209 CMR, § 41.08 - Continuing Education
(1) A Licensee shall,
annually, complete a minimum of eight hours of continuing education approved by
the NMLS, which shall include, without limitation:
(a) three hours of federal law and
regulation;
(b) two hours of
ethics, which shall include instruction on fraud, consumer protection, and fair
lending issues;
(c) two hours of
training related to lending standards for the nontraditional mortgage product
marketplace; and
(d) one hour of
Massachusetts state law and regulation, which shall include instruction on
Massachusetts consumer protection laws and other related statutes.
(2) A Licensee who is an approved
instructor of an approved continuing education course may receive credit to
satisfy such Licensee's annual continuing education requirement at the rate of
two hours credit for every one hour taught.
(3) A Licensee shall:
(a) only receive credit for a continuing
education course in the year in which the course is taken; and
(b) not take the same approved course in the
same or successive years to meet the annual requirements for continuing
education.
Notes
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