Kan. Admin. Regs. § 17-24-3 - Prelicensing and continuing education; requirements
(a) Each individual required to register as a
loan originator pursuant to the Kansas mortgage business act,
K.S.A. 9-2201 et seq. and amendments thereto, shall
complete at least 20 hours of prelicensing professional education (PPE)
approved in accordance with subsection (c), which shall include at least the
following:
(1) Three hours of federal law and
regulations;
(2) three hours of
ethics, which shall include instruction on fraud, consumer protection, and fair
lending issues; and
(3) two hours
of training related to lending standards for the nontraditional mortgage
product marketplace.
(b)
Each individual required to register as a loan originator pursuant to the
Kansas mortgage business act,
K.S.A. 9-2201 et seq. and amendments thereto, shall
annually complete at least eight hours of approved continuing professional
education (CPE) as a condition of registration renewal, which shall include at
least the following:
(1) Three hours of
federal law and regulations;
(2)
two hours of ethics, which shall include instruction on fraud, consumer
protection, and fair lending issues; and
(3) two hours of training related to lending
standards for the nontraditional mortgage product marketplace.
(c) Each PPE and each CPE course
shall first be approved by the office of the state bank commissioner (OSBC), or
its designee, before granting credit.
(d) In addition to the specific topic
requirements in subsections (a) and (b), PPE and CPE courses shall focus on
issues of mortgage business, as defined by
K.S.A. 9-2201 and amendments thereto, or related
industry topics.
(e) One PPE or CPE
hour shall consist of at least 50 minutes of approved instruction.
(f) Each request for PPE or CPE course
approval shall be submitted on a form approved by the OSBC. A request for PPE
or CPE course approval may be submitted by any person, as defined by
K.S.A. 9-2201 and amendments thereto.
(g) Evidence of satisfactory completion of
approved PPE or CPE courses shall be submitted in the manner prescribed by the
commissioner. Each registrant shall ensure that PPE or CPE credit has been
properly submitted to the OSBC and shall maintain verification records in the
form of completion certificates or other documentation of attendance at
approved PPE or CPE courses.
(h)
Each CPE year shall begin on the first day of January and shall end on the 31st
day of December each year.
(i) A
registrant may receive credit for a CPE course only in the year in which the
course is taken. A registrant shall not take the same approved course in the
same or successive years to meet the annual requirements for CPE.
(j) Each registrant who fails to renew the
registrant's certificate of registration, in accordance with
K.S.A. 9-2205 and amendments thereto, shall obtain
all delinquent CPE before receiving a new certificate of
registration.
(k) A registrant who
is an instructor of an approved continuing education course may receive credit
for the registrant's own annual continuing education requirement at the rate of
two hours of credit for every one hour taught.
Notes
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