The MLEB Board of Trustees is composed of 11 persons, eight mortgage lenders who operate under the provisions of ORS 59.840–59.980 and three who are industry advocates, i.e., mortgage bankers, wholesale representatives, correspondent representatives or consumer advocates. By definition, any reference to mortgage loan originators in this document refers to those statutes.

By January 1 of each year, the MLEB shall select one of its trustees as chairperson and another as vice chairperson, for such terms and with duties and powers necessary for the performance of the functions of such offices as the MLEB determines. Terms of each trustee shall be for two years.

Quorum

Six trustees of the MLEB board constitute a quorum for the transaction of business.

Registry

The MLEB shall meet no less frequently than quarterly to compile and publish a registry of the names and addresses of all entities certified by the MLEB to offer entry level and continuing education courses and to conduct any other business as determined by the chair. The annual registry shall be distributed to the public and licensees upon request.

Definitions

The following definitions are provided for the terms "Entry Level and Continuing Education":

(a) "Entry Level Education" means education that is creditable toward the education as required under ORS Chapter 59 for qualification as a Loan Originator

(b) "Continuing Education" means education that is creditable toward the education required under ORS Chapter 59 for maintaining qualification as an experienced Loan Originator.

Course Approval

(1) Courses shall be reviewed and approved under these rules as either Entry Level Education or Continuing Education. An experienced Loan Originator, as defined under ORS Chapter 59, does not need to take or pass an examination for Continuing Education credit. A qualified loan originator being one who has passed the entry level education requirements and testing described herein is eligible for continuing education credit without examination.

(a) An Entry Level Education Course must include a proctored examination, provide a minimum of 20 classroom hours of instruction (excluding examination time), and be consistent, in terms of content, with the Entry Level Education course content guidelines in these rules and the applicable statutes and administrative rules;

(b) A Continuing Education Course must include a minimum of one classroom hour of instruction and be consistent, in terms of content, with the continuing education course content guidelines in these rules.

(2) Course approval commences on the date initial approval is granted by the MLEB and shall be granted for a two year period.

(a) Course approval by the MLEB is not retroactive (applicable prior to the date approval is initially granted) because a previous offering of an approved course has not been reviewed under these rules.

(b) Previous offerings of an MLEB approved course may be approved at the discretion of the MLEB.

(3) Each approved course shall be assigned a maximum number of credit hours of instruction (including examination time if applicable.

(4) Each course shall be assigned a number to indicate approval.

(5) After receiving course approval, the course owner/affiliated entity (such as a state or local chapter of a national organization that owns a course) may represent in any advertising or other materials that the course is a MLEB approved course. Advertising must include course credit hours, course number, and the following statement:

This course is approved for __ hours of continuing (or entry-level) education credit by the Mortgage Lending Education Board.  However, this does not constitute an endorsement of the views or opinions expressed by the course sponsor, instructor, and authors. All students must be present for the entire course to receive credit.  Please arrive early.

(6)  Credit hours and classroom hours shall be the same. One credit hour equals 60 full minutes of course instruction time.

(7) Course approval granted to a course owner shall apply to any MLEB approved affiliated entity with the following conditions:

(a) The course owner requires the affiliated entity to conduct the course:

(b) The affiliated entity utilizes the owner's course materials (including textbook and examinations, if any); and

(c) Allows the same number of classroom hours as the course owner;

(d) In accordance with the course owner's policies relating to instructor qualifications, student attendance, course scheduling and course prerequisites (if applicable) provided those are no less than MLEB minimum requirements.

(e) The course owner assumes full responsibility in the event the affiliated entity violates any of the provisions of the MLEB approval.

(8)  Upon receipt of a complete application package, the MLEB will require a minimum of 30 days up to a maximum of 90 days to review the course and respond to the applicant.  The time period will be determined by MLEB based upon subject matter criteria and scheduling of MLEB meetings. Go to www.oregonmleb.com  and click on “contact us” to let MLEB know you have sent the package.  MLEB will e-mail back a confirmation once the course is received.

Eligibility for Course Approval

Any School, organization person or legal entity that owns the proprietary rights to a course is eligible to apply for course approval under these rules.  For purposes of these rules, the following are considered to be a "course owner":

(1) An entity that owns a course and that conducts the course directly and/or through affiliated entities.

(2) An affiliated entity of a course owner having MLEB approval where such affiliated entity conducts the same course, under the auspices of the course owner.

Sale and Transferability of Courses

Courses are not transferable and if a course is sold the new owner must have the course re–approved by MLEB.

Application Process

Course owners seeking initial MLEB approval shall make application on a form prescribed by the MLEB and submit all information required by the application form. An application must be complete before course reviewers will assign it for review.

(1) The MLEB shall exercise good faith efforts, in accordance with applicable law, to protect the confidentiality of course examinations or other proprietary material submitted by applicants as part of their course materials.

(2) Course providers shall not misrepresent MLEB approval status of their course in advertising. If an applicant violates this provision, the MLEB may suspend the review of the course in question.

Application Fees

MLEB will charge each legal entity seeking course approval a non–refundable submission review fee for administrative costs, which shall be $100 per credit hour.

Ineligible Courses

Courses presented by correspondence, videotape or remote television are not eligible for approval.

Criteria for Approval of Course as Entry Level Education

In order to be approved as entry-level education, the course shall be found to satisfy all the criteria described in this rule:

(1) Current Classroom offering—the course shall be a current offering of the course owner/affiliated entity that is presented by traditional classroom methods, on line and/or interactive telecasting.

(2) Course Length and Content—The course shall be a Residential Mortgage Lending course that provides a minimum of  twenty (20) classroom hours of instruction (excluding examination time when applicable) and must comply with the "Entry Level Education Course Content Guidelines" in these rules.

(3) Course Description—the course materials or syllabus must include a course description which clearly describes the content of the course.

(4) Summary Outline—the course materials or syllabus shall include a summary outline of major topics and the number of classroom hours devoted to each major topic.

(5) Learning Objectives—the course materials or syllabus shall include specific learning objectives which:

(a) Are appropriate for an Entry Level Education course;

(b) Clearly state the specific knowledge and/or skills students are expected to acquire by

 completing the course;

(c) Are consistent with the course description;

(d) Are consistent with the textbook and/or other instructional materials;

(e) Are reasonably achievable within the number of classroom hours allotted for the

 course.

(6) Work Assignments—the course materials or syllabus shall provide for in-class work assignments and/or out-of-class work/reading assignments, if necessary, to accomplish the stated learning objectives.

(7) Instructional Materials—Instructional materials to be used by students in the course shall:

(a) Cover the subject matter in sufficient depth to achieve the stated course learning

objectives;

(b) Provide appropriately balanced coverage of the subject matter in view of the stated

course learning objectives; may include a practice test.

(c) Reflect current knowledge and practice;

(d) Effectively communicate and explain the information presented;

(e) Be presented in a professional layout and format.

(8) Examination(s)—Course examinations shall consist of a proctored final examination with minimum 70% passing grade. The course examination(s) shall comply with the following criteria:

(a) The Course Provider shall supply a minimum of two hundred (200) exam questions

with course submission. One hundred (100) questions will be chosen from this pool for the proctored final examination(s). The questions must adequately test the subject matter covered in the course; a fee may be required.

(b) The amount of time devoted to the examination(s) is appropriate for the course;

(c) The examination questions, individually and collectively, test at a difficulty level

appropriate to measure student achievement of the stated course learning objectives;

(d) The subject matter tested by examination questions is adequately addressed in the

course instructional materials;

(e) The examination questions are written in a clear and unambiguous manner; 

(f) The examination questions are accurate and the intended correct answer is clearly the

 best answer choice.

(g) Final examination requirements are subject to change in the future by Statute.

(9) Instructor Qualifications—the course owner/affiliated entity shall keep records documenting that their instructors meet the MLEB qualifications as follows:

(a) Ten years of Residential Mortgage Origination or Residential Mortgage Lending

experience or possess professional expertise or demonstrated expertise of commensurate value in the subject matter as determined by the MLEB trustees and

(b) The instructor must have completed the “Entry Level Education courses”, or have

demonstrated they have met the entry level course educational requirements as defined by ORS Chapter 59, if it pertains to the subject matter being presented in any way, or be deemed qualified by the MLEB trustees.

(c) The course owner must hold a Private Career School License issued by the State of

Oregon, Department of Education.

(10) Attendance Policy—the course owner/affiliated entity shall have a written attendance policy that requires student attendance to be verified. It is the Course Providers’ responsibility to monitor attendance.  The attendance policy must:

(a) Stipulate that attendees, at a minimum, sign in at beginning of class, when they return from lunch break and at the end of class.

(b) Include, on the attendance records form, the instructor(s) name, the student’s

name, course approval number, approved hours and date of course.

(c) Provide that non-members of the course provider's association or organization may

attend the course without membership in that association;

(d) Provide for retention of attendance records for a minimum of six years.

(e) The provider’s attendance records are to be provided to MLEB within 30 days of

course completion in an electronic version.  Providers should go to www.oregonmleb.com, click on “contact us”, attach and send.

(11) Course Scheduling Policy—the course owner/affiliated entity shall:

(a) Have an established policy provides a maximum of eight (8) classroom hours of

instruction in any given day and appropriate breaks during each class session. (I.e. five (5) minutes per hour not to exceed 20 minutes.) A lunch break of not less than thirty (30) minutes is required for any course more than four (4) hours in length.

(b)  MLEB to be informed of any and all scheduled courses being offered, 30 days in

advance of the course offering date.  Go to www.oregonmleb.com, click on “contact us,” and list the scheduled date, time and place the course is being offered.

(12) Course Completion Policy—the course owner/affiliated entity may issue a letter of completion. However, the official MLEB completion certificate will be given to attendees upon successful completion of the required proctored examination for that course. The official MLEB certificate shall be issued by the examination proctor at the exam site.

(13) Course Completion Certificate---shall state the name of the course, examination date, number of classroom hours, whether there was successful passage of the course examination and the MLEB course assigned number.

(14) Audit Policy—the course owner/affiliated entity shall be required to permit the MLEB, or the MLEB representative, to audit the course and course material, at no cost to the MLEB or the MLEB representative. The audit shall measure and evaluate compliance with all of the criteria listed in (1) through (13) above. The course owner/affiliated entity shall permit the MLEB or the MLEB representative to review records appropriate to selected course offerings. The Course owner/affiliated entity shall be responsible for payment of audits conducted under this section, if applicable, not to exceed fifty $50 per hour.

(15) The MLEB may require other conditions be met.

Criteria for Approval of Course as Continuing Education

In order to be approved as continuing education, the course must satisfy all criteria described in this rule.

(1) Current Classroom offering—the course shall be a current offering of the course owner/affiliated entity that is presented by traditional classroom methods, on line and/or interactive telecasting.

(2) Course Length and Content—the course shall involve a minimum of one (1) classroom hour that meets the "Continuing Education Course Content Guidelines" in these rules. (see below)

(3) Course Description—the course materials or syllabus shall include a course description which clearly describes the content of the course.

(4) Summary Outline—if more than one major topic is to be covered in the course, the course materials or syllabus shall include a summary outline of major topics to be covered and the number of classroom hours devoted to each major topic.

(5) Learning Objectives—the course materials or syllabus shall include specific learning objectives which:

(a) Are appropriate for a continuing education course;

(b) Clearly state the specific knowledge and/or skills students are expected to acquire by completing the course;

(c) Are consistent with the course description;

(d) Are consistent with the textbook and/or instructional materials;

(e) Are reasonably achievable within the number of classroom hours allotted for the course.

(6) Instructional Materials—Instructional materials for students shall be provided unless the applicant demonstrates to the satisfaction of the MLEB that such materials are not needed to accomplish the stated course learning objectives. Any such instructional materials shall:

(a) Be appropriate in view of the stated course learning objectives;

(b) Reflect current knowledge and practice;

(c) Effectively communicate and explain the information presented;

(d) Be presented in a professional layout and format.

(e) Printed material may include a cover sheet with promotional information, however, all instructional materials must be presented WITHOUT company logos and advertising.

(f) May not advertise and/or promote a particular lender/provider.

(7) Instructor Qualifications—the course owner/affiliated entity shall keep records documenting that their instructors meet the MLEB qualifications as follows:

(a) Ten years of Residential Mortgage Origination or Residential Mortgage Lending experience and/or demonstrated an expertise in the subject matter as determined by the MLEB   

(8) Attendance Policy—the course owner/affiliated entity shall have a written attendance policy that requires student attendance to be verified. It is the Course Providers’ responsibility to monitor attendance.  The attendance policy must:

(a) Stipulate that attendees, at a minimum, sign in at beginning of class, at return from lunch breaks and at end of class.

(b) Include on the attendance records form the Instructor(s) name, the student’s name, course approval number, approved hours and date of course.;

(c) Provide that non-members of the association or organization may attend the course without membership in that association;

(d) Provide for retention of attendance records for a minimum of six years.

(d) The provider’s attendance records are to be provided to MLEB within 30 days of course completion in an electronic version.  Providers should go to www.oregonmleb.com, click on “contact us” attach and send.

(9) Course Scheduling Policy—If the course involves more than eight classroom hours, the course owner/affiliated entity shall have an established policy on course scheduling that provides for a maximum of eight (8) classroom hours of instruction in any given day and for appropriate breaks during each class session (i.e. 5 minutes per hour not to exceed 20 minutes). A lunch break of not less than thirty (30) minutes is required for any course more than four (4) hours in length. Provider to notify MLEB of all scheduled courses being offered, within 30 days in advance of the course offering date.  Go to www.oregonmleb.com, click on “contact us” and list the scheduled date, time and place the course is being offered. 

(10) Course Completion Policy—The course owner/affiliated entity shall have an established policy assuring prompt issuance of course completion certificates to attendees which should include information regarding the number of classroom hours, course name, date, name of student, whether there was successful passage of the course examination (if applicable) and the course number assigned to the course by the MLEB.

(11) Audit Policy—The course owner/affiliated entity shall be required to permit the MLEB, or the MLEB's representative, to audit the course and course material, at no cost to the MLEB or the MLEB's representative The audit shall measure and evaluate compliance with all of the criteria listed in (1) through (10) above. The course owner/affiliated entity shall permit the MLEB or the MLEB's representative to review records appropriate to selected course offerings. The Course owner/affiliated entity shall be responsible for payment of audits conducted under this section, if applicable, not to exceed $50/hour.

(12)  Other conditions as required by the MLEB.

 Denial of Approval by the MLEB

 The MLEB shall, upon receipt of the course, review the Course Submission Checklist as prepared by the Course Provider.  If there are deficiencies, the MLEB will notify the Course Provider.  The Course Provider will have 30 days to remedy all the deficiencies and submit them for re-evaluation.

 If an application for course approval is accepted for consideration, but the course is subsequently not certified by the MLEB, the course owner/affiliated entity shall be notified in writing by the MLEB. The MLEB will notify the course owner/affiliated entity of the reason(s) for the denial of the application, and the MLEB may re-evaluate a corrected submission at no additional cost to the course owner/affiliated entity.

Withdrawal of Approval by the MLEB

(1) The MLEB may withdraw approval at any time upon discovery of any of the following:

(a) That the course owner/affiliated entity provided to the MLEB any false or misleading information in connection with an application for course approval or renewal;

(b) That a course is not being conducted in the manner represented to the MLEB at the time approval was granted or that a course no longer complies with the criteria for approval or renewal;

(c) That the course owner/affiliated entity do not enforce policies related to course, instructor qualifications, student attendance or course scheduling;

(d) That the course owner/affiliated entity misrepresent approval of a course by the MLEB in any manner;

(e) That the course owner/affiliated entity misrepresent any material fact relating to a course;

(f) That the course owner/affiliated entity have failed to maintain for a period of at least six years accurate records of students' course completion and to fill, within a reasonable period of time, requests for course completion letters or certificates from former students who satisfactorily completed a course;

(g) That the course owner/affiliated entity have failed to comply with any provisions of these rules.

(2) The MLEB shall notify the course owner/affiliated entity in writing of the reasons for the withdrawal of approval. The MLEB will also notify the course owner/affiliated entity of the procedures necessary to appeal the decision.

Renewal of Approval

(1) Approval of both Entry Level Education and continuing education courses must be renewed before the expiration of the course approval date. Owners/affiliated entities of approved courses will submit their request for renewal on the same application forms used for initial application in a timely manner. The forms must be submitted 60 days prior to expiration of course approval. If the application is received less than 60 days prior to expiration, the MLEB may require the owner/affiliated entity to submit the courses as an initial application. Renewal applications will not be accepted after the expiration date. The criteria for renewal of course approval shall be that criteria in effect at the time the renewal are requested. The renewal application will require owners to identify and explain in detail any revisions to previously approved courses or related policies that were not approved in advance by the MLEB. Renewal of approval may also be denied if any of the grounds for withdrawal of approval described in these rules are found to exist at the time renewal is being considered.

(2) The MLEB reserves the right at any time to conduct a full review of any approved course for any reason in connection with any renewal of course approval.  Further, the MLEB may establish a system of periodic course review.

(3) The provisions of these rules relating to withdrawal of approval shall also be applicable with regard to the renewal of course approval.

Optional Advance Approval of Revisions for Courses Which Have Been Approved

(1) Course owners/affiliated entities have the option of having advanced approval of revisions related to course renewal.

(2) After a course has been approved, reasonable course revisions and updates (less than 10 percent of course content) that improve courses or keep them current may be made without approval of the MLEB. This type of revision must not alter the course content as originally approved.

(3) Revisions that are so extensive that they substantially alter the course scope and effectively create a new and different course or diminish the content (greater than 10 percent of course content) must be resubmitted as a new course.

Amendments to Program

Course owners/affiliated entities are required to comply with MLEB rules and procedures at all times. The MLEB may amend these rules at any time. These rules are effective when posted on MLEB website and will apply whether or not any course owner/affiliated entity has received notice of the rule.

Entry Level Education Course Content Guidelines

(1) General Guidelines: NOTE: Any class covering any of the topics listed below may be taken individually as long as all the topics are addressed and the minimum total of 20 hours is met.

(a)    The course must be a Residential Mortgage Lending course that involves a minimum of 20 classroom hours of instruction (excluding examination time) and contain all of the following topics;

1.)                Ethics

2.)                Federal Real Estate Settlement and Procedures Act (RESPA) Compliance for Originators

3.)                Federal Truth In Lending (TIL) Compliance

4.)                Federal Equal Credit Opportunity Act (ECOA) Compliance

5.)                Basic Applicant Interviewing Techniques

6.)                Federal Fair Lending Laws

7.)                Federal Truth in Advertising

8.)                Oregon Mortgage Lending Laws and Regulations

9.)                HOEPA

10.)            GLB

11.)            FACT ACT

12.)            Any new federal or state laws or regulations, as they become effective, that regulate mortgage lending activities.

(b) The course must generally be broad in scope and must cover various principles, concepts, standards, practices and/or methods that are applicable generally to the performance of a wide range of loan programs and credit classifications. The course must provide the student with a broad-based foundation of knowledge and understanding of the proper and accurate disclosure of information to consumers applying for a Residential Mortgage Loan.

(c) The course may provide coverage of additional specific topics not listed in 1(a) above provided that:

1.) The additional topics covered are appropriate (consistent with course learning objectives); and

2.) The course contains no fewer than 20 classroom hours of instruction on acceptable topics. However, the course must still be consistent with the parameters described in these rules.

(d) Courses will be evaluated based on their content without regard to the course title;

(2)The principal focus of the course is NOT

(a)  Sales, Marketing or Motivational

(b)   Skills pertaining to running a business   

(c)    Any other course not judged to meet the focus of the education goals that directly benefit consumers of Residential Mortgage Loans.

(3) Courses Certified by the MLEB will be credited toward the education requirements.

Continuing Education Course Content Guidelines

(1) General Guidelines:

(a) The course must involve a minimum of one classroom hour of instruction.

(b) The course must contribute to the goal of maintaining or increasing the knowledge, skill and competence of Residential Mortgage Originators

(2) The principal focus of the course cannot be:

            (a) Sales, Marketing or Motivational

            (b) Skills pertaining to running a business

            (c) Any course not judged to meet the focus of the education goal that directly benefits consumers of Residential Mortgage Loans.

(3) Courses certified by the MLEB will be credited toward education requirements.

Approval Requirements for Out of State Courses for Entry Level and Continuing Education

(1) Courses from providers located outside the State of Oregon may be acceptable as Entry Level Education and Continuing Education:

(a) If the course has been approved by another state’s statutory authority and the procedures of that state for approving Entry Level Education are substantially similar to those of the State of Oregon, or

(b) If the rules and procedures of the state of origin are not equivalent to those of the State of Oregon, the applicant may still submit the course for approval by the MLEB by submitting documentation to show equivalencies with MLEB’s course/instructor requirements.

(2) The burden of proof remains with the applicant to demonstrate the equivalency of the course work.