Utah Admin. Code R162-2c-501a - Optional Experience Equivalency Calculation
(1) Thirty months of full-time experience in
the following activities shall be considered equivalent to one year of
experience as a first-lien residential mortgage loan originator:
(a) loan underwriter;
(b) mortgage loan manager;
(c) loan processor;
(d) certified mortgage prelicensing
instructor;
(e) second-lien
residential loan originator; and
(f) a licensed mortgage loan originator
working as a junior loan officer or assistant loan officer.
(2) An applicant who wishes to
receive experience credit under this Subsection R162-2c-501a, but who cannot
demonstrate experience equivalent to a full year of first-lien residential
mortgage loan origination shall:
(a) be
awarded experience credit as deemed appropriate by the division; and
(b) complete the experience requirement
through additional experience as a first-lien residential mortgage loan
originator, as determined by the division.
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.