A Pennsylvania file is paused during a loan-originator transfer because of continuing education and renewal. Which statement clears the compliance question?
Correct Answer
C) Annual CE applies except in the PE-completion licensing year.
Pennsylvania CE applies annually to mortgage originators, branch managers, and qualifying individuals of mortgage brokers or lenders, and no CE is required in a licensing year in which that person completed the prelicensing education requirement.
Why This Is the Correct Answer
Pennsylvania CE applies annually to mortgage originators, branch managers, and qualifying individuals of mortgage brokers or lenders, and no CE is required in a licensing year in which that person completed the prelicensing education requirement.
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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