How long must licensees maintain copies of documents related to residential mortgage loans under the Residential mortgage Licensing Act Nebraska?

The mortgage industry has very specific regulations around the recordkeeping requirements for advertising materials, including brochures, business cards, and even social media. That can be a daunting task for any mortgage lender when loan officers are their own marketing departments on social media, but ActiveComply automates this process for lender partners.

See the state-by-state requirements below:

What are the continuing education requirements for mortgage bankers in Nebraska?

Nebraska Continuing Education Requirements: State-licensed MLOs are required to complete 8 hours of NMLS-approved mortgage education annually beginning the year they are licensed (unless PE was completed in the same year). This includes: 3 hours of federal law. 2 hours of ethics.

How long after an MLO fails to maintain a valid license must they retake the test?

(3) If a formerly state-licensed loan originator fails to maintain a valid license for 5 years or longer, not taking into account any time during which such individual is a registered loan originator, the individual must retake the test and achieve a test score of not less than 75 percent correct answers.

What is the minimum recordkeeping requirement for mortgage licensees in Pennsylvania?

'' The Department of Banking has determined that the period for preserving records by licensees under Section 6135(a)(2) of the Mortgage Licensing Act is a minimum of four (4) years.

What license is required for any company or person who makes or services residential mortgage loans in California?

Any person who provides services as a mortgage loan originator (MLO) in California under the California Finance Law (CFL) or the California Residential Mortgage Lending Act (CRMLA) must apply for and receive a mortgage loan originator license.