§1094. Professional education required for licensure; continuing education
A.(1) In order to meet the pre-licensing education requirements pursuant to R.S. 6:1088, a person shall complete at least twenty-four hours of education approved in accordance with this Section, which shall include all of the following minimum requirements:
(a) Three hours of federal law and regulations.
(b) Three hours of ethics, which shall include instruction on fraud, consumer protection, and fair lending issues.
(c) Two hours of training related to lending standards for the non-traditional mortgage marketplace.
(d) Upon review and approval by the NMLS&R of courses offered by the Mortgage Bankers Association or the National Association of Mortgage Brokers by their own facilitators, or review and approval by the NMLS&R of such Mortgage Bankers Association or National Association of Mortgage Brokers courses provided through facilitators approved by them and by the NMLS&R, the applicant shall be required to satisfy four of the twenty-four hours of pre-licensing education by taking said Mortgage Bankers Association or National Association of Mortgage Brokers courses.
(2) For purposes of Paragraph (1) of this Subsection, pre-licensing education courses shall be reviewed and approved by the NMLS&R, and shall include review and approval of course providers; provided however, that until such time as the commissioner determines that the pre-licensing education courses and course providers referred to in this Paragraph are available to satisfy the requirements of Paragraph (1) of this Subsection, the requirements may be met by the completion prior to December 31, 2010, of any pre-licensing education courses or continuing education courses approved by the commissioner in accordance with this Part prior to that date. Such courses approved by the commissioner shall be eligible for inclusion in the total number of hours of pre-licensing education any person is required to complete in order to obtain, or to renew a mortgage loan originator license for any license year beginning on, or prior, to January 1, 2011.
(3) Nothing in this Section shall preclude any pre-licensing education course, as approved by the NMLS&R, that is provided by the employer of an applicant or an entity which is affiliated with the employer by an agency contract, or by any subsidiary or affiliate of such employer or entity.
(4) Pre-licensing education may be offered by any means approved by the NMLS&R.
(5) Unless otherwise provided by a rule issued by the commissioner, a person having successfully completed the pre-licensing education courses approved by the NMLS&R for any other state shall be accepted as credit towards completion of pre-licensing education course requirements in this state.
(6) The pre-licensing education requirements shall apply to all applications for a mortgage loan originator license submitted after July 31, 2009, and to all applications for renewal of a mortgage loan originator license submitted for the 2010 licensing year; provided however that, and notwithstanding any other law to the contrary, any person licensed as a mortgage loan originator on July 30, 2009, shall not be required to meet the minimum requirement of twenty hours of pre-licensing education provided for in this Part, until such person timely submits an application to renew a mortgage loan originator license for the year 2011.
B.(1) In order to meet the annual continuing education requirements pursuant to R.S. 6:1088.3, a licensed mortgage loan originator shall complete at least ten hours of continuing education approved in accordance with Paragraph (2) of this Subsection, which shall include all of the following minimum requirements:
(a) Three hours of federal laws and regulations.
(b) Two hours of ethics, which shall include instruction on fraud, consumer protection, and fair lending issues.
(c) Two hours of training related to lending standards for the nontraditional mortgage product marketplace.
(d) Upon review and approval by the NMLS&R of courses offered by the Mortgage Bankers Association or the National Association of Mortgage Brokers by their own facilitators, or review and approval by the NMLS&R of such Mortgage Bankers Association or National Association of Mortgage Brokers courses provided through facilitators approved by them and by the NMLS&R, the applicant shall be required to satisfy two of the ten hours of continuing education by taking said Mortgage Bankers Association or National Association of Mortgage Brokers courses.
(2) For purposes of Paragraph (1) of this Subsection, continuing education courses shall be reviewed, and approved by the NMLS&R and shall include review and approval of the course provider; provided however, until such time as the commissioner determines that the continuing education courses and course providers referred to in this Paragraph are available to satisfy the requirements of Paragraph (1) of this Subsection, the requirements may be met by completion of any continuing education courses approved by the commissioner in accordance with this Part. Such courses approved by the commissioner shall be eligible for inclusion in the total number of hours of continuing education any person is required to complete in order to renew a mortgage loan originator license for any license year beginning on or prior to January 1, 2011.
(3) Nothing in this Section shall preclude any education course, as approved by the NMLS&R, that is provided by the employer of the mortgage loan originator or an entity which is affiliated with the mortgage loan originator by an agency contract, or any subsidiary or affiliate of such employer or entity.
(4) Continuing education may be provided by any other means approved by the NMLS&R.
(5) Except as provided in Paragraph (6) of this Subsection, a licensed mortgage loan originator:
(a) May only receive credit for a continuing education course in the year in which the course is taken.
(b) May not take the same approved course in the same or successive years to meet the annual requirements for continuing education.
(c) May receive credit for being an instructor of an approved continuing education course, at the rate of two hours of credit for every one hour of instruction, towards the licensed mortgage loan originator's own annual continuing education requirements for the next licensing year after providing such instruction.
(6) The provisions of Subparagraphs (5)(a) and (b) of this Subsection shall not apply to:
(a) Courses approved by the commissioner for inclusion in the total number of hours of pre-licensing education courses required to satisfy the pre-licensing education requirements for any person required to meet the minimum pre-licensing education requirements to obtain a mortgage originator license, or to obtain renewal of a mortgage loan originator license for any license year beginning prior to January 1, 2011.
(b) Courses approved by the commissioner for inclusion in the total number of hours of continuing education courses required to satisfy the continuing education requirements for any person required to meet the minimum continuing education requirements to obtain renewal of a mortgage loan originator license for any license year beginning after the effective date of this Act and prior to January 1, 2011.
(7) A person having successfully completed the continuing education requirements approved by the NMLS&R in this Subsection for any other state shall be accepted as credit towards completion of the continuing education requirements of this Chapter.
(8) A licensed mortgage loan originator who subsequently becomes unlicensed must complete the continuing education requirements for the last year in which the license was held prior to issuance of a new or renewed license.
C.(1)(a) All persons applying for reinstatement or renewal of their mortgage broker, mortgage lender, or originator license shall have completed eight hours of continuing professional education in order to reinstate or renew their license on January first of the following year. Each applicant shall submit documentation to the commissioner from a recognized professional educational institution approved by the commissioner and the board as provided in R.S. 6:1093(B). Proof of the applicant's completion of these continuing professional requirements shall be submitted as part of the applicant's license renewal application.
(b) Each course taught by professional education providers shall include at least thirty minutes of instruction relating to changes or updates on new developments in the residential mortgage lending business, including changes to the Office of Financial Institutions application process and examination procedures, as well as any revisions of the provisions of this Chapter. The applicant shall satisfy four of the remaining hours of required instruction through courses offered or approved by the Mortgage Bankers Association or the National Association of Mortgage Brokers by their own facilitators or facilitators approved by them, which courses shall be presumed to satisfy all requirements of the commissioner and the board as provided in this Subsection and in any regulations adopted by the commissioner.
(2) The commissioner may impose and collect course evaluation fees in an amount not to exceed five hundred dollars paid by the organization sponsoring the continuing education program for recognition that the program satisfies the commissioner's professional education guidelines.
(3) The commissioner may impose and collect course recognition fees in an amount not to exceed fifty dollars, paid by the person participating in a continuing education program which has not been recognized by the commissioner to determine if the course will satisfy the commissioner's guidelines governing required professional education.
D.(1) Beginning July 1, 2000, a nonresident applying for a license to conduct residential mortgage lending activities in the state shall demonstrate that he has completed the educational requirements established under the provisions of this Chapter or is entitled to certification by reciprocity. When the commissioner, in consultation with the board, determines that a nonresident's state has requirements equivalent to or higher than the educational requirements provided for in this Chapter for insuring the qualifications of those engaging in the residential mortgage lending business, the commissioner may issue licenses to such nonresident applicants who have completed the professional education requirements applicable to Louisiana licensees or who have satisfied equivalent professional educational requirements in such other state or jurisdiction.
(2) The nonresident's application for educational certification by reciprocity shall be submitted as part of the nonresident's application for licensure. The nonresident's certification by reciprocity may be renewed in the same manner as provided for other renewals or by demonstrating to the commissioner that he has satisfied comparable requirements in the state or jurisdiction of his domicile.
(3) The commissioner may impose and collect reciprocity analysis fees in an amount not to exceed two hundred dollars paid by the nonresident seeking determination by the commissioner whether the nonresident's state's certification and continuing education requirements are equivalent to or higher than those imposed by the commissioner or whether additional continuing education courses will be required.
E. Beginning in the year 2001, any person receiving certification by reciprocity or examination on July first or later shall not be required to have the ten hours of continuing professional education required for license renewal until December thirty-first of the following year.
F. No person shall hold himself out as being or advertise as a certified mortgage broker, mortgage lender, or originator unless such person has completed the educational requirements established in this Section.
G. Any person engaged in residential mortgage lending on or before August 15, 2003, pursuant to exemptions previously provided by R.S. 6:1087, may obtain a license without completing the professional education or examination requirements in this Section, if they pay all applicable fees and submit completed applications on or before January 1, 2004. Any person applying for licensure pursuant to this Subsection shall comply with the financial responsibility, character, and fitness requirements contained in R.S. 6:1088.
§1094. Professional education required for licensure; continuing education
A.(1) In order to meet the pre-licensing education requirements pursuant to R.S. 6:1088, a person shall complete at least twenty-four hours of education approved in accordance with this Section, which shall include all of the following minimum requirements:
(a) Three hours of federal law and regulations.
(b) Three hours of ethics, which shall include instruction on fraud, consumer protection, and fair lending issues.
(c) Two hours of training related to lending standards for the non-traditional mortgage marketplace.
(d) Upon review and approval by the NMLS&R of courses offered by the Mortgage Bankers Association or the National Association of Mortgage Brokers by their own facilitators, or review and approval by the NMLS&R of such Mortgage Bankers Association or National Association of Mortgage Brokers courses provided through facilitators approved by them and by the NMLS&R, the applicant shall be required to satisfy four of the twenty-four hours of pre-licensing education by taking said Mortgage Bankers Association or National Association of Mortgage Brokers courses.
(2) For purposes of Paragraph (1) of this Subsection, pre-licensing education courses shall be reviewed and approved by the NMLS&R, and shall include review and approval of course providers; provided however, that until such time as the commissioner determines that the pre-licensing education courses and course providers referred to in this Paragraph are available to satisfy the requirements of Paragraph (1) of this Subsection, the requirements may be met by the completion prior to December 31, 2010, of any pre-licensing education courses or continuing education courses approved by the commissioner in accordance with this Part prior to that date. Such courses approved by the commissioner shall be eligible for inclusion in the total number of hours of pre-licensing education any person is required to complete in order to obtain, or to renew a mortgage loan originator license for any license year beginning on, or prior, to January 1, 2011.
(3) Nothing in this Section shall preclude any pre-licensing education course, as approved by the NMLS&R, that is provided by the employer of an applicant or an entity which is affiliated with the employer by an agency contract, or by any subsidiary or affiliate of such employer or entity.
(4) Pre-licensing education may be offered by any means approved by the NMLS&R.
(5) Unless otherwise provided by a rule issued by the commissioner, a person having successfully completed the pre-licensing education courses approved by the NMLS&R for any other state shall be accepted as credit towards completion of pre-licensing education course requirements in this state.
(6) The pre-licensing education requirements shall apply to all applications for a mortgage loan originator license submitted after July 31, 2009, and to all applications for renewal of a mortgage loan originator license submitted for the 2010 licensing year; provided however that, and notwithstanding any other law to the contrary, any person licensed as a mortgage loan originator on July 30, 2009, shall not be required to meet the minimum requirement of twenty hours of pre-licensing education provided for in this Part, until such person timely submits an application to renew a mortgage loan originator license for the year 2011.
B.(1) In order to meet the annual continuing education requirements pursuant to R.S. 6:1088.3, a licensed mortgage loan originator shall complete at least ten hours of continuing education approved in accordance with Paragraph (2) of this Subsection, which shall include all of the following minimum requirements:
(a) Three hours of federal laws and regulations.
(b) Two hours of ethics, which shall include instruction on fraud, consumer protection, and fair lending issues.
(c) Two hours of training related to lending standards for the nontraditional mortgage product marketplace.
(d) Upon review and approval by the NMLS&R of courses offered by the Mortgage Bankers Association or the National Association of Mortgage Brokers by their own facilitators, or review and approval by the NMLS&R of such Mortgage Bankers Association or National Association of Mortgage Brokers courses provided through facilitators approved by them and by the NMLS&R, the applicant shall be required to satisfy two of the ten hours of continuing education by taking said Mortgage Bankers Association or National Association of Mortgage Brokers courses.
(2) For purposes of Paragraph (1) of this Subsection, continuing education courses shall be reviewed, and approved by the NMLS&R and shall include review and approval of the course provider; provided however, until such time as the commissioner determines that the continuing education courses and course providers referred to in this Paragraph are available to satisfy the requirements of Paragraph (1) of this Subsection, the requirements may be met by completion of any continuing education courses approved by the commissioner in accordance with this Part. Such courses approved by the commissioner shall be eligible for inclusion in the total number of hours of continuing education any person is required to complete in order to renew a mortgage loan originator license for any license year beginning on or prior to January 1, 2011.
(3) Nothing in this Section shall preclude any education course, as approved by the NMLS&R, that is provided by the employer of the mortgage loan originator or an entity which is affiliated with the mortgage loan originator by an agency contract, or any subsidiary or affiliate of such employer or entity.
(4) Continuing education may be provided by any other means approved by the NMLS&R.
(5) Except as provided in Paragraph (6) of this Subsection, a licensed mortgage loan originator:
(a) May only receive credit for a continuing education course in the year in which the course is taken.
(b) May not take the same approved course in the same or successive years to meet the annual requirements for continuing education.
(c) May receive credit for being an instructor of an approved continuing education course, at the rate of two hours of credit for every one hour of instruction, towards the licensed mortgage loan originator's own annual continuing education requirements for the next licensing year after providing such instruction.
(6) The provisions of Subparagraphs (5)(a) and (b) of this Subsection shall not apply to:
(a) Courses approved by the commissioner for inclusion in the total number of hours of pre-licensing education courses required to satisfy the pre-licensing education requirements for any person required to meet the minimum pre-licensing education requirements to obtain a mortgage originator license, or to obtain renewal of a mortgage loan originator license for any license year beginning prior to January 1, 2011.
(b) Courses approved by the commissioner for inclusion in the total number of hours of continuing education courses required to satisfy the continuing education requirements for any person required to meet the minimum continuing education requirements to obtain renewal of a mortgage loan originator license for any license year beginning after the effective date of this Act and prior to January 1, 2011.
(7) A person having successfully completed the continuing education requirements approved by the NMLS&R in this Subsection for any other state shall be accepted as credit towards completion of the continuing education requirements of this Chapter.
(8) A licensed mortgage loan originator who subsequently becomes unlicensed must complete the continuing education requirements for the last year in which the license was held prior to issuance of a new or renewed license.
C.(1)(a) All persons applying for reinstatement or renewal of their mortgage broker, mortgage lender, or originator license shall have completed eight hours of continuing professional education in order to reinstate or renew their license on January first of the following year. Each applicant shall submit documentation to the commissioner from a recognized professional educational institution approved by the commissioner and the board as provided in R.S. 6:1093(B). Proof of the applicant's completion of these continuing professional requirements shall be submitted as part of the applicant's license renewal application.
(b) Each course taught by professional education providers shall include at least thirty minutes of instruction relating to changes or updates on new developments in the residential mortgage lending business, including changes to the Office of Financial Institutions application process and examination procedures, as well as any revisions of the provisions of this Chapter. The applicant shall satisfy four of the remaining hours of required instruction through courses offered or approved by the Mortgage Bankers Association or the National Association of Mortgage Brokers by their own facilitators or facilitators approved by them, which courses shall be presumed to satisfy all requirements of the commissioner and the board as provided in this Subsection and in any regulations adopted by the commissioner.
(2) The commissioner may impose and collect course evaluation fees in an amount not to exceed five hundred dollars paid by the organization sponsoring the continuing education program for recognition that the program satisfies the commissioner's professional education guidelines.
(3) The commissioner may impose and collect course recognition fees in an amount not to exceed fifty dollars, paid by the person participating in a continuing education program which has not been recognized by the commissioner to determine if the course will satisfy the commissioner's guidelines governing required professional education.
D.(1) Beginning July 1, 2000, a nonresident applying for a license to conduct residential mortgage lending activities in the state shall demonstrate that he has completed the educational requirements established under the provisions of this Chapter or is entitled to certification by reciprocity. When the commissioner, in consultation with the board, determines that a nonresident's state has requirements equivalent to or higher than the educational requirements provided for in this Chapter for insuring the qualifications of those engaging in the residential mortgage lending business, the commissioner may issue licenses to such nonresident applicants who have completed the professional education requirements applicable to Louisiana licensees or who have satisfied equivalent professional educational requirements in such other state or jurisdiction.
(2) The nonresident's application for educational certification by reciprocity shall be submitted as part of the nonresident's application for licensure. The nonresident's certification by reciprocity may be renewed in the same manner as provided for other renewals or by demonstrating to the commissioner that he has satisfied comparable requirements in the state or jurisdiction of his domicile.
(3) The commissioner may impose and collect reciprocity analysis fees in an amount not to exceed two hundred dollars paid by the nonresident seeking determination by the commissioner whether the nonresident's state's certification and continuing education requirements are equivalent to or higher than those imposed by the commissioner or whether additional continuing education courses will be required.
E. Beginning in the year 2001, any person receiving certification by reciprocity or examination on July first or later shall not be required to have the ten hours of continuing professional education required for license renewal until December thirty-first of the following year.
F. No person shall hold himself out as being or advertise as a certified mortgage broker, mortgage lender, or originator unless such person has completed the educational requirements established in this Section.
G. Any person engaged in residential mortgage lending on or before August 15, 2003, pursuant to exemptions previously provided by R.S. 6:1087, may obtain a license without completing the professional education or examination requirements in this Section, if they pay all applicable fees and submit completed applications on or before January 1, 2004. Any person applying for licensure pursuant to this Subsection shall comply with the financial responsibility, character, and fitness requirements contained in R.S. 6:1088.
§1094. Professional education required for licensure; continuing education
A.(1) In order to meet the pre-licensing education requirements pursuant to R.S. 6:1088, a person shall complete at least twenty-four hours of education approved in accordance with this Section, which shall include all of the following minimum requirements:
(a) Three hours of federal law and regulations.
(b) Three hours of ethics, which shall include instruction on fraud, consumer protection, and fair lending issues.
(c) Two hours of training related to lending standards for the non-traditional mortgage marketplace.
(d) Upon review and approval by the NMLS&R of courses offered by the Mortgage Bankers Association or the National Association of Mortgage Brokers by their own facilitators, or review and approval by the NMLS&R of such Mortgage Bankers Association or National Association of Mortgage Brokers courses provided through facilitators approved by them and by the NMLS&R, the applicant shall be required to satisfy four of the twenty-four hours of pre-licensing education by taking said Mortgage Bankers Association or National Association of Mortgage Brokers courses.
(2) For purposes of Paragraph (1) of this Subsection, pre-licensing education courses shall be reviewed and approved by the NMLS&R, and shall include review and approval of course providers; provided however, that until such time as the commissioner determines that the pre-licensing education courses and course providers referred to in this Paragraph are available to satisfy the requirements of Paragraph (1) of this Subsection, the requirements may be met by the completion prior to December 31, 2010, of any pre-licensing education courses or continuing education courses approved by the commissioner in accordance with this Part prior to that date. Such courses approved by the commissioner shall be eligible for inclusion in the total number of hours of pre-licensing education any person is required to complete in order to obtain, or to renew a mortgage loan originator license for any license year beginning on, or prior, to January 1, 2011.
(3) Nothing in this Section shall preclude any pre-licensing education course, as approved by the NMLS&R, that is provided by the employer of an applicant or an entity which is affiliated with the employer by an agency contract, or by any subsidiary or affiliate of such employer or entity.
(4) Pre-licensing education may be offered by any means approved by the NMLS&R.
(5) Unless otherwise provided by a rule issued by the commissioner, a person having successfully completed the pre-licensing education courses approved by the NMLS&R for any other state shall be accepted as credit towards completion of pre-licensing education course requirements in this state.
(6) The pre-licensing education requirements shall apply to all applications for a mortgage loan originator license submitted after July 31, 2009, and to all applications for renewal of a mortgage loan originator license submitted for the 2010 licensing year; provided however that, and notwithstanding any other law to the contrary, any person licensed as a mortgage loan originator on July 30, 2009, shall not be required to meet the minimum requirement of twenty hours of pre-licensing education provided for in this Part, until such person timely submits an application to renew a mortgage loan originator license for the year 2011.
B.(1) In order to meet the annual continuing education requirements pursuant to R.S. 6:1088.3, a licensed mortgage loan originator shall complete at least ten hours of continuing education approved in accordance with Paragraph (2) of this Subsection, which shall include all of the following minimum requirements:
(a) Three hours of federal laws and regulations.
(b) Two hours of ethics, which shall include instruction on fraud, consumer protection, and fair lending issues.
(c) Two hours of training related to lending standards for the nontraditional mortgage product marketplace.
(d) Upon review and approval by the NMLS&R of courses offered by the Mortgage Bankers Association or the National Association of Mortgage Brokers by their own facilitators, or review and approval by the NMLS&R of such Mortgage Bankers Association or National Association of Mortgage Brokers courses provided through facilitators approved by them and by the NMLS&R, the applicant shall be required to satisfy two of the ten hours of continuing education by taking said Mortgage Bankers Association or National Association of Mortgage Brokers courses.
(2) For purposes of Paragraph (1) of this Subsection, continuing education courses shall be reviewed, and approved by the NMLS&R and shall include review and approval of the course provider; provided however, until such time as the commissioner determines that the continuing education courses and course providers referred to in this Paragraph are available to satisfy the requirements of Paragraph (1) of this Subsection, the requirements may be met by completion of any continuing education courses approved by the commissioner in accordance with this Part. Such courses approved by the commissioner shall be eligible for inclusion in the total number of hours of continuing education any person is required to complete in order to renew a mortgage loan originator license for any license year beginning on or prior to January 1, 2011.
(3) Nothing in this Section shall preclude any education course, as approved by the NMLS&R, that is provided by the employer of the mortgage loan originator or an entity which is affiliated with the mortgage loan originator by an agency contract, or any subsidiary or affiliate of such employer or entity.
(4) Continuing education may be provided by any other means approved by the NMLS&R.
(5) Except as provided in Paragraph (6) of this Subsection, a licensed mortgage loan originator:
(a) May only receive credit for a continuing education course in the year in which the course is taken.
(b) May not take the same approved course in the same or successive years to meet the annual requirements for continuing education.
(c) May receive credit for being an instructor of an approved continuing education course, at the rate of two hours of credit for every one hour of instruction, towards the licensed mortgage loan originator's own annual continuing education requirements for the next licensing year after providing such instruction.
(6) The provisions of Subparagraphs (5)(a) and (b) of this Subsection shall not apply to:
(a) Courses approved by the commissioner for inclusion in the total number of hours of pre-licensing education courses required to satisfy the pre-licensing education requirements for any person required to meet the minimum pre-licensing education requirements to obtain a mortgage originator license, or to obtain renewal of a mortgage loan originator license for any license year beginning prior to January 1, 2011.
(b) Courses approved by the commissioner for inclusion in the total number of hours of continuing education courses required to satisfy the continuing education requirements for any person required to meet the minimum continuing education requirements to obtain renewal of a mortgage loan originator license for any license year beginning after the effective date of this Act and prior to January 1, 2011.
(7) A person having successfully completed the continuing education requirements approved by the NMLS&R in this Subsection for any other state shall be accepted as credit towards completion of the continuing education requirements of this Chapter.
(8) A licensed mortgage loan originator who subsequently becomes unlicensed must complete the continuing education requirements for the last year in which the license was held prior to issuance of a new or renewed license.
C.(1)(a) All persons applying for reinstatement or renewal of their mortgage broker, mortgage lender, or originator license shall have completed eight hours of continuing professional education in order to reinstate or renew their license on January first of the following year. Each applicant shall submit documentation to the commissioner from a recognized professional educational institution approved by the commissioner and the board as provided in R.S. 6:1093(B). Proof of the applicant's completion of these continuing professional requirements shall be submitted as part of the applicant's license renewal application.
(b) Each course taught by professional education providers shall include at least thirty minutes of instruction relating to changes or updates on new developments in the residential mortgage lending business, including changes to the Office of Financial Institutions application process and examination procedures, as well as any revisions of the provisions of this Chapter. The applicant shall satisfy four of the remaining hours of required instruction through courses offered or approved by the Mortgage Bankers Association or the National Association of Mortgage Brokers by their own facilitators or facilitators approved by them, which courses shall be presumed to satisfy all requirements of the commissioner and the board as provided in this Subsection and in any regulations adopted by the commissioner.
(2) The commissioner may impose and collect course evaluation fees in an amount not to exceed five hundred dollars paid by the organization sponsoring the continuing education program for recognition that the program satisfies the commissioner's professional education guidelines.
(3) The commissioner may impose and collect course recognition fees in an amount not to exceed fifty dollars, paid by the person participating in a continuing education program which has not been recognized by the commissioner to determine if the course will satisfy the commissioner's guidelines governing required professional education.
D.(1) Beginning July 1, 2000, a nonresident applying for a license to conduct residential mortgage lending activities in the state shall demonstrate that he has completed the educational requirements established under the provisions of this Chapter or is entitled to certification by reciprocity. When the commissioner, in consultation with the board, determines that a nonresident's state has requirements equivalent to or higher than the educational requirements provided for in this Chapter for insuring the qualifications of those engaging in the residential mortgage lending business, the commissioner may issue licenses to such nonresident applicants who have completed the professional education requirements applicable to Louisiana licensees or who have satisfied equivalent professional educational requirements in such other state or jurisdiction.
(2) The nonresident's application for educational certification by reciprocity shall be submitted as part of the nonresident's application for licensure. The nonresident's certification by reciprocity may be renewed in the same manner as provided for other renewals or by demonstrating to the commissioner that he has satisfied comparable requirements in the state or jurisdiction of his domicile.
(3) The commissioner may impose and collect reciprocity analysis fees in an amount not to exceed two hundred dollars paid by the nonresident seeking determination by the commissioner whether the nonresident's state's certification and continuing education requirements are equivalent to or higher than those imposed by the commissioner or whether additional continuing education courses will be required.
E. Beginning in the year 2001, any person receiving certification by reciprocity or examination on July first or later shall not be required to have the ten hours of continuing professional education required for license renewal until December thirty-first of the following year.
F. No person shall hold himself out as being or advertise as a certified mortgage broker, mortgage lender, or originator unless such person has completed the educational requirements established in this Section.
G. Any person engaged in residential mortgage lending on or before August 15, 2003, pursuant to exemptions previously provided by R.S. 6:1087, may obtain a license without completing the professional education or examination requirements in this Section, if they pay all applicable fees and submit completed applications on or before January 1, 2004. Any person applying for licensure pursuant to this Subsection shall comply with the financial responsibility, character, and fitness requirements contained in R.S. 6:1088.
