Final answer:
The required hours of education for a mortgage broker prior to approval can vary by area and are determined by regulatory bodies. There is no universal standard mentioned regarding the number of hours within five years, so one should check with their local authority. Knowledge of mortgage terms and credit is essential in this field.
Step-by-step explanation:
The requirements for the number of hours of education a mortgage broker must complete can vary by jurisdiction and are often mandated by national or state regulatory bodies. However, as per the student's question, there is not a clear standard that specifies a certain number of hours of education within five years prior to approval. It's important to check with the relevant governing body or licensing authority in your area for specific requirements.
In general, mortgage brokers must be knowledgeable about the mortgage process, including the terms of a mortgage, which are typically either 15 years or 30 years. Understanding credit is an essential part of this education, as it affects clients' eligibility for loans and the terms of those loans.