443.723. 1. To meet the annual continuing education requirementsreferred to in sections 443.701 to 443.893, a licensed mortgage loanoriginator shall complete at least eight hours of education approved inaccordance with subsection 2 of this section, which shall include at least:
(1) Three hours of federal law and regulations;
(2) Two hours of ethics, which shall include instruction on fraud,consumer protection, and fair lending issues; and
(3) Two hours of training related to lending standards for thenontraditional mortgage product marketplace.
2. For purposes of subsection 1 of this section, continuing educationcourses shall be reviewed, and approved by the NMLSR based upon reasonablestandards. Review and approval of a continuing education course shallinclude review and approval of the course provider.
3. Nothing in this section shall preclude any education course, asapproved by the NMLSR, that is provided by the employer of the mortgageloan originator or person who is affiliated with the mortgage loanoriginator by an agency contract, or any subsidiary or affiliate of suchemployer or person.
4. Continuing education may be offered either in a classroom,on-line, or by any other means approved by the NMLSR.
5. A licensed mortgage loan originator:
(1) Shall only receive credit for a continuing education course inthe year in which the course is taken except in the case of an expiredlicense and under subsection 9 of this section; and
(2) Shall not take the same approved course in the same or successiveyears to meet the annual requirements for continuing education.
6. A licensed mortgage loan originator who is an approved instructorof an approved continuing education course may receive credit for thelicensed mortgage loan originator's own annual continuing educationrequirement at the rate of two hours credit for every one hour taught.
7. A person having successfully completed the education requirementsapproved by the NMLSR in subdivisions (1) to (3) of subsection 1 of thissection for any state shall be accepted as credit towards completion ofcontinuing education requirements in Missouri.
8. A licensed mortgage loan originator who subsequently becomesunlicensed shall complete the continuing education requirements for thelast year in which the license was held prior to issuance of a new orrenewed license.
9. A person meeting the requirements of subdivisions (1) and (3) ofsubsection 2 of section 443.719 may make up any deficiency in continuingeducation as established by rule of the director.
443.723. 1. To meet the annual continuing education requirementsreferred to in sections 443.701 to 443.893, a licensed mortgage loanoriginator shall complete at least eight hours of education approved inaccordance with subsection 2 of this section, which shall include at least:
(1) Three hours of federal law and regulations;
(2) Two hours of ethics, which shall include instruction on fraud,consumer protection, and fair lending issues; and
(3) Two hours of training related to lending standards for thenontraditional mortgage product marketplace.
2. For purposes of subsection 1 of this section, continuing educationcourses shall be reviewed, and approved by the NMLSR based upon reasonablestandards. Review and approval of a continuing education course shallinclude review and approval of the course provider.
3. Nothing in this section shall preclude any education course, asapproved by the NMLSR, that is provided by the employer of the mortgageloan originator or person who is affiliated with the mortgage loanoriginator by an agency contract, or any subsidiary or affiliate of suchemployer or person.
4. Continuing education may be offered either in a classroom,on-line, or by any other means approved by the NMLSR.
5. A licensed mortgage loan originator:
(1) Shall only receive credit for a continuing education course inthe year in which the course is taken except in the case of an expiredlicense and under subsection 9 of this section; and
(2) Shall not take the same approved course in the same or successiveyears to meet the annual requirements for continuing education.
6. A licensed mortgage loan originator who is an approved instructorof an approved continuing education course may receive credit for thelicensed mortgage loan originator's own annual continuing educationrequirement at the rate of two hours credit for every one hour taught.
7. A person having successfully completed the education requirementsapproved by the NMLSR in subdivisions (1) to (3) of subsection 1 of thissection for any state shall be accepted as credit towards completion ofcontinuing education requirements in Missouri.
8. A licensed mortgage loan originator who subsequently becomesunlicensed shall complete the continuing education requirements for thelast year in which the license was held prior to issuance of a new orrenewed license.
9. A person meeting the requirements of subdivisions (1) and (3) ofsubsection 2 of section 443.719 may make up any deficiency in continuingeducation as established by rule of the director.
443.723. 1. To meet the annual continuing education requirementsreferred to in sections 443.701 to 443.893, a licensed mortgage loanoriginator shall complete at least eight hours of education approved inaccordance with subsection 2 of this section, which shall include at least:
(1) Three hours of federal law and regulations;
(2) Two hours of ethics, which shall include instruction on fraud,consumer protection, and fair lending issues; and
(3) Two hours of training related to lending standards for thenontraditional mortgage product marketplace.
2. For purposes of subsection 1 of this section, continuing educationcourses shall be reviewed, and approved by the NMLSR based upon reasonablestandards. Review and approval of a continuing education course shallinclude review and approval of the course provider.
3. Nothing in this section shall preclude any education course, asapproved by the NMLSR, that is provided by the employer of the mortgageloan originator or person who is affiliated with the mortgage loanoriginator by an agency contract, or any subsidiary or affiliate of suchemployer or person.
4. Continuing education may be offered either in a classroom,on-line, or by any other means approved by the NMLSR.
5. A licensed mortgage loan originator:
(1) Shall only receive credit for a continuing education course inthe year in which the course is taken except in the case of an expiredlicense and under subsection 9 of this section; and
(2) Shall not take the same approved course in the same or successiveyears to meet the annual requirements for continuing education.
6. A licensed mortgage loan originator who is an approved instructorof an approved continuing education course may receive credit for thelicensed mortgage loan originator's own annual continuing educationrequirement at the rate of two hours credit for every one hour taught.
7. A person having successfully completed the education requirementsapproved by the NMLSR in subdivisions (1) to (3) of subsection 1 of thissection for any state shall be accepted as credit towards completion ofcontinuing education requirements in Missouri.
8. A licensed mortgage loan originator who subsequently becomesunlicensed shall complete the continuing education requirements for thelast year in which the license was held prior to issuance of a new orrenewed license.
9. A person meeting the requirements of subdivisions (1) and (3) ofsubsection 2 of section 443.719 may make up any deficiency in continuingeducation as established by rule of the director.
