West Virginia MLO Pre-Licensure Education Requirements
New state-licensed MLOs are required to complete 22 hours of NMLS approved training. The training includes 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, 12 hours of undefined education (referred to as electives) + 2 hours of WV law. Number of hours is 3/3/2/12/+ 2hrs of WV law = 22
West Virginia has a requirement for 2 hours of instruction on state-specific law which may be satisfied by either taking a WV comprehensive course or a state-specific elective course.
WV Mortgage Loan Originator 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 WV specific education. Number of hours is 3/2/2/+ 1hr of WV 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. 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 2016||am I required to complete CE in 2016||YES|
|If I completed SAFE Act PE in 2016||and I was approved for an initial license in 2016||am I required to complete CE in 2016||No|
The deadline to complete CE is November 30, 2016. However, MLOs in West Virginia 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.