NMLS SAFE Act Courses - The Realty Institute - a Blair Black Company

NMLS / SAFE Act Courses

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 order to meet pre-licensure continuing education requirements state-licensed MLOs must complete 20 hours of NMLS approved education which include the following:

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:

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.

While the SAFE Act requires NMLS to approve pre-licensure and continuing education courses, it is individual state law that compels mortgage loan originators to take the pre-licensure and continuing education as a requirement for state licensure. NMLS provides information concerning education requirements and administers the process for completing it, but state-licensed MLO's should refer to their state agencies regarding the specific details associated with meeting the education requirements.

NOTE FROM CA DRE

Approval has been granted for individuals who are currently licensed by the DRE to obtain certification that the pre-license education requirement has been satisfied based on the education completed to obtain their DRE license. However, to be eligible for this process, licensees must file Form MU 4 by August 31, 2010, as noted in the following instructions.

Please note that a NMLS&R system fee will be assessed as part of this process.

20 Hour SAFE Act Comprehensive Mortgage Loan Originator Course:

For this course we have partnered with Hondros College. They will be the providers for the educational materials needed satisfy this requirement.

NMLS / SAFE Act Examination Preparation:

This package contains over 700 questions and answers designed to help you pass the NMLS National and California Exams.

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$59.00

SAFE Act Continuing Education:

Continuing education will be required in 2011 for licensees in California who obtained their MLO license/endorsement in 2010.

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Resources:

NMLS – State Licensing Requirements

DRE – SAFE Act Information

*Periodic updates to the preparation material will be made available through the "Online Testing" page. Please contact us to obtain log in information.