ProSchools just got approval for two courses by the NMLS — the 20 hour West Virginia SAFE Comprehensive course and 2 hour West Virginia Law course. Like other states, West Virginia mortgage loan originators need to complete minimum education and testing standards.
According to NMLS, all new West Virginia applicants on or after 1/4/2010 need to complete 20 hours of NMLS approved education, including 2 hours of West Virginia laws. Existing licensees prior to July 1, 2009 need to complete the education by 10/31/2010, unless the licensee already completed 20 hours of state approved education prior to 12/31/2009. In this cases, they could get their hours “certified.”
Anyone approved between 7/1/2009 and 12/31/2009 needed to complete 20 hours of NMLS approved pre-license education, including the 2 hours of WV specific by 1/31/2010. State approved courses are not longer accepted after 12/31/2009.
Important change: Effective June 12, West Virginia has increased the pre-licensing education requirement for MLOs from 20 hours to 22 hours and specified that two hours of the education must be related to West Virginia mortgage and consumer laws or issues.
ProSchools currently offers a 20 hour NMLS-approved National course, plus 20 hour NMLS-approved courses (containing state-specific laws) for Arizona, California, DC, Georgia Idaho, Indiana, Iowa, Louisiana, Kentucky, Massachusetts, Maryland, Michigan, Nebraska, New Hampshire, New Jersey, New York, New Mexico, Pennsylvania, Rhode Island, Vermont, Virginia, Washington, and West Virginia.
In addition, ProSchools has state-specific law courses approved in Arizona, California, Maryland, Massachusetts, Idaho, Indiana, Pennsylvania, Rhode Island, New York, DC, New Mexico, West Virginia, and Washington. We also have individual courses in ethics and nontraditional mortgage products approved.
Quick reminder on CE: The SAFE Act also requires loan originators complete continuing education annually. Most states won’t require continuing education in 2010 since loan originators are completing pre-licensure education this year. ProSchools has 5 continuing education courses NMLS-approved. Over the next couple of months, we will have state-specific CE courses approved for states requiring state-specific laws as part of the CE requirements.