A mortgage loan originator completes 15 hours of general mortgage education, 3 hours of federal law, 2 hours of ethics, and 2 hours of nontraditional mortgage products. Does this meet the SAFE Act pre-licensure education requirements?
Correct Answer
A) No, needs 1 additional hour of ethics
The candidate has completed 22 hours total, but only 2 hours of ethics when 3 hours are required. The breakdown should be: 3 hours federal law, 3 hours ethics, 2 hours nontraditional products, and 12 hours of other approved topics for a total of 20 hours minimum.
Why This Is the Correct Answer
The candidate has completed 22 hours total, but only 2 hours of ethics when 3 hours are required. The breakdown should be: 3 hours federal law, 3 hours ethics, 2 hours nontraditional products, and 12 hours of other approved topics for a total of 20 hours minimum.
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