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NMLS Licensing Classes

The 20 Hour S.A.F.E. Comprehensive Mortgage Loan Originator Course...

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NMLS Test Prep Packages

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NMLS Licensing classes begin six days each week

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NMLS and SAFE Act Requirements

If you are a mortgage industry professional, you need to take action to ensure your licensure.

The Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act) requires that state-licensed mortgage loan originators (MLOs) complete pre-licensure and annual continuing education.

In addition to other requirements, all MLOs must then pass the SAFE Mortgage Loan Originator Test, which is comprised of two components: a state component and a national component. MLOs must pass each component with a score of 75% or higher prior to renewal for 2011.

The test failure rate is high! But you can be prepared for the test with LoanOfficerSchool.com’s comprehensive SAFE Act Training Program. We cannot guarantee that you’ll pass the test, but we’ll provide you with every resource necessary to succeed – at a much lower cost than you may imagine.

Your Comprehensive SAFE Act Training Program

In order to meet pre-licensure continuing education requirements, state-licensed MLOs must complete 20 hours of NMLS-approved education that includes the following topics:

  • 3 hours of Federal law and regulations;
  • 3 hours of ethics, this shall include instruction on fraud, consumer protection, and fair lending issues;
  • 2 hours of training related to lending standards for the nontraditional mortgage product marketplace; and
  • 12 hours of undefined instruction on mortgage origination.

For annual continuing education, the SAFE Act requires state-licensed MLOs to complete 8 hours of NMLS-approved education that includes the following topics:

  • 3 hours of Federal law and regulations;
  • 2 hours of ethics that shall include instruction on fraud, consumer protection, and fair lending issues;
  • 2 hours of training related to lending standards for the nontraditional mortgage product market; and
  • 1 hour of undefined instruction on mortgage origination.

Course Topics

NMLS has specified approved course topics intended to satisfy the education requirement for federal law and regulations. The LoanOfficerSchool.com SAFE Act Training Program will present key courses that include many of these approved topics:

  • Truth in Lending Act (TILA) and associated Sections
  • Equal Credit Opportunity Act (ECOA) (Reg. B)
  • Real Estate Settlement Procedures Act (RESPA) and associated Regulations
  • Home Ownership and Equity Protection Act (HOEPA)
  • Home Mortgage Disclosure Act (HMDA)
  • Depository Institutions Deregulation and Monetary Control Act (DIDMCA)
  • Alternative Mortgage Transaction Parity Act (AMPTA)
  • Fair Lending
  • SAFE Act
  • Fair Credit Reporting Act
  • Privacy Protection / Do Not Call
  • FTC Red Flag Rules / Fair and Accurate Credit Transaction Act of 2003
  • FHA Mortgage Lending and relevant programs
  • Appraisal Law
  • Underwriting
  • Annual Legal, Legislative, and Regulatory Review
  • Gramm-Leach-Bliley Act (GLB)
  • Consumer Credit Protection Act
  • Fair and Accurate Transaction Act (FACTA)
  • Federal Truth in Advertising
  • Fair Housing Patriot Act
  • Flood Disaster Protection Act

NMLS-approved course topics intended to satisfy the education requirement for ethics to include fraud, consumer protection, and fair lending issues include:

  • Real Estate Settlement Procedures Act (RESPA) and appropriate regulations
  • Truth-in-Lending Act
  • Fair Credit Reporting Act
  • Appraisals
  • Fraud Detection, Reporting, and Prevention
  • Predatory Lending
  • Privacy and Security
  • Ethical Behavior as it relates to:
    • Consumers and Consumer Protection
    • Appraisers

NMLS-approved course topics intended to satisfy the education requirements related to standards for non-traditional mortgage products include:

  • FHA Programs
  • Mortgage Insurance Premium (MIP)
  • Alternative Financing
  • VA Programs
  • Understanding the Difference Between Traditional and Non-traditional Mortgage Products
  • Adjustable Rate Mortgages (ARM)
  • Reverse Mortgages
  • History of Non-Traditional Lending and Current Trends
  • Courses related to Rural and Farm Loans

NMLS-approved course topics intended to satisfy the undefined (electives) hours of education required include:

  • Any course related to Mortgage Loan Originator Activities/Process
  • Courses related to Reading and Understanding Credit Reports/Scores and Tax Returns or Debt-to-Income Ratios
  • Private Mortgage Insurance
  • State and Local Mortgage Law
  • Understanding Sales Contracts
  • Title Insurance
  • Courses related to Loan Origination Documents
  • Courses designed to Assist Distressed/Delinquent Browsers
  • Courses related to the Sub-Prime Market
  • Courses related to Fannie Mae and/or Freddie Mac
  • Courses related to Mortgage Math and Calculations

Upcoming Venues and Tuition for Live Courses

Start Your Training Program Today

LoanOfficerSchool.com has trained Thousands of mortgage industry professionals. In less time than you think, you can be prepared for the SAFE Act test. You can study while you work. We offer flexible payment plans and convenient locations. Don’t delay! Contact LoanOfficerSchool.com today and get your training started.

Call for private classes and consulting to increase your companies production — guaranteed.

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