2009 is a transition year for course providers.  The National Mortgage Licensing System (NMLS) folks in WA DC will eventually take over licensing, testing, and education as per the SAFE Mortgage Licensing Act.  Course providers approved by WA State DFI will still be offering courses during the fall of 2009. However, it is very important for LOs and brokers to be aware that course providers must make sure the courses we deliver for 2009 renewal are in compliance with the education requirements set forth in the SAFE Mortgage Licensing Act.  Here’s what LOs need for 2009 renewal:

3 hours of federal law
2 hours of ethics, fraud, consumer protection, and fair housing
2 hours of non-traditional lending
1 hour of undefined instruction.
Brokers must take one additional hour.
If you’d like to read more about the continuing ed course topics, I have a page set up on the NAMF website.

Last year, LOs had to take two 3-hour classes for a total of six hours. Only new brokers and LOs were required to take ethics.  This year you’ll need to take 8 hours (9 hours for brokers) and the classes you take will need to fall into the above topic categories.  In WA State, our DFI rules say that continuing ed classes must be at least 3 hours in length. Now let’s talk about different options for how LOs can take these courses. Last year I polled LOs in Nov and Dec and most everyone said they wanted to take all 8 hours in one day.  The downside to this idea is that we’ll have to start at 8AM and go all the way to 5PM.  All day classes don’t work for everyone so watch for combination classes.  For example you might decide to take three, 3 hour classes or one 3 hour class and one 5 hour class.  I plan to experiment with all options.  I’ll throw some budget-priced classes in the mix like last fall, but class prices will be higher because of the costs NMLS is charging course providers.  If you’d rather take your CE all in one day, email me at jillayne at ceforward dot com and if I get lots of requests, I’ll put something on the calendar for Sept.