,i  #aacth ,,congress  #b;d ,session    
,h4 ,r4 #ecaj  ,,in ,,the ,,house ,,of  
,,representatives  ,july #ca1 #bjad ,mr4
 ,gary ,g4 ,miller of ,california 7for  
himself and ,mrs4 ,carolyn ,b4 ,maloney 
of ,new ,york7 introduced the following 
bill2 which was referred to the         
,committee on ,financial ,services  ,a  
,,bill  ,to amend the ,s4,a4,f4,e4      
,mortgage ,licensing ,act of #bjjh to   
specify that courses offered by lenders 
for their own employees may not satisfy 
the pre-licensing education or          
continuing education requirement4  #a4  
,short title ,this ,act may be cited as 
the ,protecting ,independence in the    
,education of ,loan ,originators ,act of
 #bjad4  #b4 ,limitation on educational 
courses  7a7 ,pre-,licensing courses    
,section #aeje7;c77#c77;,a7 of the      
,s4,a4,f4,e4 ,mortgage ,licensing ,act  
of #bjjh 7#ab ,u4,s4,c4                 
#eajd7;c77#c77;,a77 is amended to read  
as follows3  7,a7 ,limitation ,to       
maintain the independence of the        

approval process--  7i7 the ,nationwide 
,mortgage ,licensing ,system and        
,registry shall not directly or         
indirectly offer pre-licensure          
educational courses for loan            
originators2 and  7ii7 no course offered
 directly or indirectly by a lender for 
the lender's own employees shall qualify
 for purposes of paragraph 7#a74  4  7b7
 ,continuing education courses ,section 
#aejf7;b77#e77;,a7 of the ,s4,a4,f4,e4  
,mortgage ,licensing ,act of #bjjh 7#ab 
,u4,s4,c4 #eaje7;b77#e77;,a77 is amended
 to read as follows3  7,a7 ,limitation  
,to maintain the independence of the    
approval process--  7i7 the ,nationwide 
,mortgage ,licensing ,system and        
,registry shall not directly or         
indirectly offer continuing education   
courses for loan originators2 and  7ii7 
no course offered directly or indirectly
 by a lender for the lender's own       
employees shall qualify for purposes of 
paragraph 7#a74  4