ProSchools was one of the first NMLS-approved providers, offering “online instructor-led” (OIL) classes. Over the past year, the NMLS has required education providers update and refine their courses to meet the highest of standards required by the SAFE Act. That’s a good thing.
Changes, however, sometimes cause confusion for students accustomed to proceeding through a course a certain way. Today I’m going to take a few minutes and explain how our course assignments work. We get quite a few calls on this topic.
ProSchools’ Assignments: Read the rest of this entry »
Tags:
LO,
loan originator,
mortgage loan originator,
NMLS,
NMLS approved education,
NMLS provider,
SAFE Act
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Pennsylvania just announced they are extending the deadline for Mortgage Loan Originators to pass the National and Pennsylvania SAFE Mortgage Loan Originator Test. The deadline to complete the 20 hours of NMLS approved education is still December 31, 2009!
The deadline to pass the exams is now April 30, 2010. Extending the deadline will allow an individual who does not pass their exam an opportunity to retake the exam and still be in compliance.
The SAFE Act allows individuals four opportunities to take each of the test components. However, you must wait 30 days between each attempt. If an individual does not pass after all four opportunities then the SAFE test cannot be retaken for six month.
The main theme I think that can be learned from this is that states might be more willing to extend the testing deadlines because of the retake policy and test availability, but may not budge on the education deadlines! ProSchools, an NMLS-approved provider, has taken lots of calls from Pennsylvania loan originators concerned about the end of year deadline. Some people are not aware of the change, so we are trying to get the word out.
Tags:
mortgage,
mortgage loan,
mortgage loan originator,
NMLS,
NMLS education,
NMLS provider,
SAFE Act,
SAFE Test
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South Carolina loan originators will now have to complete 20 hours of prelicense education and pass the SAFE exam to be licensed. The exams will consist of a National component and a separate South Carolina component. The deadline for current and new licensees to meet the new SAFE requirements depends on when you were licensed. Read the rest of this entry »
Tags:
Department of Consumer Affairs,
mortgage broker,
mortgage loan originator,
NMLS education,
NMLS provider,
ProSchools,
SAFE exam,
South Carolina loan originator
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