|
State Law |
|
The Mortgage Broker Practices Act-RCWs |
|
The Mortgage Broker Practices Act-WACs |
|
The Consumer Protection Act; |
|
The Escrow Agent Registration Act,
chapter 18.44 RCW; |
|
Trust Account requirements
provided in the Mortgage Broker Practices Act |
|
Record keeping requirements
provided in the Mortgage Broker Practices Act |
|
Mortgage, deed of trust, and real estate
contract statutes set forth in Title 61 RCW; |
|
Washington principal and agent law; |
|
Real estate and appraisal law, including without
limitation, the provisions of chapters
18.85 and
18.140 RCW; |
|
WA State Usury Law |
| General Industry
Knowledge |
| Arithmetical computations common to mortgage
lending including without limitation, the
computation of annual percentage rate, finance
charge, amount financed, payment and amortization; |
|
Ethics in the mortgage industry |
|
Property type, loan programs,
occupancy classes, types of documentation |
|
Federal Law |
|
The
Federal Real Estate Settlement Procedures
Act, |
|
Truth in Lending Act |
|
Regulation Z of the TILA |
|
Equal Credit Opportunity Act |
|
Fair Credit Reporting Act |
|
Fair Housing Act |
|
Home Mortgage Disclosure Act |
|
Community Reinvestment Act |
|
Gramm Leach Bliley Act |
Alternative Mortgage
Transaction
Parity Act |
|
Home Mortgage Disclosure Act |
|
Telemarketing & Consumer Fraud
& Abuse Act |
|
Home Owners Equity Protection
Act |
|
Bank Secrecy Act |
|
US Patriot Act |
|
Private Mortgage Insurance Act |
SCHEDULE OF UPCOMING CLASSES
|
Loan Originators:
90 questions
Mortgage Brokers: 125
questions
Both exams will contain 10
pre-test questions that are
not counted toward the
score.
The exam content is
distributed as follows:
|
State Law |
Loan Originators: 54%
Mortgage Brokers: 61% |
| General Industry
Knowledge |
Loan Originators: 11%
Mortgage Brokers: 9% |
|
Ethics |
Loan Originators: 4%
Mortgage Brokers: 4% |
|
Federal Law |
Loan Originators: 31%
Mortgage Brokers: 26% |
|
