Loan Originators - continuing education requirements
The State of Oregon, the Oregon Association of Mortgage Professionals and the Mortgage Lending Education Board held an emergency meeting this month to discuss continuing education testing requirements.
The purpose of this meeting was to bring clarification about the requirements established for loan originators. They will no longer be required to take proctored tests for continuing education courses.
This decision is effective July 1, 2006.
**This does not impact entry-level education requirements. Originators, both in and out of state, are still required to take a proctored state exam as part of the entry level requirement.
Q - Will I still be required to take an exam as part of my entry-level education
Q - I already took my proctored exam after an on-line education course.
Since the rules have changed am I eligible for a refund?
Q - If I take the same course more than once, can it count toward my 20
hours of CE?
Q - What are the consequences to Brokers if they have originators working
for them who do not have the required education completed?
Q - I have been an originator in another State for 7 years. As an entry-level
originator in Oregon, do I really have to take a 20 hour course prior to taking
my State test?
Q - May course providers of MLEB-approved courses still require examinations
and minimum passing scores to receive certificates of completion?