Information Regarding Proctored
Testing
Oregon State FAQ's
Nationwide Mortgage Licensing System Resource Center
The MLEB:
The MLEB was certified on
January 2, 2002 by the State of Oregon, Department of Consumer and
Business Services, Division of Finance and Corporate Securities to
approve Entry-Level training or Continuing Education curricula for
mortgage loan originators pursuant to Chapter 952, 2001 Oregon Laws.
The specific purpose of the MLEB
is to promote items of common interest to the education of loan
originators and other persons in the mortgage industry.The Mortgage
Lending Education Board (MLEB) was organized and is operated
exclusively for education within the scope of 501 (c) (3) of the
Internal Revenue Code of 1986, as amended.
The courses that the MLEB will
approve are limited to residential lending subjects for "Entry-Level
Education" and "Continuing Education" as defined by the MLEB Course
Approval Procedures. Course affiliated entities (providers), in
order to have their course meet the certified status of education
credit hours, must obtain approval from the MLEB of the course
content, materials, course instructors and any subsequent changes.
The MLEB’s certification to approve new Oregon entry-level and
continuing education courses expired as of December 31, 2009 as
Oregon is joining the Nationwide Mortgage Licensing System (NMLS),
which will approve education going forth. As part of the
transition, all MLEB approvals for entry-level courses expired on
December 31, 2009. These courses may not be used going forth to
meet entry-level education requirements in Oregon. Loan originators
who need entry-level education must instead take a pre-licensure
course approved by the NMLS, for more information regarding the NMLS
click here:
http://mortgage.nationwidelicensingsystem.org/profreq/education/Pages/default.aspx.
However, MLEB’s approval for continuing education will not expire
until December 31, 2010. Therefore, any continuing education course
approved by MLEB as of December 31, 2009 will be approved for loan
originators to use to meet their existing Oregon continuing
education requirements through December 31, 2010.
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