California Business and Professions Code

§ 10166.10

BPC § 10166.10 Effective Jan 1, 2023Div. 4 · Part 1 · Ch. 3 · Art. 2.1

Statute text

(a)A mortgage loan originator shall complete at least eight hours of continuing education annually, which shall include at least three hours relating to federal law and regulations, two hours of ethics, which shall include instruction on fraud, consumer protection, and fair lending issues, and two hours related to lending standards for the nontraditional mortgage product marketplace.

(b)For purposes of subdivision (a), continuing education courses and course providers shall be reviewed and approved by the commissioner and the Nationwide Multistate Licensing System and Registry.

(c)The commissioner shall have the authority to substitute any of the courses described in subdivision (a) for the course requirements of Section 10170.5, subject to a finding that the course requirements in subdivision (a) and the course completion standards in subdivision (g) of Section 10166.06 are substantially equivalent to, and meet the intent of, Section 10170.5.

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Legislative history

Amended by Stats. 2022, Ch. 511, Sec. 64. (SB 1495) Effective January 1, 2023.