A file review in Michigan turns on pre-licensure education rather than a generic SAFE rule rather than a generic SAFE rule. Which statement controls?
Correct Answer
B) Michigan PE requires 20 NMLS-approved hours with required federal, ethics, nontraditional-mortgage, and state content where applicable.
Michigan prelicensing education follows SAFE Act content: at least 20 hours including 3 hours federal law, 3 hours ethics with fraud, consumer protection, and fair lending, 2 hours nontraditional mortgage lending, and Michigan-specific education as listed by NMLS.
Why This Is the Correct Answer
Michigan prelicensing education follows SAFE Act content: at least 20 hours including 3 hours federal law, 3 hours ethics with fraud, consumer protection, and fair lending, 2 hours nontraditional mortgage lending, and Michigan-specific education as listed by NMLS.
More UST Questions
In a Missouri mortgage file, the loan file reviewer is asked to document licensing and NMLS authority before continuing. Which rule controls?
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A licensing checklist in Missouri includes a question about scope, definitions, and exemptions. Which entry should the branch supervisor keep?
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