An MLO candidate with a law degree argues that their legal education should satisfy the pre-licensure education requirement. Under the SAFE Act, is this position correct?
Correct Answer
C) No, because the 20-hour requirement applies to all candidates regardless of background
The SAFE Act mandates that all MLO candidates complete 20 hours of pre-licensure education specific to mortgage loan origination. No exemptions are provided for prior education, including law degrees or other professional qualifications.
Why This Is the Correct Answer
The SAFE Act mandates that all MLO candidates complete 20 hours of pre-licensure education specific to mortgage loan origination. No exemptions are provided for prior education, including law degrees or other professional qualifications.
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