An MLO licensed in California fails to complete their required continuing education by December 31. What is the consequence?
Correct Answer
A) The MLO's license becomes inactive and they cannot originate loans until CE is completed and the license is reactivated
If an MLO fails to complete continuing education by the December 31 deadline, their license becomes inactive. While inactive, the MLO is prohibited from originating mortgage loans. The license can be reactivated by completing the required CE, but the MLO cannot work during the inactive period.
Why This Is the Correct Answer
If an MLO fails to complete continuing education by the December 31 deadline, their license becomes inactive. While inactive, the MLO is prohibited from originating mortgage loans. The license can be reactivated by completing the required CE, but the MLO cannot work during the inactive period.
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