Oregon SAFE 4 Hour | NMLS License

This class from Knowledge Coop covers a variety of NMLS-approved topics while covering how to prepare for and survive examinations and Oregon-specific laws that cover being able to articulate the prohibited acts for a mortgage loan originator licensed in Oregon. You'll know Oregon’s definition of a residential mortgage loan, and how it differs from TILA. We'll describe when a company may allow an MLO to originate Oregon loans. We'll explain Oregon’s restriction on originating for more than one mortgage banker/broker. You'll recognize the licensee’s obligations for keeping the NMLS record up-to-date and responding to deficiencies timely. We'll discuss Oregon’s rate-lock disclosure form. We'll identify the disclosures that are required to be provided in a language other than English. We'll describe the limitations on negative amortization loans. You'll discuss the special disclosure for reverse mortgage loans.

You'll know that MLO is required to sign initial and final loan applications. We'll explain the requirements for handling of client funds, including determining when funds are considered trust funds, refunds of funds as well as the manner of deposit and disbursement of trust funds. You'll know the requirement to keep copies of correspondence with applicants. We'll demonstrate the advertising requirements and prohibitions. We'll explain the definition of dishonest, fraudulent, unfair, and unethical practices and prohibited activities for loan originators. We'll discuss the use of assumed business names as set forth in OAR 441-860-0025.  We'll identify the limitations on the use of certifications or professional designations for mortgage loan originators included in OAR 441-870-0081. Finally, we'll look at case studies from your state.