5 Del. Admin. Code § 2401-8.0

Current through Reigster Vol. 28, No. 6, December 1, 2024

Section 2401-8.0 - Pre- Licensing Education

8.1 To meet the pre-licensing education requirements of § 6.1.4, an applicant must complete at least 20 hours of education that include:

8.1.1 federal law and regulations - 3 hours;

8.1.2 ethics, to include instruction on fraud, consumer protection, and fair lending issues - 3 hours; and

8.1.3 lending standards for the nontraditional mortgage product marketplace - 2 hours.

8.2 All pre-licensing education courses must be approved by the Nationwide Mortgage Licensing System and Registry.

8.3 Pre-licensing education may be offered either in a classroom, online or by any other means and at any location approved by the Nationwide Mortgage Licensing System and Registry.

8.4 Any pre-licensing education courses specified in § 8.1.1 to § 8.1.3 that are approved by the Nationwide Mortgage Licensing System and Registry for any other state shall be accepted as credit towards completion of the pre-licensing education requirements in this State.

8.5 A person previously licensed under the statute and this regulation subsequent to the effective date of the statute and this regulation applying to be licensed again must have completed all of the continuing education requirements for the year in which the previous license was last held.

5 Del. Admin. Code § 2401-8.0