The Colorado Department of Regulatory Agencies, Division of Real Estate, recently amended the rules governing the pre-licensing education requirements for mortgage loan originators. With regard to the required twenty (20) hours of pre-licensing education, the following types of individuals must complete this education within the three (3) years preceding the date of application when applying (or re-applying) for licensure as a Colorado mortgage loan originator:
- A first time mortgage loan originator license applicant.
- Individuals who have failed to maintain an active valid license for at least three (3) years.
- Individuals who have failed to maintain a valid license – additional requirements apply depending on how long it has been since the license expired and whether the individual was compliant with the annual continuing education requirements at the time of license expiration.
The new rules take effect on November 14, 2018.