R162-2c-501a. Optional Experience Equivalency Calculation

Latest version.

  (1) Thirty months of full-time experience in the following activities shall be considered equivalent to one year of experience as a first-lien residential mortgage loan originator:

  (a) loan underwriter;

  (b) mortgage loan manager;

  (c) loan processor;

  (d) certified mortgage prelicensing instructor;

  (e) second-lien residential loan originator; and

  (f) a licensed mortgage loan originator working as a junior loan officer or assistant loan officer.

  (2) An applicant who wishes to receive experience credit under this Subsection R162-2c-501a, but who cannot demonstrate experience equivalent to a full year of first-lien residential mortgage loan origination shall:

  (a) be awarded experience credit as deemed appropriate by the division; and

  (b) complete the experience requirement through additional experience as a first-lien residential mortgage loan originator, as determined by the division.

                    
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