The answer is yes and no.  Current Pennsylvania mortgage loan originators taking the required 20 hours of NMLS prelicense education will not have to do CE to renew this year.

However, according to the Pennsylvania Department of Banking, one individual from each licensed office of a mortgage broker, mortgage lender or mortgage loan correspondent that is not a mortgage originator, unless all of the nonclerical staff of a particular licensed office are licensed as mortgage originators, must complete 8 hours of continuing education. The CE must consist of 3 hours of federal law, 2 hours of ethics, 2 hours of nontraditional mortgage products and 1 hour of Pennsylvania mortgage laws.

ProSchools has two courses approved for CE.  We have a 1 Hour PA Mortgage Lending Compliance Laws CE and an 8 Hour PA SAFE Comprehensive CE course available. Both courses are offered online and are approved by the NMLS.  The SAFE Act requires a minimum of 8 hour CE per year and states can determine if they want to require more hours or require state-specific topics as part of the CE.

This entry was posted on Monday, November 9th, 2009 at 3:33 pm and is filed under Education Requirements, Mortgage Licensing, NMLS, NMLSR, SAFE Act, Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.