An MLO completed continuing education in State A where they are licensed, then moved and obtained a license in State B mid-year. What continuing education is required for State B?
Correct Answer
B) No additional CE required if State A CE was completed
The SAFE Act requires 8 hours of continuing education annually per MLO, not per license. CE completed in one state satisfies the federal requirement for all licenses held by that individual in the same year.
Why This Is the Correct Answer
The SAFE Act requires 8 hours of continuing education annually per MLO, not per license. CE completed in one state satisfies the federal requirement for all licenses held by that individual in the same year.
More UST Questions
If a state regulatory authority finds violations during an examination, what factors typically influence the severity of enforcement action?
Under the SAFE Act, an individual who works for a federally chartered bank and takes mortgage applications must:
An MLO under investigation claims that certain requested documents are protected by attorney-client privilege because they were prepared in consultation with legal counsel. How should the state regulator respond?
Which scenario represents the MOST serious violation of appraisal independence requirements?
An MLO's license is suspended for 6 months, but after 3 months, the MLO demonstrates completion of remedial actions. Can the regulator lift the suspension early?
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A candidate takes the Uniform State Test for State A and fails. They immediately move to State B and want to take that state's test. When can they take the State B Uniform State Test?
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A state regulatory authority discovers during an examination that an MLO has been operating without proper licensing for six months. What enforcement action is most appropriate?