As a Florida mortgage loan originator, you know that continuing education is a requirement for maintaining your license. With the new year quickly approaching, it’s important to make sure you’re up to date on the latest continuing education requirements.
The Florida Office of Financial Regulation (OFR) requires all mortgage loan originators to complete at least 8 hours of continuing education each year. This includes 4 hours of state-specific education and 4 hours of federal law and regulation. The state-specific education must include topics such as Florida mortgage laws, consumer protection, and ethics. The federal law and regulation education must include topics such as the Real Estate Settlement Procedures Act (RESPA), the Truth in Lending Act (TILA), and the Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act).
In addition to the 8 hours of continuing education, mortgage loan originators must also complete a 2-hour course on the prevention of mortgage fraud. This course must be completed every two years.
It’s important to note that the OFR requires all continuing education courses to be approved by the Nationwide Mortgage Licensing System (NMLS). This means that you must take courses from an approved provider in order for them to count towards your continuing education requirements.
Finally, it’s important to keep track of your continuing education credits. The OFR requires all mortgage loan originators to maintain records of their continuing education credits for at least four years. This includes the date of completion, the name of the course, and the number of credits earned.
By staying up to date on the latest continuing education requirements, you can ensure that you remain in compliance with the OFR and maintain your license. So, get ready for the new year and make sure you’re prepared to meet your continuing education requirements.