This course is designed to prepare candidates to take the exam to become a state-licensed mortgage loan originator in Hawaii under the Hawaii Division of Financial Institutions (DFI). This 3-hour course covers Hawaii specific rules and regulations, and is required as part of the 20 hours of prelicensure education needed to become a Hawaii licensed mortgage loan originator.

Topics and Learning Objectives

This course consists of three modules and a final exam:

1. The Hawaii SAFE Act 
2. Hawaii Interest and Usury 
3. Trade Regulations and Practices 
4. Final Exam 

Total study time: 3 credit hours (150 minutes)

Module 1: The Hawaii SAFE Act

The Hawaii SAFE Act establishes the processes and procedures under which licensed and registered residential mortgage loan originators conduct their operations throughout the State of Hawaii. Individuals desiring to practice and those who are actively practicing mortgage origination activities ultimately leading to the securitization of real property located throughout any of the Hawaiian Islands should be familiar with the requirements and prohibitions of Hawaii Revised Statute (HRS) Chapter 454F. This module will review some of the most important components of HRS § 454F.

Module 2: Hawaii Interest and Usury

In this section of the course we're going to review the regulations pertaining to maximum interest rates, the Hawaii interest and usury regulations, codified in Hawaii Revised Statutes Chapter 478.

Module 3: Trade Regulations and Practices

Unfair and deceptive practices are detrimental to consumers' confidence towards our industry. In this section we'll review unfair practices with respect to real estate transactions, mortgage deed of trusts, and real estate contracts.

NMLS ID Required

You must have an NMLS ID to receive credit for this course. You will need this number before you begin the course.

If you already have an NMLS ID, but don't remember what it is:

• Login into NMLS,
• Click on the Composite View tab, then
• Click View Individual on the sub-header row.
• The number that appears in parentheses after your name is your NMLS ID number.

If you do not have an NMLS ID and need to obtain one, use the instructions available in the NMLS Resource Center