They're specific about renewals in the final rule published today:
§ 3400.107 Minimum annual license renewal requirements. For an individual to be eligible to renew a loan originator license as required under § 3400.103(f), a state must require the individual:
(a)(1) To continue to meet the minimum standards for license issuance provided in § 3400.105; and
(2) To satisfy annual continuing education requirements, which must include at least 8 hours of education approved by the NMLSR. The 8 hours of annual continuing education must include at least:
(i) 3 hours of Federal law and regulations;
(ii) 2 hours of ethics (including instruction on fraud, consumer
protection, and fair lending issues); and
(iii) 2 hours of training related to lending standards for the nontraditional mortgage product marketplace.
Here is a link to the final rule. The information above is on page 34.
http://frwebgate1.access.gpo.gov/cgi-bin/PDFgate.cgi?WAISdocID=X8H6BV/0/2/0&WAISaction=retrieve