What is the minimum number of hours required for prelicensing education for loan originators?

The minimum number of hours required for prelicensing education for loan originators is 20 hours. This requirement is set forth by the Secure and Fair Enforcement for Mortgage Licensing Act, commonly known as the SAFE Act. These hours must cover specific topics essential for loan originators, including federal law, ethics, and mortgage origination.

The 20-hour requirement is designed to ensure that prospective loan originators receive adequate training to understand the intricacies of the mortgage lending process, consumer protection laws, and best practices in the industry. This foundational education helps equip them with the knowledge necessary to serve borrowers effectively and responsibly in a regulated lending environment.

While other options suggest longer hours, the specifically mandated amount to qualify for licensure is 20, making it critical for aspiring loan originators to ensure they meet this benchmark before attempting to obtain their licenses.