A continuing education provider loses their NMLS approval mid-year. What happens to CE credits earned from courses taken before the approval was revoked?
Correct Answer
B) Credits earned before revocation remain valid
Continuing education credits earned from an NMLS-approved provider remain valid even if the provider's approval is subsequently revoked, as long as the courses were taken while the provider held valid NMLS approval.
Why This Is the Correct Answer
Continuing education credits earned from an NMLS-approved provider remain valid even if the provider's approval is subsequently revoked, as long as the courses were taken while the provider held valid NMLS approval.
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An MLO candidate passes the national test but fails the state test twice. They then pass the state test on the third attempt after the national test has been valid for 11 months. What must they do?
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An MLO advertises '0% interest loans available' when the actual rate is 0% for only the first month, then adjusts to market rates. This practice is: