How many hours of Oregon State specific continuing education are required each year?

MLO Continuing Education Requirements for Oregon

No matter which state issued your MLO license, you're subject to specific mortgage education requirements because of the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act). This legislation requires that all state-licensed MLOs take 7 hours of approved NMLS CE, in addition to Oregon specific course requirements.

You can't take just any NMLS course to reach those 10 hours, either. Your Oregon NMLS training needs to cover specific topics and you need to take your mortgage education with an NMLS-approved provider. 

For Annual CE, Oregon NMLS licensed MLOs are required to complete:

• 3 hours on relevant federal regulations and law
• 2 hours of ethics training (including training on consumer protection, fair lending issues, and fraud)
• 2 hours on lending standards for nontraditional mortgage products
• 1 hour elective on mortgage origination
• 2 hour of Oregon law-specific education

While the NMLS oversees the general CE requirements and helps with recordkeeping of your completed hours, it's important to know any Oregon specific requirements that may apply to you. 

How Do I Know If I'm Required To Take My CE This Year Or Not?

Generally, if you obtained your license after 2009 but before this year, the above NMLS CE requirements apply to you. If you obtained your license this year (and assuming you completed the required pre-license education), you don't need to complete any additional mortgage education this year. 

Successive Year Rule

Per the SAFE Act, you cannot take the same NMLS course for two years in a row. To avoid this possible overlap, AYPORealEstate creates brand new NMLS-approved CE courses every single year to comply with this rule.

NMLS Late CE Courses Making Up Your Continuing Education

Late CE is required during the annual reinstatement period:

• If you missed the deadline to renew your MLO license this year, and you need to make up the 8 hours of approved Late CE 
• If you have an MLO license that's been expired for a while, and you need to meet the NMLS continuing education requirements for the last year during which your license was active

To summarize, if you miss the deadline or you are returning to the industry, you will need 7 hours of NMLS course work, 1-hour elective, plus 2 hours of Oregon Law, all as 'Late CE' -  aside from the current year CE requirement -  to renew your MLO license. 

These hours need to come from a specifically designated NMLS 'Late CE' course. The NMLS maintains a catalog of approved courses so you can find the Late CE class you need. 

AYPORealEstate is an approved Late CE provider and can help you get your Late Continuing Education done, on time.

OR Mortgage Loan Originator CE Deadline

The deadline to complete CE is December 31. 

Take note: MLOs in Oregon are prevented from applying to renew their license if they have not completed CE. Since it may take as long as seven (7) days for a course provider to report a course completion into NMLS, MLOs are strongly encouraged not to wait until the last minute to try to complete CE or they may be prevented from submitting for renewal on time.

• At-Risk-to-Miss Renewal Deadline: If you complete your class by December 18th or later, you are at risk to miss your OR Mortgage CE deadline.
• Guaranteed to Miss Renewal Deadline: If you complete your class by December 31st or later you are guaranteed to miss your OR Mortgage CE deadline. 

Stay on top of the NMLS continuing education requirements so CE hours never stand between you & your renewal. Contact us or enroll today to beat the deadline!

Resident Requirements

In Oregon, the completion of state-mandated continuing education (CE) requirements is mandatory for all resident producers with the following lines of authority:

• Life 
• Health
• Property
• Casualty
• Personal
• Surplus
• Variable lines

Producers are required to complete 24 credit hours of CE every two-year license renewal cycle. At least three of the 24 CE credit hours must be in professional ethics courses. A further three CE credit hours out of the 24 required hours must cover Oregon statutes and administrative rules, including recent changes. No more than four credit hours will be granted for approved agency management courses. 

In a single day, a producer may earn no more than eight credit hours of CE.

Rules for Non-Residents

A non-resident producer who has satisfied the CE requirements of their home state is exempt from Oregon CE requirements. This is conditional on the producer's home state CE requirements being substantially similar to those of Oregon.

Carryover of Excess CE

Oregon does not allow carryover of excess CE from one license renewal period to the next.

Insurance License Term Renewal Requirements

The licensing period for Oregon producers is two years. A license expires on the last day of the producer's birth month. The renewal year is based on the original licensure year, meaning producers originally licensed in an even-numbered year will renew on an even-numbered year, and producers originally licensed in an odd-numbered year will renew on an odd-numbered year. 

Renewal notices will be e-mailed to the producer's email address on file with the Oregon Division of Financial Regulation. Notices will be e-mailed approximately 90 days prior to the license expiration date. Renewals must be completed electronically through the National Insurance Producer Registry (NIRP).

An applicant from a non-reciprocal state (California, Hawaii, or New York) will not have their non-resident license renewed prior to confirmation that the applicant has passed the Oregon exam.

Rules for Taking the Exam

Self-study CE courses in Oregon require producers to pass a final exam with a result of 70 percent or higher to receive credit. The exam must be closed book and does not require a proctor so long as the course is computerized and includes safeguards ensuring the producer cannot review study material during the exam or change answers following the exam.

Rules for Repeating a Course

Within a single license renewal period, no CE course may be repeated for credit. However, a course from a previous license renewal cycle may be repeated during a subsequent renewal cycle.

Credit for Instructors

An instructor of an approved CE course is eligible to receive the same credit hours for the course they are teaching as the students attending it. During each two-year license renewal period, an instructor may only receive credit hours once from a given course.

Reporting Rules

Following a producer's successful completion of a CE course for credit hours, the provider shall electronically submit completion information for the course to the Oregon Insurance Division. Completion information must be submitted within 15 days after the date of completion. The provider may also issue a certificate of completion to the producer as well as submit the certificate electronically to the Oregon Insurance Division in accordance with directions provided on the Insurance Division website of the Department of Consumer and Business Services.

Insurance CE Requirement Exemptions

Non-resident producers who have met CE requirements in their home state are exempt from Oregon's CE requirements. This is conditional on the fact that the home state requirements are substantially similar to the requirements of Oregon. Other exemptions may be offered for those in active-duty military roles or those with long-term illnesses. Contact the Oregon Insurance Division directly to determine eligibility.

Oregon Annuity Requirements

Annuity producers in the state of Oregon are subject to special requirements. Any producer who wishes to sell annuity products must complete a one-time, four-hour CE course through a CE provider registered with the Oregon Division of Financial Regulation. Completion of the required annuity suitability training counts towards a producer's total CE credit hour requirements. This is conditional on the training being an Oregon-approved course, or if from another state, meeting the requirements of the state of Oregon.

An annuity suitability training course must cover information on the following:

• The types of annuities and various classifications of annuities
• Identification of the parties to an annuity
• How fixed, variable, and indexed annuity contract provisions affect consumers
• The application of income taxation of qualified and nonqualified annuities
• The primary uses of annuities
• Appropriate sales practices, replacement, and disclosure requirements

It is the responsibility of the insurer to verify that a producer has completed the required training prior to permitting the producer to sell the insurer's annuity products.

Oregon Long-Term Care Insurance Training Requirements

Long-term care insurance producers are subject to special requirements in the state of Oregon. Prior to engaging in the sale of long-term care insurance products, a producer must be licensed for life and health lines of authority. A producer is also required to complete a one-time, eight-hour training course on the topic of long-term care insurance. They must also complete four hours of ongoing training in long-term care insurance during each subsequent two-year license renewal period.

All courses must consist of topics related to long-term care insurance, long-term care services, and qualified state long-term care insurance partnership programs if applicable. Specific topics may include:

• State and federal rules and requirements
• The relationship between qualified state long-term care insurance partnership programs and other public and private coverage of long-term care services, including Medicaid
• Available long-term care services and providers
• Changes or improvements in long-term care insurance
• The effect of inflation on benefits and the importance of inflation protection
• Consumer suitability standards and guidelines

Courses are not permitted to include training on insurer or company products. Additionally, courses are not permitted to include training in any sales/marketing information, materials, or other training beyond that required by state or federal law.

Training required for long-term care insurance counts towards a producer's total CE credit hour requirements so long as the courses are Oregon-approved. If the training is received in another state, the training must meet the requirements of the state of Oregon.

It is the responsibility of the insurer to verify that a producer has completed the required training prior to permitting the producer to sell the insurer's long-term care insurance products.

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