What are the continuing education requirements for mortgage loan originators?
The SAFE Act mandates that state-licensed mortgage loan originators complete a minumum of 8 hours of continuing education annually. The 8 hours must include:
- 3 hours of Federal law and regulations
- 2 hours of ethics, including instruction on fraud, consumer protection, and fair lending
- 2 hours related to the nontraditional mortgage marketplace
- 1 hour of undefined instruction on mortgage origination
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