ProSchools has submitted a lot of courses for NMLS approval over the past month.  Approvals are rolling in now!

Our strategy is to submit a 20-hour course for each state and include the state-specific laws within the course. This serves two purposes: 1) loan originators in that state will fulfill the 20 hours for NMLS, and 2) the state laws, whether required as part of the education or not, will help LOs pass the state component of the SAFE MLO Test. Read the rest of this entry »

New Hampshire passed legislation that went into effect April 1, 2009, requiring all individuals whose activities fall under the legal definition of “loan originator” to be licensed. This fulfills mandates of the SAFE Act. So the question is, how does this transition out over the next months?

All loan originators have to be licensed through the NMLS and must be sponsored by a company that has filed and been approved on the NMLS.  Since April 1st 2009, no individual can act as a loan originator without an approved New Hampshire license. Read the rest of this entry »