8 Hours of 2025 Idaho MLO Continuing Education

​​​​​​​The Director of the Idaho Department of Finance (DOF) requires mortgage licensees in this state to take a one-hour course on Idaho mortgage lending rules as part of the licensees' annual continuing education requirement for license renewal. This course covers Idaho mortgage topics for licensee continuing education.

The first module of this course describes the organization of the Department of Finance and reviews several mortgage definitions outlined by the Idaho Residential Mortgage Practices Act (IRMPA).

The second module explains the acts and practices that are prohibited for mortgage loan originators to participate in. We'll discuss the maximum points and fees that can be charged to a borrower, review mandatory disclosures, and review advertising practices.

The third module is a summary of consumer protection regulations. We’ll take a look at prohibited acts and practices as outlined by the Idaho Financial Fraud Protection Act (IFFPA). We’ll also explore the mortgage recovery fund, which is set aside in cases when a licensee participates in activities that harms Idaho borrowers and the licensee is unable to pay restitution.

Topics and Learning Objectives

This course consists of three modules and a final exam:

1. Definition Review and the Idaho Department of Finance

2. Origination Activities

3. The IFFPA and Mortgage Recovery Fund
4. Final exam

Total study time: 1 credit hour (50 minutes)

This course will prepare Idaho-licensed MLOs to:

• Review important definitions, including those specific to the State of Idaho.

• Describe the basic structure of the Idaho Department of Finance (DOF) and the responsibilities of the Director.

• Recognize the actions the Director may take for violations of the Idaho Residential Mortgage Practices Act (IRMPA).

• Describe licensee prohibited conduct and practices.

• Identify points, fees, and charges that are permissible under Idaho and federal regulations pertaining to Qualified Mortgages (QMs).

• Classify disclosures that are required under the Idaho Residential Mortgage Practices Act.

• Identify common deceptive advertising and appraiser independence violations.

• Define financial fraud through a review of the Idaho Financial Fraud Prevention Act.

• Discuss how consumers financially impacted by a licensee's fraudulent actions can make a claim against the state's Mortgage Recovery Fund.

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.

This course will instruct mortgage loan originators on a number of regulations that they will have to comply with while taking part in their mortgage loan origination activities. Rules, such as those implemented by the Dodd-Frank Wall Street Reform and Consumer Protection Act, are set in place to protect the interest and well-being of consumers who apply for mortgages to purchase or refinance their properties. To ensure that their business practices satisfy the regulations adopted by federal laws, mortgage loan originators need to keep current on the guidelines published by supervising entities.

Topics and Learning Objectives

This course consists of three sections and a final exam:

1. Top 10 Federal Topics for 2025

2. Prohibited Kickbacks Under RESPA Section 8

3. Non-traditional Mortgage Products

4. Final exam

Total study time: 7 credit hours (5 hours, 30 minutes)

Module 1: Top 10 Federal Topics for 2025

Study Time: 3 clock hours (150 minutes of federal law)

Licensed and registered mortgage lenders, brokers, and mortgage loan originators are required to maintain a consistent and current understanding of all regulatory requirements with which they are obligated to comply. This especially applies to individual mortgage loan originators who, in addition to their sponsoring company, will be held accountable for failures discovered through regulatory examinations and investigations involving residential mortgage loans that they originate.

The topics outlined in this module are mandated by the NMLS and state regulators, covering the more egregious regulatory compliance failures recently discovered through various regulatory examinations, investigations, and audits.

Module 2: Prohibited Kickbacks Under RESPA Section 8

Study Time: 2 clock hours (100 minutes of ethics, fraud, and consumer protection)

The Real Estate Settlement Procedures Act (RESPA) was signed into law in 1974 and became effective in June 1975. One function of RESPA was to eliminate kickbacks and unearned fees initiated by those involved in loan settlement services. Before the passage of RESPA, parties associated with the buying and selling of real estate, including lenders, real estate agents, and title companies, often engaged in undisclosed kickbacks to each other, which inflated the costs of real estate transactions and often did not properly disclose all closing costs to consumers.

While RESPA contains various consumer protection regulations, in this ethics section we're going to concentrate on the regulation's prohibitions on kickbacks and referral fees.

Module 3: Non-traditional Mortgage Products

Study Time: 2 clock hours (100 minutes of non-traditional mortgage)

Besides traditional conventional loan products, there are other options available when it comes to rehabilitating a home for purchase or refinance that might be better for the needs of a borrower.

In this module, let's explore some unique mortgage products available to borrowers that may better fit their needs compared to a conventional mortgage loan These other options include the FHA 203(k) property rehabilitation loan, four types of energy efficient mortgage products, and the Fannie Mae HomeReady® rehab loan product.

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