Uniform State Content (SAFE Act)Question 388 of 400
A state-licensed MLO completes their 8 hours of continuing education on December 30 but does not submit the renewal request until January 15 of the next year. What is the most likely consequence?
a.The license renews automatically because the CE was completed
b.The MLO receives a bonus year of licensure
c.Nothing changes; the renewal deadline is flexible
d.The license lapses because the renewal was not submitted by December 31, and the MLO may not originate loans until it is reinstated
Explanation
Completing CE is necessary but not sufficient; the MLO must also submit the renewal request and fees within the November 1 to December 31 window. Missing the December 31 deadline causes the license to lapse, and the MLO cannot legally originate loans until the license is reinstated or renewed under the applicable late process.
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