Mortgage Originators Settle Fees for Continuing Education Violations Finance & Banking

United States: Mortgage originators settle fees for continuing education violations

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Forty-four state financial regulators installed charges brought against more than 400 mortgage originators across the country for misrepresentation of completing annual state and federal continuing education requirements.

The Conference of State Banking Supervisors (“CSBS”) said the Offerors agreed to (i) surrender their licenses for three months, (ii) pay a fine of $1,000 for each state in which it holds a license, and (iii) complete additional continuing education beyond federal and state requirements.

Additionally, CSBS said the owner of course provider Real Estate Educational Services is facing enforcement action for (i) providing false certificates and (ii) taking courses on behalf of loan originators. mortgages.

Primary sources

  1. State Banking Supervisors’ Conference Press Release: State Regulators Agree with Hundreds of Mortgage Originators on SAFE Act Education Requirements

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