Wash. Admin. Code § 208-620-720 - Loan originator - Prelicensing education
Must I complete prelicensing education in order to receive a loan originator license? Yes.
(1) You must complete at least twenty-two
hours of pre-licensing education approved by the NMLS. The prelicensing
education must include:
(a) Three hours of
federal law and regulations;
(b)
Three hours of ethics, which includes 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) At least four hours of training
specifically related to Washington law.
(2) You will receive credit for having
completed the SAFE required prelicensing education for every state once you
have successfully completed the SAFE required preli-censing education
requirements approved by the NMLS for any state.
(3)
Must I take continuing education in
the year I complete the prelicensing education? No. You will not have a
continuing education requirement in the year in which you complete the core
twenty hours of prelicensing education.
Notes
Statutory Authority: Chapter 43.320 RCW and
RCW
31.04.165. 13-06-012, § 208-620-720, filed
2/25/13, effective 4/1/13. Statutory Authority:
RCW
43.320.040,
31.04.165,
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