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 Pre-License Education and Continuing Education. The SAFE Act mandated 20 hours of Pre-License Education in [...]
Every Mortgage Loan Originator licensed in the United States must complete Pre-License Education in order to obtain a license and Continuing Education each year in order to renew the license. There is a federal mandate that each state require at least 20 hours of Pre-License Education and at least 8 hours of Continuing Education each [...]
TO: Mortgage Industry and Interested Parties SUBJECT: Discontinuance of Michigan Loan Officer Registration Examination, and Clarification of Michigan Pre-registration Education Requirement Effective today, October 22, 2009, the Michigan loan officer registration examination administered through Pearson VUE is discontinued and will no longer be available. Any individual who scheduled a new loan officer registration examination or [...]