregon Department of Consumer and Business Services beginning January 1, 2015.
The course is divided into six sections:
Section 1: Overview and Definitions. Outlines the purpose and authority of each law and sets forth definitions used throughout the required laws.
Section 2: Oregon DCBS / DFCS. Covers the Oregon Department of Consumer and Business Services, the Oregon Division of Finance and Corporate Securities, their departments, structure, responsibilities and limitations regulatory arms ensuring compliance.
Section 3: Oregon Law and Regulation Definitions. Covers overview of Oregon Laws and their definitions pertaining to mortgage loan originators including: Oregon Mortgage Lender Law, Oregon SAFE Act, and Oregon Administrative Procedures Act.
Section 4: Oregon License Law and Regulation. Covers requirements and qualifications for licensure, why a license would be denied, and license maintenance.
Section 5: Compliance. Covers prohibited conduct and practices, required conduct, fees and permitted charges, disclosures and agreements, advertising and trust account requirements.
Section 6: Disciplinary Action. Covers notifications, hearings, investigations and appeals, reasons for suspension and renovation of licenses, penalties and fines and civil/criminal liability.