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A loan production team asks compliance about New Jersey pre-licensure education. Which answer is the best guidance?

Correct Answer

B) New Jersey MLO pre-licensure education is 20 hours of NMLS-approved education and must include 4 hours of New Jersey law.

New Jersey MLO pre-licensure education is 20 hours of NMLS-approved education and must include 4 hours of New Jersey law.

Answer Options
A
Use another jurisdiction's approval as a substitute for the New Jersey requirement.
B
New Jersey MLO pre-licensure education is 20 hours of NMLS-approved education and must include 4 hours of New Jersey law.
C
Treat the requirement as waived because the borrower or employer agrees.
D
Assume another state's approval automatically satisfies the New Jersey requirement.

Why This Is the Correct Answer

New Jersey MLO pre-licensure education is 20 hours of NMLS-approved education and must include 4 hours of New Jersey law.

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