What is the Latest with District of Columbia and the SAFE Act?
Posted by Deanne Gillock in Education Requirements, Mortgage Licensing, NMLS, NMLSR, SAFE Act, Uncategorized
ProSchools just received NMLS-approval to offer District of Columbia loan originators the 20-hour SAFE course.
The 20-hour DC SAFE Comprehensive course satisfies the education required by the District of Columbia’s DISB. We’ve included the required 3 hours of DC Law in the course. Mortgage license applicants must also pass the SAFE Mortgage Loan Originator Test – both the state and national components. For those licensed in multiple states (and have already completed 20 hours & passed the National Test), they would only need to take the 3 hours of DC Law and pass the state component of the SAFE Test.
Transition Plan: Looks like all DC loan originators need to complete the pre-license education and pass the exams by July 31, 2010. They also need to furnish fingerprints less than ninety days old to the NMLS for completion of a national criminal history background check. The NMLS recommends starting this process early. We keep reminding people that there’s a 30-day waiting period to re-take the test if failed.
One last thing, District of Columbia’s DISB requires anyone applying for a mortgage loan originator license fill out a form called “Clean Hands Before Receiving a License or Permit Act of 1996 Certification Form”. Whew! I printed out the form and it looks like you are certifying that you do NOT owe more than $100 to the District of Columbia Government as a result of various types of infractions, including littering, illegal dumping, civil infractions, past due taxes, water bills, No-Fault auto insurance, traffic tickets, auto dealer fines, or parking fines.
Keep checking back for the latest course approvals. Ohio is submitted and we’re waiting for approval.
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