Kentucky using new test for mortgage professionals

FRANKFORT, Ky. (AP) - Kentucky is among 25 states that have begun using a new standardized test for people seeking licenses to work as mortgage loan originators and processors.

The Kentucky Department of Financial Institutions says the new test makes the licensing process for mortgage professionals more efficient. Previously, mortgage professionals had to pass a national test then pass separate state tests for locations where they would do business.

Testing has been required since 2008.

Mortgage professionals also have to undergo continuing education to ensure they remain abreast of changes in state and federal laws.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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