Wyoming § 40-14-645 Testing of mortgage loan originators

Wyoming Statutes

§ 40-14-645 — Testing of mortgage loan originators

Wyoming § 40-14-645

Title 40Trade and Commerce

Ch. 14WYOMING UNIFORM CONSUMER CREDIT CODE

Art. 6ADMINISTRATION

This text of Wyoming § 40-14-645 (Testing of mortgage loan originators) is published on Counsel Stack Legal Research, covering Wyoming primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Wyo. Stat. Ann. § 40-14-645 (2026).

Text

(a)In order to meet the written test requirement under W.S. 40-14-643(a)(v), an individual shall pass, in accordance with the standards established under this section, a qualified written test developed by the registry and administered by a test provider approved by the registry.

(b)A written test shall not be treated as a qualified written test for purposes of subsection (a) of this section unless the test adequately measures the applicant's knowledge and comprehension in appropriate subject areas, including:

(i)Ethics;

(ii)Federal law and regulation pertaining to mortgage origination;

(iii)Wyoming law and regulation pertaining to mortgage origination; and

(iv)Federal and Wyoming law and regulation, including instruction on fraud, consumer protection, the nontraditional mortgage mar

Free access — add to your briefcase to read the full text and ask questions with AI

(a) In order to meet the written test requirement under
W.S. 40-14-643(a)(v), an individual shall pass, in accordance
with the standards established under this section, a qualified
written test developed by the registry and administered by a
test provider approved by the registry.
(b) A written test shall not be treated as a qualified
written test for purposes of subsection (a) of this section
unless the test adequately measures the applicant's knowledge
and comprehension in appropriate subject areas, including:
(i) Ethics;
(ii) Federal law and regulation pertaining to
mortgage origination;
(iii) Wyoming law and regulation pertaining to
mortgage origination; and
(iv) Federal and Wyoming law and regulation,
including instruction on fraud, consumer protection, the
nontraditional mortgage marketplace and fair lending issues.
(c) Nothing in this section shall prohibit a test provider
from providing a test at the location of the employer of the
applicant, the location of any subsidiary or affiliate of the
employer of the applicant or the location of any entity with
which the applicant holds an exclusive arrangement to conduct
the business of a mortgage loan originator.
(d) An individual shall not be considered to have passed a
qualified written test unless the individual achieves a test
score of not less than seventy-five percent (75%) correct
answers to test questions.
(e) An individual may retake a test three (3) times with
each test taking occurring at least thirty (30) days after the
preceding test.
(f) After failing three (3) tests, an individual shall
wait at least six (6) months before taking the test again.
(g) A licensed mortgage loan originator who fails to
maintain a valid license for at least five (5) years shall
retake the written test. Any time the individual spends working
as a registered mortgage loan originator shall not be counted
against this five (5) year period.