Each calendar year a dedicated broker for a licensed mortgage Broker needs to take a continuing course and the course he takes should be NMLS approved in order for him to keep up with the increasing competition out there and continue working.
Once the course has been completed, the concerned institute needs to report it within seven days to the NMLS. This way the candidate can be considered eligible for viewing by the MLO and the sponsors and regulators. Note that there is a significance difference between the pre licensing education and continuing education courses. The Pre Licensing course is for candidates who are applying for a license while the CE is for those who are renewing their license. You should also be aware of the fact that different course providers charge a different fee. Therefore the course price and the institute should be chosen accordingly.
Ontario mortgage agent licensing course vary with every passing year. Some important tips for those who are going to take the course are:
- Only select NMLS approved Continuing Education courses from the NMLS Master Course Catalog. A link to the catalog is below.
- Be sure to take Continuing Education (CE), not Pre-Licensing Education (PE).
- Do not take the same course(s) two years in a row. This does not mean you cannot take a course(s) from the same provider. It means you cannot take the exact course two years in a row.
- Finish your Continuing Education early: Continuing Education providers have up to 7 days to report completed courses. Until the Education is posted to your record, you cannot renew your license.
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