Nevada Mortgage Professionals Face Year-End Education Deadline
CARSON CITY, NV – Nevada-licensed Mortgage Loan originators (MLOs) and Qualified Employees (QEs) must complete eight hours of continuing education by December 31st to remain eligible for license renewal, state regulators remind professionals this week. Failure to meet the requirement could prevent timely submission of renewal applications.
This annual education mandate impacts all state-licensed MLOs, nonetheless of their licensing status, beginning in the year they are initially licensed – unless professional Education (PE) was completed concurrently. The requirement underscores Nevada’s commitment to maintaining a highly-trained mortgage industry, protecting consumers from predatory lending practices, and ensuring compliance with evolving federal and state regulations.
The eight hours of NMLS-approved education are specifically allocated: three hours dedicated to Federal law, two hours to ethics encompassing fraud, consumer protection, and fair lending, two hours focused on non-traditional mortgage lending, and one hour as an elective.Tho, QEs at each office are required to substitute the elective hour with one hour of Nevada Law.
Notably, professionals completing education between 2010 and 2017 were subject to a ten-hour requirement, including three hours of state-specific content. Currently, there are no additional continuing education requirements for personnel beyond the MLO and QE roles.
Regulators strongly advise MLOs not to delay completion of their CE, as it can take up to seven days for course providers to report completion to the NMLS. This processing time could jeopardize an MLO’s ability to submit a renewal submission before the December 31st deadline.
