West Virginia Amends Safe Mortgage Licensing Act

West Virginia recently amended its continuing educational requirements under the West Virginia Safe Mortgage Licensing Act (SAFE Act).  The amendments will increase the application fee to fully cover the agency’s administration costs, and increase the number of hours of education required for licensure and to meet continuing education requirements.  The amendments take effect on July 1, 2018.

Once effective, the application fee for licensure under the West Virginia SAFE Act will increase from $50 to $200.  The number of hours of prelicensing education required will increase from 22 to 24 hours of education.  More specifically, the hours of training related to West Virginia mortgage and consumer laws or issues will increase from 2 to 4 hours.  The number of hours of continuing education required will increase from 8 to 9 hours of education.  More specifically, the hours of training on West Virginia law or regulations will increase from 1 to 2 hours of education.

A copy of the amendments can be viewed here.