What is the minimum number of continuing education hours that a state-licensed MLO must complete annually to maintain their license?
Correct Answer
B) 8 hours
Under the SAFE Act, state-licensed MLOs must complete a minimum of 8 hours of continuing education annually to maintain their license in good standing.
Why This Is the Correct Answer
Under the SAFE Act, state-licensed MLOs must complete a minimum of 8 hours of continuing education annually to maintain their license in good standing.
More UST Questions
If a state regulatory authority finds violations during an examination, what factors typically influence the severity of enforcement action?
Under the SAFE Act, an individual who works for a federally chartered bank and takes mortgage applications must:
An MLO under investigation claims that certain requested documents are protected by attorney-client privilege because they were prepared in consultation with legal counsel. How should the state regulator respond?
Which scenario represents the MOST serious violation of appraisal independence requirements?
An MLO's license is suspended for 6 months, but after 3 months, the MLO demonstrates completion of remedial actions. Can the regulator lift the suspension early?
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Previous Question
An MLO candidate scores exactly 75% on their state test. Which statement is correct?
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An MLO tells a borrower, "The appraisal came back low, but don't worry - we can order a second appraisal and the lender will use the higher of the two values." If this statement is false, it constitutes: