R162. Commerce, Real Estate.
R162-208. Continuing Education.
Required Hours of Continuing
Education. ]As authorized by
Section 61-2c-104(7)(d)(ii)(A), the Utah Residential Mortgage Regulatory
Commission has set the number of hours of continuing education required for
renewal as follows:
208.1.1 Individuals with renewal dates on or before
December 31, 2005 - zero credit hours.
208.1.2 Individuals with renewal dates after
December 31, 2005 - fourteen credit hours.
Proof of continuing education
hours. ]Proof of continuing
education hours must be in the form required by the [ d]ivision.
Credit Hours. ]For the purpose of this rule, a credit hour is defined as 50
minutes of education within a 60 minute time period. A 10 minute break may be taken for every 50 minutes of
education. Education credit will be
limited to a maximum of 8 credit hours per day.
Subject Matter. ]The following subject matter is
acceptable for continuing education credit:
208.4.1 Each time the licensee renews, the required
14 credit hours must include a minimum of 2 credit hours of ethics and a
minimum of 3 credit hours related to compliance with Federal and State laws
governing mortgage lending.
208.4.2 The balance of the credit hours required for
renewal may consist of any courses related to residential mortgage principles
and practices that, in the opinion of the commission, would enhance the
competency and professionalism of licensees.
208.4.3 The [
d]ivision will maintain
and will make available to any person upon request a list of course topics that
have been approved by the commission as acceptable for
continuing education purposes. The [ d]ivision
shall also post the list of course topics on its website.
Unacceptable Subject Matter. ]The following topics are not acceptable
for continuing education purposes:
208.5.1 Offerings in mechanical office and business
skills such as typing, speed reading, memory improvement, report writing,
advertising or similar offerings;
208.5.2 Offerings concerning physical well-being or
personal development, such as personal motivation, stress management, time
management, dress-for-success, or similar
208.5.3 Meetings held in conjunction with the
general business of the licensee and the entity for which the licensee conducts
residential mortgage business, such as sales meetings, or in-house staff
meetings unless the in-house staff meetings consist of training on the subjects
set forth in Section 61-2c-104(7)(d)(i).
Education Committee. ]The commission will appoint an
Education Committee, the purpose of which will be to assist the commission in approving continuing education course topics. The Education Committee will make
recommendations to the commission about whether any
particular course topic is sufficiently related to residential mortgage
principles and practices, and whether the topic would tend to enhance the
competency and professionalism of licensees, to justify placing the topic on
the list of course topics that are acceptable for continuing education
purposes. The commission
may accept or reject the Committee's recommendation on any course topic.
208.6.1 Any licensee or any course provider may
request that the Education Committee recommend to the commission
that a specific topic be approved as an acceptable topic for continuing
education purposes. The request must be
made in writing, addressed to the Education Committee in care of the [
and must state specific reasons why the requester believes the topic qualifies
for continuing education purposes.
208.6.2 If the Education Committee turns down a
request to approve a certain topic for continuing education purposes, the party
who requested that the topic be approved may petition the commission
on an individual basis for evaluation and approval of the topic as being
acceptable for continuing education purposes.
The Petition must be made in writing, addressed to the commission in care of the [
d]ivision, and must state
specific reasons why the requester believes that the topic qualifies for
continuing education purposes. If the commission find[ s] that the topic is acceptable for
continuing education purposes, the [ commission shall direct the d]ivision
[ to] add the topic to the list maintained by the [ d]ivision
of approved continuing education topics.
208.7 The course provider shall issue a course
completion certificate in the form required by the [
all licensees who successfully complete a course in a topic that is approved
for continuing education purposes. The
course completion certificate shall indicate the number of credit hours
successfully completed by the student and must be signed by the instructor who taught the course.
On line-courses. ] may be accepted
by the [ d]ivision for continuing education purposes if they
comply with all of the other provisions of this rule and if: a) the student who successfully completes a
course is able to print from the course provider's web site a continuing
education certificate to submit to the [ d]ivision that meets the
requirements of Section 208.7 above; and b) the course provider has methods in
place to determine whether a student has successfully completed a course and to
insure that only those students who have successfully completed a course are
able to print a course completion certificate.
KEY: residential mortgage loan origination
February 3, ]2004