A show of hands for those lenders who have recently encountered the auditor! If your records were up to speed, no sweat, right? For the rest of you, a quick ProSchools’ review may help prepare your office:
When the testing procedure for Oregon’s Entry Level Mortgage Originators changed in 2006, the certificate delivery for Entry Level education changed drastically. As a result, ProSchools received numerous phone calls from office managers and employers who are searching for educational records, in addition to the one provided by AMP, the state designated testing provider. I’m here to help summarize.No separate educational certificate is necessary for Entry Level after January 2006, as it must be obtained from the testing provider upon successful completion of the state test. Remember, the educational completion is electronically reported on your behalf, directly to the testing provider!
The good news is that things changed for the better in 2006, making record keeping easier for Mortgage Originators!
The unfortunate news is, not everyone knew it at the time. So it’s good to know where to go when you have questions about your status and records requirements, and that is directly to the MLEB, the ultimate authority on Oregon Mortgage Lending educational standards!
Informative FAQ’s and an online e-mail inquiry form are available directly on the web.
State of Oregon FAQ’s: http://www.cbs.state.or.us/dfcs/faqs/faq_pages/mortgage.html
Oregon MLEB FAQ’s: http://oregonmleb.com/mortgageoriginatorfaqs.htm
As always, please contact ProSchools Regulatory Department for clarification and assistance with past records with our school. We’re here to help you keep your records straight!