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Residential Mortgage Licensee Education

Education for MLOs

Section 58A.06 of Minnesota Statutes requires individuals who engage in residential mortgage origination or make residential mortgage loans, to complete at least 20 hours of pre-licensure (PE) education which has been approved by the NMLS. The training must include at least:

  • 3 hours of federal law and regulations;

  • 3 hours of ethics, which includes instruction on fraud, consumer protection, and fair lending issues; and

  • 2 hours of training related to lending standards for the nontraditional mortgage product marketplace.

In addition to initial education requirements, each individual must complete 8 hours of continuing education (CE) annually. The education must include:

  • 3 hours of federal law and regulations;

  • 2 hours of ethics, including fraud, consumer protection, and fair lending; and

  • 2 hours of standards governing nontraditional mortgage lending.

If you have questions or concerns about license education, please contact the NMLS Call Center at 240-386-4444.

Testing for MLOs

All MLOs must complete both the National and State Component Test before a license can be approved. The content outline for both tests is published in the NMLS Resource Center. Testing center information can be found on the NMLS web site.

Approved Courses

Residential Mortgage Education courses need to be approved by the NMLS. View a list of NMLS approved courses.