The wheels keeping turning at ProSchools where our focus is getting all the state-required hours approved and offering exam prep courses where there are no mandated state hours.

We are waiting for approval on the 4-hour Ohio mortgage laws and the 4-hour Mississippi laws. ProSchools submitted the courses awhile ago but there are new Functional Specifications for NMLS Approved Instructor Online-Led Courses and all courses submitted now and in the future must meet this new standard.  Once we get the Ohio Laws and MS Laws approved by the NMLS, we will have a course for every state requiring state-specific hours. Read the rest of this entry »

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.