Nevada Mortgage โขProfessionalsโฃ Face Year-End Education Deadline
CARSON CITY, NV – Nevada-licensed Mortgage โLoan originators (MLOs)โ and Qualified Employees (QEs) must complete eight hours of continuing education by December 31st to remain eligible for license renewal, state regulators remind professionalsโข this week. Failure to meet the requirement could prevent timely submission of renewal applications.
This annual education mandate impacts allโ state-licensed โคMLOs, nonetheless of theirโฃ licensing status, beginning in the year they are initially licensed – โunless professional Education (PE) was completed concurrently. The requirement underscores Nevada’s commitment to โคmaintaining โa highly-trained mortgage industry, protecting consumers from predatory lending โขpractices,โฃ and โคensuring compliance with evolving federal and โฃstate regulations.
The eight hours of NMLS-approved education are specifically allocated: โฃthree hours dedicated to Federal law,โฃ twoโ hours to โขethics encompassing fraud, consumer protection, and fair โlending, two hoursโฃ focused on non-traditional mortgage lending, and one hourโ as an elective.Tho, QEs at each office are required โto substitute the elective hour with oneโ hour of Nevadaโข Law. โข
Notably, professionals completing education between 2010 andโ 2017โค were subject to a ten-hour requirement,โฃ including three hours of state-specific content. Currently, there are noโข additionalโ continuing education requirements for personnel beyond the MLO and QE roles.
Regulators strongly advise MLOs not to delay completion of their CE, asโ it can take up to seven days for course providers to report completionโค to the NMLS. This processing time could jeopardize an MLO’s ability to submit โa renewal โฃsubmission before the December 31st deadline.