5 Hour Utah Pre Licensing Education

Course Information:

- Course is presented in an Online Self-Study video format. 

- Made up of 7 chapters, broken into 5 minute sections that require clicking to advance to the next slide and a handful of small quizzes.

- Each 5 minute section is followed by an activity, consisting of either short quizzes or case studies that focus on certain concepts.

- Quiz at the end of each chapter, with a final exam wrapping up the course.

- Must complete all presentation and activity sections, all quizzes and tests, and the final exam in order to receive course credit. 

- Certificate will be generated after course completion. 

Description:

Welcome to the Utah 5-hour state-specific prelicensure (PE) course. This course is required for individuals seeking a Mortgage Loan Originator (MLO) license through the Utah Division of Real Estate and fulfills the Utah-specific portion of the 25-hour education requirement.

This course is designed to help you understand the laws, rules, and regulatory expectations that govern mortgage activity in Utah. While federal law provides the overall framework, Utah-specific laws address local requirements, consumer protections, and licensing standards.

We will focus on three key areas: Utah consumer protection laws, including fair housing, reverse mortgages, and high-cost loans; the Utah Mortgage Fraud Act and common fraud risks; and the Utah Residential Mortgage Practices and Licensing Act and Mortgage Lending and Servicing Act, which cover licensing, supervision, prohibited conduct, recordkeeping, and enforcement.

By the end of this course, you will be better prepared to recognize risks, avoid violations, and apply Utah law in your day-to-day work as a mortgage professional.

NOTE: Completion of this course is NOT reported to the NMLS. It is required by the UT-DRE. After completing the course, you must submit your certificate to the UT-DRE at [email protected] to receive credit.

5 Hour Utah Pre-License Course Outline #18892:

- Chapter 1: Utah Consumer Protection Laws

- Chapter 2: The Utah Mortgage Fraud Act

- Chapter 3: Fraud Roles and Participants

- Chapter 4: Prohibited Acts under Utah's Financial Institution Mortgage Financing Regulations

- Chapter 5: Licensing

- Chapter 6: Compliance

- Chapter 7: The Utah Mortgage Lending and Servicing Act

Click Here to review the PE or CE requirements for your state.

Learning Objectives:

By the end of this course, learners will be able to:

- Analyze how the Utah Fair Housing Act applies to mortgage lending activities and identify actions that could result in discriminatory treatment, whether intentional or unintentional.

- Assess your role as a mortgage professional in promoting equal access to housing by ensuring consistent, unbiased communication and decision-making throughout the loan process.

- Evaluate how Utah reverse mortgage laws are designed to balance borrower flexibility with consumer protection and explain how these requirements impact your role as an MLO.

- Assess the risks and responsibilities associated with reverse mortgage transactions and determine how to ensure compliance while effectively guiding borrowers through the process.

- Identify when a loan meets Utah’s high-cost mortgage thresholds and determine the additional legal requirements that apply to that transaction.

- Evaluate the risks associated with high-cost loans and explain how compliance with Utah law protects borrowers from predatory lending practices.

- Explain the key provisions of the Utah Residential Mortgage Fraud Act, including what constitutes mortgage fraud and the role of intent, misrepresentation, and omission in the mortgage lending process.

- Recognize how the Utah Residential Mortgage Fraud Act applies across all stages of the mortgage lending process and identify responsibilities for ensuring accuracy, honesty, and compliance in each step.

- Analyze how different mortgage transaction participants, such as real estate agents, appraisers, MLOs, brokers, and lenders, can either prevent or contribute to fraud, and explain how their actions impact the integrity of the lending process.

- Recognize common warning signs of fraud across multiple roles and determine appropriate actions to address, escalate, or prevent suspicious activity within a mortgage transaction.

- Explain the potential legal, financial, and professional consequences for mortgage professionals who directly or indirectly participate in fraudulent activities, and evaluate how maintaining ethical standards helps protect both consumers and the broader housing market.

- Explain why prohibited acts under Utah Code 70D-3-402 are essential to protecting consumers, ensuring fair lending practices, and maintaining trust in the mortgage industry.

- Analyze how violations of prohibited acts can lead to consumer and industry harm.

- Evaluate the role of prohibited conduct standards in preventing fraud, promoting transparency, and supporting the overall integrity of the mortgage lending process.

- Explain the purpose of the Utah Residential Mortgage Practices and Licensing Act, including key definitions and the role of the Division of Real Estate.

- Determine when a license is required, identify applicable exemptions, and apply these rules to real-world mortgage activities.

- Describe the process for obtaining and maintaining an MLO license, including application requirements, qualifications, sponsorship, and supervision.

- Evaluate ongoing compliance responsibilities, including reasons for license denial, renewal requirements, and the importance of maintaining good standing.

- Identify and evaluate prohibited conduct for mortgage loan originators, including how violations can occur in real-world transactions.

- Explain recordkeeping requirements and assess the importance of maintaining, safeguarding, and properly disposing of mortgage-related records.

- Describe the Division’s enforcement authority, including investigations, disciplinary actions, and potential legal consequences for non-compliance.

- Analyze the purpose and function of the recovery fund, including how claims are made and the impact on licensees when payments are issued.

- Recognize how the Mortgage Lending and Servicing Act shapes day-to-day responsibilities, from taking an application to managing a loan after closing.

- Distinguish the roles and obligations of lenders, brokers, and servicers, and how each contributes to a compliant and consumer-focused mortgage process.

- Assess how proper disclosures, communication, and servicing practices protect borrowers, and what can go wrong when those standards are not followed.

Check out our Frequently Asked Questions page for more information.

NOTE: Completion of this course is NOT reported to the NMLS. It is required by the UT-DRE. After completing the course, you must submit your certificate to the UT-DRE at [email protected] to receive credit.

Learn more on the Utah Department of Commerce website.

Please Note:

- You will receive course access for 3 months from the date of purchase. You can log into your account at any time (24/7) to complete this course within those three months.

- NMLS Provider #1400062