TopMortgage Compliance Update (1)

November 29, 2011


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The SAFE Act requires state-licensed MLOs to complete 8 hours of annual Continuing Education (CE). The Nationwide Mortgage Licensing System and Registry (NMLS) has issued reminders that MLOs need to complete their Continuing Education (CE) requirements in order to renew their license for 2012.

The SAFE Act's Successive Year Rule requires MLOs to complete 8 hours of CE every year and mandates that an MLO may not take the same course two years in a row.

According to the NMLS, this year over 16,000 companies and 115,000 state licensed mortgage loan originators - holding licenses from one or more of the 58 state agencies using NMLS - are eligible to renew their licenses for 2012.

The following sections may assist your use of the NMLS.Back
Are You Required to Complete CE in 2011?

NMLS Testing Page

NMLS Education Page

NMLS Course Providers Page

NMLS Annual Renewals

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Are You Required to Complete CE in 2011?Requirements  
CE Requirements (2011-2012)
NMLS Testing PageTesting
NMLS Testing Page

The SAFE Mortgage Loan Originator Test is comprised of two parts - a National Component and a State Component. Many state agencies require a passing score on the National and State Component prior to submitting an application through NMLS.
  • National Component: All state licensed MLOs are required to pass the National Component of the SAFE MLO Test.
  • State Component: All state licensed MLOs are required to pass a State Component of the SAFE MLO Test for each jurisdiction in which they hold a license.   
Federally registered MLOs are not required to take either component of the SAFE Mortgage Loan Originator Test.
 NMLS Education PageEducation   
NMLS Education Page

If you were required to take continuing education (CE) in 2010 and failed to do so, you must complete a Late CE course in order to satisfy the requirement for licensure.  


If you are returning to the industry, the application process for a new license requires you to satisfy any CE deficiency for the last year in which you were licensed. Only the courses listed in the Late CE Catalog (and no others), may be used to make-up 2010 CE requirements.

 NMLS Course Providers PageProviders     
NMLS Course Providers Page  

3 Steps to Becoming a Provider:

- Step 1: How to Become a Provider
- Step 2: How to Submit Courses
- Step 3: How to Report Course Completion
 NMLS Annual RenewalsRenewals       
NMLS Annual Renewals

NMLS has prepared a Renewal Handbook to guide state-licensed companies and individuals through the renewal process.

-Renewal Handbook for Companies
-Renewal Handbook for Individuals

Training workshops are available for company users to provide a demonstration of the renewal process in NMLS.
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Lenders Compliance Group is the first full-service, mortgage risk management firm in the country, specializing exclusively in mortgage compliance and offering a full suite of hands-on and automated services in residential mortgage banking.

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These publications are free to subscribers. Information contained herein is not intended to be and is not a source of legal advice.

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