Pennsylvania Mortgage Loan Originators Face Year-End Education Deadline
HARRISBURG, PA – Pennsylvania-licensed Mortgage Loan Originators (MLOs) are under a time constraint to fulfill continuing education requirements, with a firm deadline of december 31st. Failure to complete the necessary coursework will disqualify applicants from renewing their licenses, potentially disrupting the state’s mortgage market and impacting home buyers.
This annual requirement ensures Pennsylvania MLOs remain current on federal regulations, ethical practices, and evolving lending landscapes. The stakes are high: approximately [number not provided in source] MLOs across the Commonwealth must demonstrate compliance to continue operating legally. Renewal applications will be blocked for those who haven’t reported completed coursework through the Nationwide Multistate Licensing System (NMLS), and providers can take up to seven days to report completion, making last-minute enrollment risky.
Pennsylvania mandates a total of eight to twenty hours of continuing education, depending on the chosen course path.All MLOs must complete three hours of Federal law education, two hours dedicated to ethics – encompassing fraud, consumer protection, and fair lending - and two hours focused on non-customary mortgage lending.
Crucially, Pennsylvania requires either one or three hours of state-specific education, fulfilled through a Pennsylvania-specific elective course or as part of a comprehensive Pennsylvania course. Qualified Individuals and Branch Managers should consult the PA Requirements Checklist available on the NMLS website for additional details pertaining to their specific roles.
MLOs are strongly advised to complete their continuing education well before the December 31st deadline to allow sufficient time for course providers to report completion to NMLS and avoid potential delays in the renewal process.
