As of June 30, 2011, new or existing MLOs have completed the following number of hours of either pre-licensure (PE) or continuing education (CE):
Number of Hours PE Completed: Over 340,000 hours of PE have been completed since January 1, 2011, equating to approximately 17,015 MLOs. The greatest number of hours was completed during the first quarter. A significant number of hours were also completed in mid-May and mid-June.
Number of Hours of CE Completed: Approximately 90,000 hours of CE have been completed since January 1, 2011, equating to approximately 11,340 MLOs. 85,000 MLOs were licensed at the end of 2010 so this is the number of MLOs who are expected to complete CE in 2011. Accordingly, 13% of the total expected number of MLOs has completed CE as of June 30, 2011.
Late CE Courses Completed: Approximately 6,275 hours of Late CE has been reported since January 1, 2011. This equates to approximately 785 MLOs who completed a Late CE course to make-up their CE requirement for 2010. The greatest numbers of Late CE courses were completed in mid-January, early February, and early March.
Questions regarding of the above information should be directed to Rich Madison, Sr. Director Mortgage Education Programs at firstname.lastname@example.org.