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  • PART III COURTS, JUDICIAL OFFICERS AND PROCEEDINGS IN CIVIL CASES
  • TITLE IV CERTAIN WRITS AND PROCEEDINGS IN SPECIAL CASES
  • CHAPTER 255F LICENSING OF MORTGAGE LOAN ORIGINATORS
  • Section 5 Pre-licensing education

Section 5. (a) An applicant for a mortgage loan originator’s license shall complete a minimum of 20 hours of pre-licensing education approved by the Nationwide Mortgage Licensing System and Registry based upon reasonable standards which shall include, without limitation: (i) 3 hours of federal law and regulations; (ii) 3 hours of ethics, which shall include instruction on fraud, consumer protection, and fair lending issues; (iii) 2 hours of training related to lending standards for the nontraditional mortgage product marketplace; and (iv) state law and regulation, which shall include instruction on state consumer protection laws and other related statutes.

[There is no subsection (b).]