| Q. |
What is a mortgage loan originator? |
| A. |
A Mortgage Loan Originator (MLO) is someone who takes a residential mortgage loan application, offers or negotiates terms of a residential mortgage loan, or assists a consumer in obtaining or applying to obtain a residential mortgage loan.
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| Q. |
What are the licensing requirements as issued through safe? |
| A. |
The Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act) established requirements for the licensing and registration of all Mortgage Loan Originators (MLOs). MLOs who work for an insured depository or its owned or controlled subsidiary that is regulated by a federal banking agency or an institution regulated by the Farm Credit Administration are exempt from the education and testing requirements. All other MLOs need to be licensed by the state, complete the education requirements, and pass the state and national SAFE exams.
Learn more: NMLS Website
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| Q. |
What are the continuing education requirements as issued through safe?
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| A. |
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.
Learn more: NMLS Website
*may also include state specific content
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| Q. |
What are my state's licensing requirements?
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| A. |
NMLS Website - State Licensing Requirements
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| Q. |
What are my state's continuing education requirements?
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| A. |
NMLS Website - State Licensing Requirements
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| Q. |
What is the process to meet the licensing requirements?
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| A. |
See our SAFE Act page for information.
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| Q. |
Do I Need a Background Check In Order To Become Licensed?
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| A. |
The NMLS requires a federal criminal background check (CBC) through the Federal Bureau of Investigation. The background check is initiated through fingerprinting. Please follow the link below for the NMLS mandated process.
Criminal Background Check Process
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| Q. |
Will I need to maintain my license? |
| A. |
NMLS requires all licensees to complete a yearly CE requirement. The renewal period is
November 1 to December 31 each year.
Learn more: NMLS Requirements Chart
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| Q. |
Do I need to apply with the NMLS in order to begin my course? |
| A. |
You will not need an NMLS number in order to begin your Kaplan course, however please ensure you create your individual account through the NMLS Web site and report the NMLS number to Kaplan prior to the completion of your course. This must be completed for Kaplan to successfully report your required course completion.
Create your NMLS account
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| Q. |
Is There an Orientation For My Licensing Course? |
| A. |
The NMLS requires education providers to provide an orientation and system check for the SAFE Comprehensive course, and it must be completed at least 30 minutes prior to the course start time. You may log in to your cart using the following link to access the orientation: (link to the orientation once it's available)
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| Q. |
How is my course completion reported to the NMLS? |
| A. |
Once you have successfully completed your course, Kaplan Real Estate Education will report your completion to the NMLS within 7 days of your final completion. You must ensure we have your NMLS number on file for us to report your completion.
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| Q. |
Will I receive any course materials? |
| A. |
Depending on your course type you may receive a hard cover book shipped to you or an
electronic pdf.
- Online Licensing: PDF
- LIVE Online Licensing: PDF & Book
- National Exam Prep: PDF & Book
- State Exam Prep: PDF
- Continuing Education: None
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| Q. |
What is a bio-data question? |
| A. |
A bio-data question requires the user to answer a question related to personal information collected either at the time of enrollment or before the course begins. The NMLS requires such questions to be issued in order to ensure the user is indeed the individual who initially enrolled in the course.
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| Q. |
What happens if I miss live online licensing class time? |
| A. |
The NMLS has very strict attendance guidelines. It is imperative that you complete the course as scheduled. If you miss any class time, you must start the course over from the beginning. Please contact Kaplan Real Estate Education Customer Service (877-792-4473) for assistance.
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| Q. |
Do I need to pass an exam to complete my online course? |
| A. |
You must complete a final examination upon completion of the course. There is no minimum score requirement for the Kaplan course exam; however, you must complete the final exam and submit your course completion affidavit by 11:59 PM ET Friday (the week of your course) to successfully complete the education requirements. If you do not fulfill this requirement, you must contact Kaplan Real Estate Education Customer Service (877-792-4473) to re-enroll in the course.
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| Q. |
Is there a licensing exam requirement through SAFE? |
| A. |
The SAFE Mortgage Licensing Act also requires all loan originator applicants to take a state and national exam prior to licensure. Exam participants must pass with a 75% or higher. The tests are written by the Nationwide Mortgage Licensing System and Registry and administered by an approved test provider. An individual may retake a test three consecutive times with each consecutive taking occurring at least 30 days after the preceding test. After failing three consecutive tests, an individual must wait at least six months before taking the test again.
Reserve your SAFE exam date with an NMLS exam provider.
»Prometric
»Pearson VUE
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| Q. |
Does Kaplan have a course to help me pass the SAFE exam? |
| A. |
Kaplan strongly suggests you enroll in our SAFE exam prep courses. These OnDemand SAFE exam prep courses are recorded virtual classroom programs that you can study anytime, anywhere. Industry expert instructors, dozens of interactive activities, and full practice exams prepare you for exam day. You do not need to complete an exam prep course in order to satisfy the NMLS education requirements.
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