| (a) Pre-Licensing Education. As provided by Finance
Code Chapter 180, an individual applying for licensure must complete
the pre-licensing education and coursework prescribed by the federal
S.A.F.E. Mortgage Licensing Act (federal SAFE Act) and approved by
NMLS. Such education and coursework must include three hours of instruction
relating to the applicable laws, rules and practice considerations
governing residential mortgage loan origination in Texas.
(b) Lapsing of Pre-Licensing Education. An individual
applying for licensure other than a current license holder seeking
renewal or the holder of a recently-expired license seeking reinstatement
as provided by Tex. Fin. Code §157.016 (an individual seeking
an original license) must have completed the required pre-licensing
education and coursework described by subsection (a) within the three
years preceding the date of application; otherwise, such individual
must retake the pre-licensing education and coursework approved and
offered at the time of the application.
(c) Recognition of Pre-Licensing Education Taken in
Another Jurisdiction. As provided by Tex. Fin. Code §180.056,
the Department will recognize pre-licensing education coursework taken
in another jurisdiction subject to the requirements of the federal
SAFE Act; provided, it is approved by NMLS for that purpose and otherwise
meets the applicable requirements of the federal SAFE Act, and Finance
Code Chapter 180. However, the Department will not recognize those
hours of pre-licensing education taken in another jurisdiction the
content of which was dedicated to education specific to that jurisdiction
and that comprised the twelve-hour undefined electives portion of
such pre-licensing education program and coursework. An individual
may take coursework that is of limited duration and limited in scope
to the applicable laws, rules and practice considerations governing
residential mortgage loan origination in Texas in order to supplement
and remedy a shortfall in hours derived from non-recognition of pre-licensing
education taken in another jurisdiction as provided by this section.
(d) Continuing Education. As provided by Tex. Fin.
Code §180.060 and §81.106 of this title (relating to Renewals),
a licensee must complete, on an annual basis, continuing education
and coursework approved by NMLS in order to renew the license.
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