 REQUIRED CONTINUING EDUCATION IN KANSAS:
Operations Managers and Loan Officers must meet state requirements.
DEFINITIONS:
Operations Manager - the individual responsible for the everyday operations, compliance requirements, and management of a mortgage broker business.
Loan officer - an employee who originates mortgage loans in consideration of direct or indirect gain, profit, fees, or charges. Loan officer also includes an employee who solicits financial and mortgage information from the public for sale to another mortgage broker.
INITIAL TRAINING:
Operations Manager or the designated person on the initial application, possesses at least three years of experience in the mortgage and lending field, which experience may include employment with or as a mortgage broker or with a financial institution, mortgage lending institution, or other lending institution, or possesses at least three years of other experience related specifically to the business of mortgage loans that the superintendent determines meets the requirements.
Each person designated as operations manager for a mortgage broker business shall submit to an examination approved by the superintendent of financial institutions.
* Each licensee, within ninety days after the original issuance of the loan officer license, shall successfully complete an examination approved by the superintendent. Failure to comply with this division results in the termination of the license by operation of law.
* Licensee- means any person that has been issued a loan officer license.
RENEWAL:
On and after January 1, 2003 , the operations manager designated has completed, during the immediately preceding calendar year , at least six hours of continuing education as required.
On and after January 1, 2003 , the loan officer has completed, during the immediately preceding calendar year , at least six hours of continuing education. No carry over hours.
RENEWAL DATE:
Annually on or before April 30 of each year
CLASSES APPROVED BY OHIO DEPARTMENT
OF COMMERCE FOR CONTINUING EDUCATION:
The following "Live" Capstone courses are approved for Continuing Education Credits:
FAMILY MEMBER DISCOUNT:
Spouses or Children may receive 50% off of Capstone's regular live tuition fees for the live Principles of Mortgage Finance & Fundamentals of Loan Processing courses. To qualify for this discount all family members must attend the training at the same time!
FOR MORE INFORMATION:
Call (800) 229-8556 with any questions regarding Continuing Education.
Email: customerservice@capinst.com
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