ONLINE MORTGAGE CLASSES


Mortgage Loan Originator
The SAFE Act requires states adopt minimum licensure standards and see that loan originators meet these standards no later than January 1, 2011. Many states have already passed legislation and will begin enforcing the license exam and prelicense education requirements soon.

Licensing Requirements
Each state will pass its own version of the S.A.F.E. Act but the licensing requirements for a Mortgage Loan Originator will usually include at a minimum:

- Provide fingerprints for an FBI criminal history background check
- Provide authorization for NMLS to obtain a credit report
- Input and maintain their personal Mortgage Loan Originator record in NMLS as their license in each state in which they wish to conduct loan origination activity
- Pass a national mortgage test

Take 20 hours of prelicensure education courses approved by NMLS (this is a minimum- some states are requiring more hours). The education must include:
- 3 hours of federal law and regulation
- 3 hours of ethics, which include fraud, consumer protection, and fair lending
- 2 hours of standards on non-traditional mortgage lending

This course is the 20 Hour SAFE Comprehensive program approved by The Nationwide Mortgage Licensing System. This program prepares you to sit for the national portion of the NMLS licensing examination. This course is Instructor-led, which means you are supervised by an instructor while you complete the lessons and assignment.

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