A state-licensed MLO wants to renew her license for the upcoming year. Under the SAFE Act, what is the minimum number of continuing education hours she must complete annually?

Correct answer: 8 hours

The SAFE Act requires state-licensed MLOs to complete a minimum of 8 hours of continuing education (CE) each year to renew their license. This includes 3 hours of federal law, 2 hours of ethics, 2 hours of nontraditional mortgage products, and 1 hour of electives (states may require additional hours). 12 hours is not the federal minimum for CE. 20 hours is the pre-licensure education requirement, not the annual CE requirement. 6 hours understates the requirement.