§ 599-f. Pre-licensing educational requirements.
1.Minimum\neducational requirements. In order to meet the pre-licensing education\nrequirement referred to in this article, a person shall complete at\nleast twenty hours of education approved in accordance with subdivision\ntwo of this section, which shall include at least the following minimum\nrequirements:\n (a) Three hours of federal law and regulations;\n (b) Three hours of ethics, which shall include instruction on fraud,\nconsumer protection, and fair lending issues;\n (c) Two hours of training related to lending standards for the\nnontraditional mortgage product marketplace; and\n (d) Three hours of training on applicable New York State law and\nregulations as may be approved by the superintendent.\n 2. Approved education co
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§ 599-f. Pre-licensing educational requirements. 1. Minimum\neducational requirements. In order to meet the pre-licensing education\nrequirement referred to in this article, a person shall complete at\nleast twenty hours of education approved in accordance with subdivision\ntwo of this section, which shall include at least the following minimum\nrequirements:\n (a) Three hours of federal law and regulations;\n (b) Three hours of ethics, which shall include instruction on fraud,\nconsumer protection, and fair lending issues;\n (c) Two hours of training related to lending standards for the\nnontraditional mortgage product marketplace; and\n (d) Three hours of training on applicable New York State law and\nregulations as may be approved by the superintendent.\n 2. Approved education courses. For purposes of subdivision one of this\nsection, pre-licensing education courses shall be such courses,\nincluding the course provider thereof, as shall have been reviewed, and\napproved, by the NMLSR based upon reasonable standards. An hour of\neducation for purposes of this article shall be as defined by the NMLSR.\n 3. Employer and affiliate education courses. Nothing in this section\nshall preclude any pre-licensing education course, as approved by the\nNMLSR, that is provided by the employer of the applicant or an entity\nthat is affiliated with the applicant by an agency contract, or any\nsubsidiary or affiliate of such employer or entity.\n 4. Venue of education. Pre-licensing education may be offered either\nin a classroom, online or by any other means approved by the NMLSR.\n 5. Reciprocity of education courses. Pre-licensing education courses\napproved by the NMLSR pursuant to paragraphs (a), (b) and (c) of\nsubdivision one of this section for any state shall be accepted as\ncredit towards completion of pre-licensing education requirements in\nthis state.\n 6. Re-licensing educational requirements. An individual licensed under\nthis article subsequent to its effective date applying to be licensed\nagain must prove that he or she has completed all the continuing\neducation requirements for the year in which the license was last held.\n