If you are or are planning to be 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 20 hours of pre-licensure education. Many states require additional state law education, as well. View the current state-specific requirement chart (PDF).
All MLO’s must also pass the SAFE Mortgage Loan Originator Test. A score of 75% or higher is needed to meet this requirement. If you do not pass, you must wait 30 days before retaking the exam. After three failed attempts, a 180 day wait period is required. This is a difficult exam that you do not want to take lightly. The pass rate for first timers is only about 60% and only 44% in subsequent attempts.
We provide everything you need to fully prepare for and pass this Loan Originator Test. Our courses and products have a long and proven track record of success! The test prep package includes all of the following:
- 12-hour video covering the business A-Z with everything you need to know to pass the test and succeed in the industry.
- All the slides (over 750) from your 20 hr webinar course.
- Two 100 question practice exams along with case studies.
- PDF’s dedicated to mortgage terminology and math equations.
The final steps for licensure involve submitting fingerprints for a a criminal background check, and authorizing a credit report check. View details of the entire process.
The SAFE Act requires that state-licensed MLOs complete 8 hours of education annually to maintain your license. Many states require additional hours of state law to be part of or in addition to this requirement. View the current state-specific requirement chart (PDF).
The SAFE Act has a successive year rule that mandates that an MLO may not take the same course two years in a row. All our CE courses are brand new each year so this rule is not a concern. Regardless of your state or requirement, we have it available for you. View our CE training options.
Start Your Training Program Today
LoanOfficerSchool.com has been in business since 1987 and trained tens of thousands of mortgage industry professionals. Check out what our students are saying by reading our testimonials and our TrustLink reviews.
Don’t take chances on your education and licensing. We are the best in the industry and stand behind everything we offer. Contact LoanOfficerSchool.com today and get your training started!