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12 U.S.C. § 5105

Standards for State license renewal

United States · Title 12 — BANKS AND BANKING · Status: effective

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12 U.S.C. § 5105, Standards for State license renewal, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/438899
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The minimum standards for license renewal for State-licensed loan originators shall include the following: In order to meet the annual continuing education requirements referred to in subsection (a)(2), a State-licensed loan originator shall complete at least 8 hours of education approved in accordance with paragraph (2), which shall include at least— For purposes of paragraph (1), continuing education courses shall be reviewed, and approved by the Nationwide Mortgage Licensing System and Registry. A State-licensed loan originator— A State-licensed loan originator who is approved as an instructor of an approved continuing education course may receive credit for the originator’s own annual continuing education requirement at the rate of 2 hours credit for every 1 hour taught. To maintain the independence of the approval process, the Nationwide Mortgage Licensing System and Registry shall not directly or indirectly offer any continuing education courses for loan originators. In approving courses under this section, the Nationwide Mortgage Licensing System and Registry shall apply reasonable standards in the review and approval of courses.

Legislative history

The public laws that enacted or amended this section. Tallies are for the whole bill as it passed each chamber — often an omnibus covering far more than this provision — not a vote on this section alone.