What are the continuing education and testing requirements?
During each 24-month period from your "continuing education date," you are required to take 20 hours of continuing education courses that have been approved by the MLEB.

If I take 16 hours of continuing education courses, and then take another 8-hour courses, can the extra 4 hours be rolled over to the next 24-month period?
No. Each 24-month is a separate period of time. Every loan originator must take a minimum of 20 hours of continuing education classes during each 24-month period, but courses taken over this amount do not carry over to the next period.

When does the 24-month period begin?
The original Notification Date that you were registered with the State of Oregon DFCS as a loan originator under a licensed mortgage company. This date is your CE date or continuing education date. To find your CE date, visit the State of Oregon website.

What happens if I don’t complete my continuing education requirement?
You must stop working immediately as a loan originator. You must take the entry-level course and pass the entry-level exam before being qualified to work again as a loan originator.

I have taken several classes over the past two years. May I apply any of those courses to the entry-level or continuing education requirement?
You can only apply courses that have been certified by the MLEB. You will need to verify if any of the classes were certified by the MLEB. The MLEB website has a list of approved providers.

I took a class that was certified after I took the class. Can I use that class towards my education requirement?
No. If the company offering the class did not have the course certified at the time you took it, it can not be used toward your education requirement even if it is certified at a later date.

What is the difference between a “certified loan originator” and a “licensed mortgage lender” in Oregon?
Loan originators, sometimes called mortgage lenders or loan officers, are NOT required to be licensed in Oregon. However, they are required to certify that they have completed 20 hours of education and passed a state exam in order to work as a loan originator. Loan originators generally work for mortgage brokers who must be licensed and bonded.

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