In a July 23, 2014 proposal posted on the NMLS Resource Center website, the State Regulatory Registry LLC, a limited liability company that owns and operates the Nationwide Mortgage Licensing System and Registry (NMLS), proposes to create the following three year pre-licensure education expiration policy: “An individual who: (1) fails to acquire a valid license or federal registration within three years from the date of initial completion of any approved pre-licensure education (PE) course; or (2) has obtained a license or federal registration but subsequently did not maintain an active license or federal registration for at least three years, must complete 20 hours of PE in order to be eligible for state licensure.”

Complete Memorandum