1. (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:

   1. (a) loan underwriter;
   2. (b) mortgage loan manager;
   3. (c) loan processor;
   4. (d) certified mortgage prelicensing instructor;
   5. (e) second-lien residential loan originator; and
   6. (f) a licensed mortgage loan originator working as a junior loan officer or assistant loan officer.

2. (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:

   1. (a) be awarded experience credit as deemed appropriate by the division; and
   2. (b) complete the experience requirement through additional experience as a first-lien residential mortgage loan originator, as determined by the division.

KEY: residential mortgage, loan origination, licensing, enforcement

Date of Last Change: March 24, 2026

Notice of Continuation: December 19, 2024

Authorizing, and Implemented or Interpreted Law: 61-2c-103(3); 61-2c-402(4)(a)