A New York originator prepares to renew for 2027 and counts 8 hours of continuing education. Does the eight-hour total satisfy New York annual continuing education?
Correct Answer
C) Short: New York requires at least 11 hours a year
A licensed mortgage loan originator shall complete at least eleven hours of approved education a year, including three hours of federal law, two hours of ethics, two hours on the nontraditional mortgage product marketplace and three hours on applicable New York State law and regulations. Other choices: New York exceeds the eight-hour SAFE baseline; the figure is 11 rather than 12; and the state component is in addition to the other eight rather than carved out of them. Source: N.Y. Banking Law § 599-j(1)
Why This Is the Correct Answer
A licensed mortgage loan originator shall complete at least eleven hours of approved education a year, including three hours of federal law, two hours of ethics, two hours on the nontraditional mortgage product marketplace and three hours on applicable New York State law and regulations. Other choices: New York exceeds the eight-hour SAFE baseline; the figure is 11 rather than 12; and the state component is in addition to the other eight rather than carved out of them. Source: N.Y. Banking Law § 599-j(1)
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