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What is the NMLS?

The Secure and Fair Enforcement Act, also known as the "SAFE" Act was a mortgage licensing act passed in 2008 for better enforcement for mortgage licensing. It established universal state education and testing requirements and the Nationwide Multistate Licensing System and Registry (NMLS). The NMLS was created as a licensing and registration resource for prospective and current mortgage professionals . It was also meant to bring about fair enforcement for mortgage practices, which it has. Beyond the benefits it has brought to licensed mortgage loan originators, it has provided consumers more financial protection and a better way to search for a mortgage company and/or specific mortgage loan originator.

All NMLS requirements for pre-license and continuing education (CE) hours must be completed, recorded, and verified through an NMLS provider, a company that provides NMLS approved education. The most popular and common format in many states for pre-license courses is online instructor-led.

Is MEC the right mortgage school for me?

MEC has been an NMLS approved education provider since 2009 (Provider #1400062 which can be verified on the NMLS approved provider list). MEC passes thousands of students each year in multiple states through the 20 hour education course and the national exam. MEC not only delivers updated and relevant content but has instructors that are currently in the mortgage industry to help you become the licensed mortgage loan originator you want to be. We include our test prep course to help you pass the national exam on the first try. Customer service is our first priority and our online courses are easy to navigate providing you the most complete positive learning experience.

Does this course work and is valid in my state?

Each state has different education requirements but all require at least 20 Hours of approved pre-license education. Some states require additional elective hours. In other words, this course will work in any state for the comprehensive education requirement, but your state may require you to complete additional or specific hours that must also be completed. For an updated state-specific education chart use the link provided to find out if your state has any requirements outside of the 20 Hour SAFE Course. (NMLS Education Quick Link WEBSITE)

The minimum pre-license education requirements for new mortgage loan originators is outlined in the SAFE Act according to the following categories:

• 3 hours of Federal law and regulations

• 3 hours of ethics & fraud

• 2 hours of lending standards related to non-traditional mortgage products

• 12 hours of undefined instruction on mortgage origination

Make sure to add our new Ultimate Package!

This includes our First Time Pass Guarantee! If you do not pass the NMLS National Exam after satisfying the requirements below, $110 or the package purchase price, whichever is less, will be refunded back to you within 45 days of receipt of such request. MEC shall only provide one refund per purchase.
In order to be eligible for a refund you must have:
1. watched all Test Prep Ultimate study videos and have passed all the practice unit
quizzes as well as the final exam (with unlimited retakes) with an 75% or better
score (the “Test Prep”);
2. taken and failed the NMLS National Exam no more than 30 calendar days after
completing the Test Prep; and
3. sent a refund request to MEC at [email protected], with a copy of the
test results attached, within 30 days of the failed test.

 MEC's Course Format

This course is broken up into 5 minute sections. Each section contains pre-recorded videos followed by activities and small quizzes. We offer interactive video along with our presentation to improve the learning experience. We have weekly scheduled start dates allowing you access to the materials 24/7 once the course and chapter is loaded into your online account.  The course has 7 total chapters which take approximately 2-3 hours each to complete. The course content topic outline follows the NMLS national exam topics.

Mortgage MEC NMLS #2161 Online Course Content Online :

• Chapter 1 - Becoming an MLO
• Chapter 2 - Learning the Products and the Programs
• Chapter 3 - Initial Application
• Chapter 4 - Processing and Underwriting
• Chapter 5 - Closing and Funding
• Chapter 6 - Mortgage Ethics
• End of Course Assessment

Choose from several start dates each week and 3, 5, or 14 day track dates. All NMLS approved online instructor led courses are required to have a defined time frame of completion of either 3 or up to 14 calendar day end date. There is a live instructor leading each course track that may be used to answer questions by phone, email or live chat. 

Did you know that approximately 50% of the NMLS National Exam is not covered by the 8 hours of NMLS-mandated courses "core" topics mandated by the NMLS? Therefore, the 20 hour NMLS-approved course you choose to prepare you to pass the National NMLS Exam does matter!

At Mortgage Educators and Compliance, we have opted to allocate the 12 elective hours in 2024 to address the 50 percent of the Exam NOT covered in the "core" 8 hours. This includes detailed content concerning both mortgage loan origination activities and general mortgage knowledge. We also use a portion of the 12 hours to expand upon the most difficult section of the National NMLS Exam: Federal Laws and Regulations.

In order to provide you with the greatest opportunity to pass the National NMLS Exam with USC, we built the entire 20 hour course around the NMLS National Test Component With USC Outline. All topics and subtopics addressed on the outline are covered in great detail in our 20 Hour SAFE Comprehensive OIL (online instructor-led) Course. Also, each person applying for their mortgage license who signs up for our 20 Hour National SAFE Comprehensive pre-licensure standard course bundle will receive FREE access to our online NMLS national test

Below are some things you should know about the test and education breakdown.

NMLS National Exam with USC

The National NMLS Exam tests you in five major categories:

• Federal Law (23%)
• General Mortgage Knowledge (23%)
• Loan Origination Activities (25%)
• Ethics (16%)
• Uniform State Content (13%)

Required Education NMLS APPROVED COURSE #2161

The SAFE Act mandates that all individuals seeking mortgage licenses take 20 hours of Pre-license education to receive their mortgage license. Although 20 hours are required, only 8 of the 20 hours have topics prescribed by the NMLS governing body. The 20 hours are broken down as follows:

8 Core Hours:

• 3 hours of Federal law and regulations;
• 3 hours of ethics, this shall include instruction on fraud, consumer protection, and fair lending issues;
• 2 hours of training related to lending standards for the nontraditional mortgage product marketplace; and

12 hours of undefined elective instruction on mortgage origination:

Our NMLS approved 20 hour online instructor led bundle is comprehensive and has several available start dates and times to choose from. 

Use coupon code: AUGPL

Start your mortgage career today!

EMAIL [email protected] for any further questions.