TrainingPro, a provider of mortgage education, has received approval from The Massachusetts Division of Banks to provide pre-licensing and continuing education to mortgage professionals in the state. These education requirements are a part of recent state legislation addressing new and changing licensing regulations for the industry.
The first national provider to be approved in the state, TrainingPro says it is offering two courses to meet the state's new mortgage training requirements. ‘Mortgage Basics: Increasing Knowledge, Creating Opportunities’ satisfies the pre-licensing education requirement consisting of 24 hours of live instruction.
The course covers several topics, including federal and state laws, ethics, loan concepts and lending calculations. ‘Building Mortgage Credibility for Lasting Success’ satisfies the eight-hour continuing education requirement that is also now in effect and must be completed by most mortgage professionals annually. The eight-hour training can be completed live, online or in home-study format.
According to Regulatory Bulletin 5.1-105, ‘these educational requirements will familiarize potential applicants with the necessary lending concepts, processes, applicable laws and regulations related to the mortgage origination profession.’ Exemptions do exist, and students should visit the state's Web site at www.mass.gov for more information. Massachusetts education requirements apply to mortgage loan originators.
Source: TrainingPro