Pennsylvania Mortgage Loan Originator Education Requirements
New state-licensed mortgage loan originators must complete 20 hours of NMLS approved education. This education must include 3 hours of Federal law, 3 hours of ethics and 2 hours of non-traditional mortgage lending, plus 9 hours of undefined education (referred to as electives) + 3 hours of PA law. Number of hours is 3/3/2/9/+ 3hrs of PA law = 20
Pennsylvania has a requirement for 3 hours of instruction on state-specific law which may be satisfied by either taking a PA comprehensive course or a state-specific elective course.
PA CE Continuing Education Requirements
Every state-licensed MLO (in any approved status) is required to complete at least 8 hours of NMLS approved education annually beginning the year they are licensed (unless PE was completed in the same year). Annual CE education must include 3 hours of Federal law, 2 hours of ethics (which shall include fraud, consumer protection, and fair lending issues), and 2 hours of non-traditional mortgage lending, plus 1 hour of PA specific education. Number of hours is 3/2/2/ + 1hr of PA law =8
MLOs are advised that to comply with the SAFE Act’s “successive years” rule, they may not take the same CE course two years in a row.
|Am I required to take Continuing Education this year?|
|If I completed SAFE Act PE in 2009,|
2010, 2011, 2012, 2013, 2014, or 2015, 2016
|and I was licensed in 2009, 2010, 2011, 2012, 2013, 2014, 2015, or 2016, 2017||am I required to complete CE in 2017||YES|
|If I completed SAFE Act PE in 2017||and I was approved for an initial license in 2017||am I required to complete CE in 2017||No|
The deadline to complete CE is December 31, 2017. However, MLOs in Pennsylvania are prohibited from submitting an application to renew their license if they have not completed CE. Since it may take as long as seven (7) days for a course provider to report a course completion into NMLS, MLOs are strongly encouraged not to wait until the last minute to try to complete CE or they may be prevented from submitting for renewal on time.