What are the continuing education requirements?
Idaho mortgage lending licensees and designated Qualified Persons in Charge are required to complete 16 hours of continuing education within each reporting period. Of those 16 hours, you must meet certain hours requirements in the following topics:

• 2 hours related to the Idaho Residential Mortgage Practices Act
• 2 hours of Ethics

The initial reporting period for licensed loan originators begins on November 1st immediately succeeding initial licensure. CE must be done by October 31st every two years.

When does my continuing education reporting period start?
Your initial reporting period will begin on November 1st immediately succeeding the date of your initial licensure. For example, if your license was issued in August 2006, your initial two-year continuing education reporting period will begin November 1, 2006, and will end on October 31, 2008. If your license is issued on November 4, 2006, your initial reporting period won't begin until November 1, 2007 and will end on October 31, 2009.

If I get a license issued in September, will I have to renew in October and pay more fees?
Licenses issues after September 1, will be issued with expiration dates of the following year and will not be required to be renewed in the calendar year issued. Licenses issued prior to September 1 will be required to be renewed in the year issued.

Can I carry over continuing education hours from one renewal period
to the next?
No. Credit hours accrued in excess of the required 16 hours in any reporting period will not carry over or be credited in any subsequent reporting period.

What happens if I don’t complete my continuing education requirement?
Course completion certificates may be submitted at any time during the reporting period, but must be delivered no later than 30 days following the expiration of each reporting period to avoid suspension or revocation of license.

What happens if I don’t renew my license on time? Is there a late fee?
If a renewal is not filed, or completed, by October 31, the loan originator license will expire by operation of law. That means all origination activity must cease until a new license application is filed and granted. The department will review all renewal applications postmarked by October 31. However, if the renewal is incomplete, there is no extra time available to complete it or late fees to be paid that will continue the existing license.

Where can I get information of courses I can take?
The Department will make this information available on its website as it becomes available. For a list of ProSchools courses, click here.

What are the requirements to be licensed as a loan originator in Idaho?
Visit ProSchools' License Requirements page for detailed information on becoming licensed as a loan originator in Idaho.