1 Hour WA SAFE: Washington Mortgage Continuing Education

​​​​​​​This course will cover many prohibited acts that Washington mortgage loan originators must be familiar with when practicing mortgage loan activities within the state. Students will learn what actions are prohibited by the Revised Code of Washington and the Washington Administrative Code.

After being instructed on what not to do, students will be presented with a list of subjects that they must do during their business. This includes what to do when working for more than one mortgage broker, how to properly use trade names, and licensing of main and branch offices.

Lastly, students will review the Washington required disclosures that must be given to loan applicants.

Topics and Learning Objectives

This MLO continuing education course is broken down into several learning topics. At the end of the course a 15-question final exam will be given. The topics included in this course are:

1. Prohibited Practices (20 minutes)
2. Permitted and Mandatory Acts (13 minutes)
3. Disclosure Requirements (7 minutes)
4. Final Exam (10 minutes)

Total study time: 1 credit hour (50 minutes)

This course will prepare Washington MLOs to:

• Understand what conduct is prohibited by laws such as the Washington Consumer Loan Act (CLA) and the Washington Mortgage Broker Practices Act (MBPA).
• Know what conduct is not permitted when working with a buyer on a residential loan modification.
• Recognize the classes of individuals that are protected by Washington's discrimination laws.
• Understand what a fiduciary is and how a broker or mortgage loan originator is a fiduciary for a borrower.
• Understand how a mortgage broker or mortgage loan originator is compensated, and what the rules governing compensation are.
• Identify what must be disclosed to a borrower.

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.

• 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.