This 1-hour continuing education module discusses regulations for mortgage licensees under the Mortgage Broker Practices Act (MBPA) and Consumer Loan Act (CLA). It covers regulating loan originators and mortgage brokers, their office locations, and consumer loan companies. Reporting requirements, advertising restrictions, recordkeeping obligations, and the examination and enforcement authority of the Department of Financial Institutions are also reviewed. The module concludes by detailing various prohibited business practices that can result in license revocation or disciplinary action.

1. Module 2:
Regulating
Mortgage
Licensees - MBPA
& CLA
1-Hour WA SAFE Continuing
Education

2. Module 2: Regulating Mortgage
Licensees - MBPA & CLA
Regulating Licensees
 Regulating Loan Originators
 Regulating Mortgage Brokers
 Main and Branch Office(s)
 Regulating Consumer Loan Companies
 Main Office and Branch Locations

3. Module 2: Regulating Mortgage
Licensees - MBPA & CLA
Reporting, Advertising, and
Recordkeeping Requirements
 Reports and Notices
 Typical Changes That Require Notification
 Disclosure and Other Obligations
 Advertising Restrictions
 Identifying the Business in Advertisements
 Advertising on the Internet
 Recordkeeping

4. Module 2: Regulating Mortgage
Licensees - MBPA & CLA
Authority of the Director of the
Department of Financial Institutions
 Examinations and Investigations

5. Module 2: Regulating Mortgage
Licensees - MBPA & CLA
Authority of the Director of the
Department of Financial Institutions
 Enforcement Authority
 Prohibited Practices and Grounds for
Revocation
 Some of the Prohibited Business Practices
 Disciplinary Action - Violating the MPBA, CLA,
or Rules
 Partial List of Prohibited Actions
 Licensee’s Right to a Hearing