MORTGAGE LICENSING REQUIREMENTS IN WEST VIRGINIA:
Loan originators employed by or working on behalf of a mortgage broker must be licensed.

Loan processors employed by a mortgage broker, who for a fee or commission or other consideration, negotiate or arrange, or originates, processes or assigns a mortgage loan between a lender and a borrower must obtain a license prior to such activity.

Individuals performing strictly clerical duties are not required to obtain the loan originator license.

INITIAL TRAINING:
None required, however, for mortgage brokers a resume must show mortgage experience.

REQUIRED CONTINUING EDUCATION IN WEST VIRGINIA:
Loan originators are required to complete 7 hours of continuing education annually. West Virginia does not allow any carry over hours.

RENEWAL:
In the case of Loan Originators, the first licenses will expire June 30, 2005 and every five years thereafter.

For Mortgage Brokers the renewal date is October 1 of each calendar year.

EFFECTIVE OCTOBER 1, 2006, ALL CONTINUING EDUCATION MUST BE DONE THROUGH LIVE CLASSES ONLY.
The following classes are approved for CE by the state of West Virginia:

Understanding FHA Loans - 7houers
Fundamentals of Loan Processing – 7 hours
Principles of Mortgage Finance - 7 hours
Understanding VA Loans – 7 hours
Qualifying the Self-Employed Borrower – 7 hours
Guidelines for Taking a Detailed Loan Application – 7 hours
Federal Regulations and Compliance – 7 hours
Training for FHA Direct Endorsement Underwriting – 7 hours

FOR MORE INFORMATION:
Call (800) 229-8556 with any questions regarding Continuing Education.
Email: customerservice@capinst.com

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