New education requirements for MLO licensees

Posted by ft Editorial Staff | Sep 15, 2014 | Laws and Regulations, Licensing and Education, New Laws, Real Estate, Your Practice | 0

Calif. Financial Code §§22109.2, 22109.3, 22109.5, 50142, 50143 and 50145
Amended by S.B. 1459
Effective date: January 1, 2015

Applicants for mortgage loan origination licenses issued by the Department of Business Oversight (DBO) are now required to complete two hours of California-specific education as part of their 20-hour pre-licensing requirements.

Mortgage loan originators already licensed by the DBO are now also required to complete one hour of California-specific education as part of their 8-hour continuing education requirement.

This does not apply to mortgage loan origination license endorsements issued by the California Bureau of Real Estate (CalBRE).

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