Utah


Utah – DFI Mortgage Originator Pre-Licensure 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 12 hours of undefined education (referred to as electives).  Number of hours is 3/3/2/12 = 20

Utah-DFI does not have a requirement for instruction on state-specific law.

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MLO NMLS Approved Continuing Education Requirements

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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 one additional hour of undefined education (referred to as an elective). Number of hours is 3/2/2/1 = 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. MLO’s are advised not to retake pre-licensure education (PE) unless directed to by a State Regulator.  PE education does not count towards meeting annual CE requirements.

Am I required to take Continuing Education this year?
If I completed SAFE Act PE in 2009,

2010, 2011, 2012, 2013, 2014, or 2015

and I was licensed in 2009, 2010, 2011, 2012, 2013, 2014, 2015, or 2016am I required to complete CE in 2016YES
If I completed SAFE Act PE in 2016and I was approved for an initial license in 2016am I required to complete CE in 2016No

Deadline

The deadline to complete CE is December 31, 2016.  However, MLOs with Utah-DFI 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.

Utah – DRE Pre-Licensure Education Requirements

New state-licensed MLOs are required to complete 20 hours of NMLS approved education. NMLS approved education must include 3 hours of Federal law, 3 hours of ethics (which shall include fraud, consumer protection, and fair lending issues), 2 hours of non-traditional mortgage lending, plus 12 hours of undefined education (referred to as electives).  Number of hours is 3/3/2/12 = 20

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UT-DRE also has an additional requirement of 15 hours of UT-DRE approved instruction.

Utah Mortgage Loan Originator NMLS 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 one additional hour of undefined education (referred to as an elective) plus 2 hour Utah-approved specific annual update course.   Number of hours is 3/2/2/1 + 2hr UT annual update course = 10

(Note: the UT 2hr update is reported directly to UT-DRE and is not tracked in NMLS)

Click here to get the NMLS approved 8 hour comprehensive CE course

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. MLO’s are advised not to retake pre-licensure education (PE) unless directed to by a State Regulator.  PE education does not count towards meeting annual CE requirements.

 

Deadline

The deadline to complete CE is December 15, 2016.  However, MLOs with Utah-DRE 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.

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