Time is quickly running out for loan originators to meet the renewal requirements for the Nationwide Mortgage Licensing System.
There were 115,826 state-licensed or state-registered mortgage loan originators who maintained a total of 243,840 licenses as of Sept. 30.
Each of these originators who plan to maintain their NMLS registration in 2013 are required to complete at least eight hours of NMLS approved continuing education.
NMLS said Thursday in a notice to originators that it recommends the courses be reported by Dec. 21.
Course providers have seven days to report completion.
Originators whose completion isn’t reported until this Friday are at risk of missing their renewals, according to NMLS.
NMLS indicated that courses reported on Dec. 31 are “guaranteed to miss renewal.”
“A majority of state regulators will prevent the submission of a renewal request if continuing education has not be completed,” the notice said.
