Mortgage Loan Originator Pre-Licensing Education - Financial Regulation
Effective July 1, 2009, the pre-licensing education requirement has been reduced from 40 hours to 20 hours and applies to all mortgage loan originators regardless of experience.
The requirements for mortgage originators are below:
PRE LICENSING REQUIREMENT - 20 Hours
- Federal Law and Regulations: 3 Hours
- Ethics, Fraud, Consumer Protection and Fair Lending: 3 Hours
- Lending Standards for Nontraditional Mortgage Products: 2 Hours
- Maryland Mortgage-Related Law: 3 Hours
- Maryland Finders Fee Law: 2 Hours
- Electives: 7 Hours
PROVIDERS AND COURSES FOR USE ON OR AFTER JANUARY 1, 2010 FOR PRE-LICENSING EDUCATION
EFFECTIVE JANUARY 1, 2010, PRE-LICENSING COURSES AND PROVIDERS MUST BE APPROVED BY THE NMLS. MARYLAND IS NO LONGER APPROVING PRE-LICENSING COURSES OR PROVIDERS.
FOR THOSE NEEDING TO COMPLETE PRE-LICENSING EDUCATION, THE REQUIREMENTS AND A LIST OF NMLS APPROVED COURSES AND PROVIDERS CAN BE FOUND ON THE NMLS website.