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1 Hour WA SAFE CE: WA Consumer Loan Act and Mortgage Broker Practices Act
NMLS Course Number: 1867
Online mortgage training from AllRegs.
AllRegs Academy’s 1 Hour WA SAFE CE: WA Consumer Loan Act and Mortgage Broker Practices Act course satisfies 1 hour of NMLS approved continuing education in the State category for Washington.
Are you a State Licensed Mortgage Loan Originator in Washington State, and still need to satisfy your NMLS training?
This self-study online course is designed to teach students the purpose and scope of the Washington Consumer Loan Act and Mortgage Practices Act as amended by 2608 SL. The course will clarify key terms as they pertain to the mortgage loan business in Washington and review the state’s specific licensee requirements including the requirements for mortgage lenders, mortgage brokers, mortgage loan originators and mortgage servicers. Students attending this course will know how these Washington laws impact their requirements for conducting mortgage loan business in the state of Washington and for maintaining licensure. Please note that the SAFE Act specifically prohibits the taking of the same course in successive years.
- To find out more about your state requirements, visit AllRegs' Continuing Education Resources.
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Learning Goals & Objectives
Upon completion of this course, you will be able to:
- Review the Nationwide Mortgage Licensing System (& Registry) “NMLS”
- Define key terms in CLA and MBPA
- Recognize licensee requirements and restrictions
- Identify license renewal process and requirements
- Identify penalties and enforcement of non-compliance
- Recognize relationship to other laws
- Nationwide Mortgage Licensing System & Registry (NMLS)
- Establishment of the NMLS
- Purpose of NMLS
- Objectives of the NMLS
- Consumer Access
- Washington Statute Citations and Authority
- Key Terms
- General Licensee Requirements
- General Licensee Prohibitions
- Mortgage Broker, Mortgage Loan Originator and Servicer Requirements
- Mortgage Broker, Mortgage Loan Originator and Servicer Prohibitions
- Servicer Authority
- Servicer Prohibition
- Third-Party Loan Modification Services Providers Authority
- Third-Party Loan Modification Services Providers Prohibitions
- License Renewal Process
- License Renewal Eligibility
- Continuing Education (CE)
- Out-of-State Licensees
- Surrender of a License
- Authority of Department
- Penalties and Enforcement
- Suspension, Revocation or Refusal
- The Consumer Loan Act, the Mortgage Broker Practices Act, the 2608 SL and Other Laws
- Washington State Licensed Mortgage Loan Originators
- Loan Originators
- Loan Officers
- Mortgage Brokers
Each self-paced, self-study course examines a particular topic, allowing students to hone in on a focused set of learning concepts. Each course is designed with learning objectives, comprehensive course materials, learning reinforcement activities that appeal to various learning styles and real world examples, with audio and/or video recordings of industry experts.
The final exam is completed online with instant grading, and you can download your industry-recognized certificate of completion after you successfully pass the course. While course completion time varies per student, it will take approximately one hour to complete this course.
Tuition & Registration
This title is of one of the courses available in the Continuing Education Library site-based subscription program!
Starting at just $795 per site*, you and the staff at your location can access all available courses** for a 12-month period. View full list of courses.
Students have 12 months from the registration date to complete the course. Upon successful completion of the course, students can download their industry-recognized certificate of completion and transcript.
NOTE: The SAFE Act specifically prohibits the taking of the same course in successive years.
*Allows for up to 250 employees at one site location.
**Excludes AllRegs Education Package, the Fraudulent Identity Document Library Courses and FICO Pro Certification courses, including the FICO Credit Scores course.
For more information or to register by phone, call your Regional Account Executive
at (800) 848-4904 or email firstname.lastname@example.org.