Wash. Admin. Code § 208-660-355 - Loan originators - Prelicensing education
(1)
(a)
Must I obtain prelicensing education before I will be given a
license? Yes. You must complete at least twenty-two hours of
prelicensing education from an NMLS approved provider. The prelicensing
education must include at least three hours of federal law and regulations;
three hours of ethics, which must include instruction on fraud, consumer
protection, and fair lending issues; two hours related to lending standards for
the nontraditional mortgage product marketplace; and at least four hours of
training specifically related to Washington law.
(b) You will receive credit for having
completed the SAFE required prelicensing education for every state once you
have successfully completed the SAFE required prelicensing education
requirements approved by the NMLS for any state.
(2)
Who provides prelicensing
education? The NMLS approves course providers and courses for
prelicensing education. See the NMLS Resource Center for a list of approved
providers and courses.
(3)
Must I complete 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 19.146.223.
13-06-022, § 208-660-355, filed 2/27/13, effective 4/1/13; 12-18-048, §
208-660-355, filed 8/29/12, effective 11/1/12. Statutory Authority:
RCW
43.320.040,
19.146.223, and
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