To become a state licensed loan originator, how many hours of pre-licensure education are required?

To become a state-licensed loan originator, 20 hours of pre-licensure education is required. This requirement is established by the S.A.F.E. Mortgage Licensing Act, which aims to ensure that all loan originators receive a foundational level of training before engaging in mortgage lending practices. The 20-hour coursework typically includes federal and state-specific laws, ethics, and essential mortgage products and practices, which prepares individuals to effectively serve consumers and comply with legal requirements in the mortgage industry. This education is a crucial step in promoting professionalism and competency within the field.