West Virginia Amends SAFE Mortgage Licensing Act

West Virginia passed a bill amending the SAFE Mortgage Licensing Act. Under the bill, the license application fee increased from $50 to $200. The bill also increased the required amount of pre-licensing education from 22 hours to 24 hours, and the required amount of continuing education from 8 hours to 9 hours. In addition, the bill doubled the amount of required pre-licensing education and continuing education related to West Virginia mortgage and consumer laws to 4 hours and 2 hours, respectively. The bill becomes effective May 31, 2018.

See West Virginia Legislature website for the full text of the Statutes:
http://www.wvlegislature.gov/Bill_Text_HTML/2018_SESSIONS/RS/bills/hb4285%20ENR.pdf

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