When the SAFE Act was passed by the US Congress in 2008, it mandated that all States require that Mortgage Loan Originators meet certain minimum requirements to obtain and maintain a Mortgage Loan Originator License. Once of those requirements was educationtipsforall. The SAFE Act mandated 20 hours of Pre-License Education in order to obtain an LO license and 8 hours of Continuing educationtipsforall each year in order to maintain and renew an LO License. Over the next couple years, each state passed legislation to meet this federal education mandate. And regulators worked with the Nationwide Mortgage Licensing System (NMLS) to implement this requirement.
When the states passed legislation to meet this federal SAFE Act Education requirement, many of them decided to also require additional education above. And beyond the minimum federal requirement of 20 hours of Pre-License Education and 8 hours of annual Continuing Education. Many states require anywhere from 1 to 15 hours of state-specific Pre-License educationtipsforall and 1 to 3 hours of annual Continuing Education. And as more states have adopted the Uniform State Test (UST) in lieu of a state-specific NMLS Test. Many of those same states have decided to recently add additional state-specific education requirements.
When the NMLS started working with the states to implement the LO License education requirements. They came up with 3 ways to meet the mortgage loan originator educationtipsforall requirement. Live, Webinar, and Online Instructor-Led. These three options were develope in order meet certain NMLS requirements that the mortgage education course be time. And that there be interaction between the instructor and the mortgage loan originator. The Live and Webinar versions clearly meet this requirement, but for the Online Instructor-Led Course to meet that requirement. But still give the LO the ability to work at their own pace, the NMLS along with the states created.
A requirement for the online mortgage education course to include questions and answers between the instructor. And the Mortgage Loan Originator. The live course is generally only offer to large groups such. As large companies that have many LOs that need mortgage licensing continuing educationtipsforall at the same time. Most mortgage education companies offer the Webinar option. But then the LO has to sit through the entire education course all at one time. So most Mortgage Loan Originators prefer the Online Instructor-Led https://educationtipsforall.com/ Course. You can do it at your own pace and have much more flexibility.