Mark Fagergren's presentation

October 20, 2009

Mark Fagergren

Licensing/Education Director

Instructor Development Workshop

www.realestate.utah.gov

10-12 Schools Expired!!

Pre-licensing Education ChangesMortgage

Until 12/31/2009 On 01/01/2010

Mortgage Officer 20 Hours – UDRE approved

20 Hours – NMLS approved

40 Hours – UDRE approved

Lending Manager (PLM and ALM)

40 Hours – UDRE approved

40 Hours – UDRE approved

Pre-licensing Education ChangesReal Estate

Until 12/31/2009 On 01/01/2010

Sales Agent 90 Hours

(if enrolled in 2009 licensee has until 3/31/2010 to complete licensing)

120 Hours

Real Estate

Education Waivers

For an education waiver to be valid what conditions must be met?

a) The student has enrolled for 12 hours of Utah law

b) The student has a waiver signed and stamped by the DRE

c) The licensing process must be completed prior to the expiration date of the waiver

d) b and c

e) all of the above

Real Estate

Education Waivers

Important. For an education waiver to be valid:

a) The waiver must be obtained prior to enrolling in a course.

b) The waiver must be signed and date stamped by the DRE.

c) Although education is valid for one year, an education waiver is only valid for 6 months and so the licensing process must occur prior to the expiration date on the waiver.

Real Estate Core Topics

Old Core TopicsState Approved Forms/Contracts

Ethics

Agency

Prevention of Real Estate and Mortgage Fraud

Federal and State Real Estate Laws

Brokers’ Trust Accounts

Note: 6 hours of core required

New Core TopicsState Approved Forms/Contracts

Other Industry Forms $ Contracts

Ethics

Agency

Prevention of Real Estate and Mortgage Fraud

Federal and State Real Estate Laws

Administrative Rules

Brokers’ Trust Accounts

Short Sales or Bank Owned

Property Sales

Property Management

Environmental Hazards

Note: 9 hours of core required

Real Estate Core Topics

If an education provider wants a currently approved CE course to be reevaluated under the expanded list of core subjects what is NOT the correct procedure?

a) Submit a new application (including fee) requesting that the current CE course be considered for Core course approval. If approved by the Division, a new CE course certificate and number will be provided to the provider for distribution to students who attend the course AFTER receiving approval as a core course.

b) At the time of CE course renewal, submit the course for consideration as a core course.

c) Call Tiffeni at the DRE and request Core topic credit.

Appraisal Reminders

•Banking of Education

•Education Roster

•Qualifying Education must have AQB approval and online courses must have IDEC approval

•All CE must be approved

Education can not be duplicated

You may take a course only once in any

renewal period.

Mortgage EducationApprovals

Pre-licensing Continuing Education

2009 DRE – 20 hours DRE – 14 hours

2010 NMLS – 20 hours

DRE – 40 hours

NMLS and DRE

2011 NMLS – 20 hours

DRE – 40 hours

NMLS

Rules, rules, rules….