If you’re a mortgage loan officer (MLO), you already know that keeping your license active isn’t a one-and-done process. Each year, you need to complete Continuing Education (CE) to stay compliant and keep doing business. The rules aren’t hard, but there are a few details, like state-specific requirements and deadlines you can’t afford to miss.
Let’s break it all down in plain language.
What Are the NMLS CE Requirements?
Most mortgage professionals need 8 hours of CE every year. That includes:
- 3 hours of Federal Law
- 2 hours of Ethics (topics like fraud, fair lending, and consumer protection)
- 2 hours of Nontraditional Mortgage Products
- 1 hour of electives or state-specific content
Some states go beyond the basics. For example:
- New Jersey requires 12 hours total
- New York requires 11 hours total
- Oregon and Utah DRE require 10 hours total
- Washington and West Virginia require 9 hours total
The good news? You can complete all of this online, usually at your own pace.
How Much Does It Cost to Renew?
The price for CE isn’t the same everywhere. States that require more hours tend to cost more. Different providers also charge different rates.
On average, you’ll spend $50 to $100 per year on CE. We focus on offering a smooth, easy-to-use online learning experience that helps you get it done without stress.
What Does “Banking/Reporting” CE Credits Mean?
This part trips some people up. When you finish a course, your provider has to report (or “bank”) your credits directly to the NMLS system. You don’t have to send them yourself.
When you complete your courses with us, your credits are sent within 1 business day and tied to your unique NMLS ID. Once that’s done, you’re officially covered.
Don’t Miss These Deadlines
Here’s where things get serious. The license renewal cycle opens on November 1 each year. The NMLS sets three key deadlines:
- SMART Deadline – December 5
The recommended date to finish everything. If you hit this, you’re safe. - At-Risk-To-Miss Deadline – December 12
You might squeak through, but delays are possible. - Guaranteed-To-Miss Deadline – December 26
Miss this, and your license will go inactive.
What Happens If You Don’t Complete CE?
Failing to complete CE by the outlined dates has real consequences:
- Your license will go inactive, and you legally can’t originate loans.
- To reactivate, your employer has to restart the process, you’ll need to finish any missing CE (“Late CE”), and you’ll likely owe fees.
- If you don’t complete renewal during the reinstatement period (which runs through the end of February), you’ll lose your license completely and must retake pre-licensing education (PLE) and reapply.
The takeaway? Don’t gamble with deadlines. Complete your CE by the SMART deadline (December 5), and you’ll avoid headaches, late fees, and downtime in your business.
Conclusion
Mortgage CE isn’t optional, it’s the law. But the process doesn’t have to be stressful. Knock out your 8+ hours early, keep track of your state-specific rules, and let us handle the reporting.
The sooner you finish, the sooner you can stop worrying about deadlines and get back to focusing on clients, deals, and growing your business.