TrainingPro Gains Course Approval from NMLS
TrainingPro acquires NMLS approval for its 20-hour and 8-hour mortgage pre-licensing courses. Classes available now!
State Education Updates
TrainingPro Is an Approved NMLS Education Provider
TrainingPro, the national leader in mortgage education, is proud to announce its approval as a mortgage education course provider through the Nationwide Mortgage Licensing System & Registry (NMLS). TrainingPro is now authorized by the NMLS to provide the federally mandated mortgage pre-licensing and mortgage continuing education outlined in the 2008 Secure and Fair Enforcement for [...]
South Dakota is Moving Towards S.A.F.E. Compliance
South Dakota’s Governor signed House Bill 1060 into law on March 16, 2009, giving the Director of Banking the authority to promulgate rules that will bring the state into compliance with the federal Secure and Fair Enforcement for Mortgage Licensing Act.
Among the topics that must be discussed in the upcoming months are pre-licensing education [...]
New Mexico to Regulate Mortgage Loan Originators
Effective July 31, 2009, all mortgage loan originators, as well as a qualified manager for each mortgage loan company, must obtain a license in order to participate in the business of a mortgage loan originator with respect to any dwelling located in New Mexico.
Each mortgage loan company must assign at least one qualified manager [...]
Launch Date for National Test is Near
The National Mortgage Loan Originator exam, required to be passed by each MLO with a 75% pass rate, is scheduled to be available on or around July 30.
The NMLS has selected Pearson VUE to administer the exam. Exams can be taken at nearly 500 locations operated by Pearson VUE or Prometric. For test scheduling information, candidates [...]
Kansas Passes New Licensing Requirements
Governor Mark Parkinson signed Senate Bill 240 into law on March 27, 2009. The bill makes changes to both the Uniform Consumer Credit Code (UCCC) and the Kansas Mortgage Business Act (KMBA) in order to establish standards for the regulation of mortgage loan originators in the state of Kansas.
The new law gives the Consumer Credit [...]
Connecticut Passes New Mortgage Licensing Law
On May 21, 2009, Governor Jodi Rell signed Senate Bill 948 into law, making sweeping changes to the Connecticut mortgage licensing law.
The bill implements the 2008 federal Secure and Fair Enforcement for Mortgage Licensing Act (S.A.F.E. Act) by imposing conditions on licensing for mortgage professionals, including education and testing. It changes definitions, confidentiality and surety [...]
New Jersey Becomes Compliant with the S.A.F.E. Act
On May 4, 2009, Governor Jon Corzine signed the New Jersey Residential Mortgage Lending Act (RMLA) into law effectively bringing his state law into compliance with the federal S.A.F.E. Act. The new law establishes licensing standards, business practices and oversight for residential mortgage lenders, correspondent mortgage lenders, residential mortgage brokers, qualified individual licesees and mortgage [...]
New York Banking Department Makes Switch to NMLS
Effective July 1, 2009, no person or entity, except those exempted by law, may engage in the business of servicing New York residential mortgage loans without first being registered with the Superintendents of Banks as a Mortgage Loan Servicer.
The New York Banking Department began managing mortgage servicer registrations on the Nationwide Mortgage Licensing System [...]
Georgia Implements the S.A.F.E. Act
Georgia Governor Sonny Purdue signed House Bill 312, implementing the mortgage loan originator licensing provisions of the federal S.A.F.E. Act, into law on April 29, 2009. The legislation requires all persons engaging in mortgage loan origination activity to be licensed by January 1, 2010.
According to the new law, all mortgage loan originators must be supervised [...]
