UPDATES FOR COURSE PROVIDERS
(Changes are effective the date indicated)
This decision is effective June 26, 2006.
Announcement from the State of Oregon
The State of Oregon, the Oregon Association of Mortgage Professionals and the Mortgage Lending Education Board held an emergency meeting this month to discuss continuing education testing requirements.
The purpose of this meeting was to bring clarification about the requirements established for loan originators. They will no longer be required to take proctored tests for continuing education courses.
**This does not impact entry-level education requirements. Originators, both in and out of state, are still required to take a proctored state exam as part of the entry level requirement.
FAQ’s
Q - Will I still be required to take an exam as part of my entry-level education requirement?
A – Yes, this decision does not impact any of the requirements related to entry-level education.
Q – I already took my proctored exam after an on-line education course. Since the rules have changed am I eligible for a refund?
A – No
Q - If I take the same course more than once, can it count toward my 20 hours of CE?
A - No. Once a course has been taken in a 24 month cycle for CE hours it can not be taken for additional credit. However if you choose to take the course again in an additional 24 month period it would count toward your requirements.
Q - What are the consequences to Brokers if they have originators working for them who do not have the required education completed?
A - There is a potential fine of $5000 per loan, to the licensee, if the loan originators’ education has lapsed or expired.
Q - I have been an originator in another State for 7 years. As an entry-level originator in Oregon, do I really have to take a 20 hour course prior to taking my State test?
A - The 20 hour course is required prior to taking the State entry-level exam.
Q – May course providers of MLEB-approved courses still require examinations and minimum passing scores to receive certificates of completion?
A – Yes. The change simply means that proctored examinations, though still required for entry-level courses, are no longer required for continuing education.
December 9th, 2006 - Pursuant to changes in Oregon state law, the Mortgage Lending Education Board (MLEB) has made several policy changes that affect the courses you are currently approved to provide to Loan Officers in the State of Oregon. All changes go into effect on or before January 1, 2006.
First, it has been brought to our attention that a few course providers of 20-hour online courses have been teaching these courses as a blend of online and live instruction. Even if the course is approved for live instruction, this is NOT acceptable. Course providers may teach ONLY online or ONLY live instruction unless the course is resubmitted for approval in the blended instruction format.
In addition, the current 20 hour online courses due for renewal next year will not be approved as a home study course. It must be completed online or as a live course only. Home Study courses will no longer be acceptable in the state of Oregon.
Second, as of January 1, 2006, all testing for non live courses are required to have a proctored test, which will be administered by Comp USA. For more information regarding the new law visit: http://www.leg.state.or.us/05orlaws/sess0001.dir/0097ses.pdf
This change includes both entry level and continuing education. The current 20 hour courses have a question testing pool already in place. All new online courses submitted for approval will be required to pay a $400 fee for the initial set up of a proctored test. This fee is to be submitted with any new courses or at the time of renewal for current courses. Exam questions must accompany the course materials at the time of approval request.
Third, the currently approved continuing education 20 hour on line course repeats the entry level course content. The course will not be acceptable as a continuing education course when it expires in 2006. When renewing your online continuing education courses the material must be changed substantially so that it offers different content than the entry level course. The current approved entry level courses are acceptable and can be renewed as previously approved.
Fourth, all course providers of both live and online instruction are required to submit an audit fee of $20.00 per course hour no later than February 15, 2006. You will receive an invoice at the beginning of January. If this fee is not received by February 15, 2006, your course will be suspended. In addition, starting in 2006, you must provide notice to MLEB of all courses that will be taught 30 days in advance of the date being taught. Please provide the course name, date, place and instructor. Please inform MLEB in writing if you will not be teaching your courses in 2006.
Fifth, the current audit policy in effect by MLEB is as follows: The course owner/affiliated entity shall be required to permit the MLEB, or the MLEB's representative, to audit the course and course material, at no cost to the MLEB or the MLEB's representative. The audit shall measure and evaluate compliance with all of the MLEB criteria. The course owner/affiliated entity shall permit the MLEB or the MLEB's representative to review records appropriate to selected course offerings. The Course owner/affiliated entity shall be responsible for payment of audits.
Sixth, the current break schedule in place requires a 10 minute break every hour. This policy will be changed as of January 1, 2006. The new policy is as follows. The course instructor is allowed to set a break schedule for each of the courses they provide. The maximum allowed time for breaks are no more than 10 minutes per course hour. A lunch break of no less than 30 minutes is required after 4 hours of course time.
Seventh, it is the course instructor/ provider responsibility to inform MLEB in writing of each course taught and of each loan officer that received a certificate within 10 business days of the course being completed. For your convenience you may use the attached attendance sheet and forward them to the MLEB. All Certificates must be typed and cannot be handwritten, except for the course instructor’s signature. As of January 1, 2006 all certificates must also list the Loan Originators unique identifier. If the student does not have their unique identifier, direct them to www.oregonmleb.com for more information.
Lastly, when MLEB approves a course it simultaneously approves the course presenter/instructor. This person is considered to be an integral and significant part of the certified course. Therefore, any change in presenter/instructor will require immediate notification to MLEB and be considered a major modification in the original approval. A review fee of $100 and 45 days notice is required for every change or addition in presenter/instructor.
If you have any further questions please feel free to contact us:
MLEB Board
Email address: webmaster@oregonmleb.com
February 13, 2003 - For all Course Providers: Note the addition of Continuing Education classes approved and a change to the ClassRoom Hours that includes flexibility to extend the class longer than approved Credit Hours if your material/coverage of the subject warrants it.
July 11, 2002 - Emergency requests to add an instructor or curriculum is discouraged outside regularly scheduled meetings.
July 11, 2002 - To clarify any confusion regarding the requirements concerning course presentation and required timelines, please note the following:
- In the event a course instructor has time remaining after all topics have been presented, the instructor must engage the students with either additional instruction pertaining to the subject matter approved, appropriate case studies, a controlled question and answer session or any combination of the three.
- Course approval regulations require that "each course shall be assigned a maximum number of classroom hours of instruction" (including examination time if application). Thus, if a course has been approved for 3 credit hours, three hours of instruction should be provided which allows for appropriate breaks. This will assure that courses are meeting required guidelines and students are receiving appropriate instruction for which they are receiving credit hours.
June 6, 2002 – All course providers are to email any advertisement or promotional material of classes, whether by email, website, mail, fax or any other method to questions@oregonmleb.com
June 6, 2002 – All course providers are to include the OregonMLEB approved course number assigned on any advertisement or promotional material of classes on all e-mail, website, mail, fax or any other method.
