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ProSchools is here for you Louisiana Mortgage Loan Originators!  Did you know that you are one of the fast track states?  What does this mean?  Your state, Louisiana, is one of the first in the nation  to take part in the SAFE Act transition plan.

ProSchools will be here,  ready to assist you with your educational requirements.  We can help you meet your educational needs with a high quality program.

As of July 31, 2009 the requirements for loan originators to be licensed in Louisiana are:

Complete 24 hours of NMLS-approved education. The education must include a minimum of 3 hours of federal law and regulations, 3 hours of ethics, and 2 hours related to lending standards for nontraditional mortgage product marketplace.

Anyone licensed or that was exempt from licensing prior to July 31, 2009 has until July 31, 2010 to satisfy the prelicense education requirement.

• NOTE: 20 hours of the prelicense education may be taken through any NMLS-approved provider, such as ProSchools. Loan originators will also need to take 4 hours of NMLS-approved education through either the Mortgage Bankers Association or the National Association of Mortgage Brokers.
• Submit fingerprints, pass a national background check and demonstrate financial responsibility. Anyone licensed on or before July 30, 2009 will have until December 31, 2010 to satisfy these requirements.
• Pass the NMLS Mortgage Loan Originator test on Federal and State laws/rules. Anyone licensed or that was exempt from licensing prior to July 31, 2009 has until July 31, 2010 to satisfy the prelicense education requirement.
• Register with the National Mortgage Licensing Registry (NMLS).

Please visit our Web site www.proschools.com to view more information about the NMLS Loan Originator Test.

This entry was posted on Monday, August 24th, 2009 at 12:05 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.