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Pennsylvania

Mortgage Pre-licensing Education Requirements

This information is intended to provide answers to commonly asked questions. It is not intended to replace detailed information found in your state's statutes and regulations. Though we have made reasonable efforts to ensure that the information given is reliable and current, we cannot guarantee that it is. For more information please take advantage of the resource links below.

SPECIAL NOTICE REGARDING NMLS ID NUMBERS

All MLOs need to have a unique NMLS ID number in order to have their course completions recorded in NMLS. You may obtain your NMLS ID Number and find other important information in the NMLS resource center.
Click here to visit the NMLS resource center.

Mortgage Loan Originators Licensure Quick Facts

All existing Pennsylvania Mortgage Loan Originators and new MLOs must:
Register with the NMLS and obtain a unique ID Number
• Successfully complete an NMLS approved 20-hour pre-license course
• Pass an NMLS administered state and national exam to qualify for licensure.
• Pass a national background check

Credit Reporting

Cape will report CE credits to the NMLS the next business day after successful completion of the course final exam. We MUST have your NMLS number in order to report your completion (see "Register with the NMLS" above).

Pre-Licensure Education Requirements

New state-licensed MLOs are required to complete 20 hours of NMLS-approved education. This education must include 3 hours of Federal law, 3 hours of ethics (which shall include fraud, consumer protection, and fair lending issues), 2 hours of non-traditional mortgage lending, 9 hours of undefined education (referred to as electives) + 3 hours of PA law. Number of hours is 3/3/2/9/+ 3 hrs of PA law = 20

Pennsylvania has a requirement for 3 hours of instruction on state-specific law which may be satisfied by either taking a PA comprehensive course or a state-specific elective course. New MLOs will be tested on Pennsylvania mortgage lending law as referenced in the Pennsylvania State Test Component Reference List .

Continuing Education Requirements

 To comply with the SAFE Act’s “successive years” rule, MLOs are not permitted to take the same CE course two years in a row.

Every state-licensed MLO (in any approved status) is required to complete at least 8 hours of NMLS approved education annually beginning the first year after they completed PE (see chart below). Annual CE education must include 3 hours of Federal law, 2 hours of ethics (which shall include fraud, consumer protection, and fair lending issues), and 2 hours of non-traditional mortgage lending, plus 1 hour of PA-specific education. Number of hours is 3/2/2/ + 1 hr of PA law = 8

Am I required to take Continuing Education this year?

If I completed SAFE Act PE in 2009, 2010, 2011 or 2012 and I was approved for an initial license in 2009, 2010, 2011 or 2012 am I required to complete CE in 2013 YES
If I completed SAFE Act PE in 2009, 2010, 2011 or 2012 and I was approved for an initial license in 2013 am I required to complete CE in 2013 YES
If I completed SAFE Act PE in 2013 and I was approved for an initial license in 2013 am I required to complete CE in 2013 No

Deadline

The deadline to complete CE is December 31, 2013. However, MLOs in Pennsylvania are prohibited from submitting an application to renew their license if they have not completed CE. Since it may take as long as seven (7) days for a course provider to report a course completion into NMLS, MLOs are strongly encouraged not to wait until the last minute to try to complete CE or they may be prevented from submitting for renewal on time.

Contact Information:

If you are having trouble using NMLS or need assistance in using it, phone the NMLS Call Center at (240) 386-4444.

Nationwide Mortgage Licensing System

State Regulatory Registry, LLC
1155 Connecticut Ave. NW
Fifth Floor
Washington, D.C. 20036-4307
NMLS resource center

If you have a question concerning a state's licensing requirement or how to use NMLS to meet your state's licensing requirements, please click here:

Contact Information
The Department of Banking
Market Square Plaza
17 North Second Street
Harrisburg, PA 17101

 

   
Contact Cape:
Cape School, Inc.
P.O. Box 9
Buckingham, VA 23921

 

Phone: 800-769-1974
Fax: 888-303-1828
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