Join the 60% of MLOs that are PASSING the National SAFE Exam on the first attempt!

If you are reading this you have already taken your first step in building a solid foundation that will allow you to thrive in this industry. While this test is designed to be difficult, we are committed to providing you with the tools you need to succeed. Our industry experts have put together 6 key tips and tricks to help prepare you to achieve a passing score on the National SAFE exam.

 

1. Understanding How the Test is Designed

In an effort to protect our industry standards, the NMLS has designed the National SAFE Test to help ensure that those entering the industry meet the minimum requirements and expectations to keep consumers safe. The test is designed to evaluate your overall understanding of the content and topics.

 

The test consists of 120 multiple-choice items (115 scored test questions and 5 unscored test questions) that are distributed among the five major content areas.

 

Content Area Percentage of Test
Federal Mortgage-Related Laws	24%
General Mortgage Knowledge	20%
Mortgage Loan Origination Activities	27%
Ethics	18%
Uniform State Content	11%

 

Utilize and review the SAFE test outline provided by the NMLS. We recommend making sure you fully understand each topic that is covered in the outline so that you are able to apply the knowledge to choose the most correct answer that is offered.

 

2. Prioritize Time to Study the Material 

Now that we know how the test is designed, and what it will cover, let's talk about the importance of becoming familiar with the 5 concepts listed above. We recommend that you study for at least 20 hours for the SAFE test. This does NOT include your 20+ hours of pre-licensing education.

 

The amount of time you spend with the material will have a serious impact on how much you recall while in the testing center. Did you know we offer additional resources such as Test Prep Options and 1-on-1 Tutoring?

 

3. Make Your Study Time More Effective

Effective studying begins with creating a conducive environment for learning and having a positive attitude toward the task at hand. Start by breaking down the material into manageable chunks and using a variety of study methods such as reading, writing, flashcards, and practice questions. Be sure to check the NMLS SAFE Test Outline for the info that is on the test and find the sections that you might be currently struggling with. This is a great start to organizing not only what to study but how much of each section to study. Active recall, like attempting to explain the concept to someone else, is also a great way to reinforce your learning. Additionally, taking breaks and getting enough sleep can help you retain information better. It's also helpful to quiz yourself regularly to test your understanding and identify areas where you need more practice. If you have purchased the Ultimate Test Prep Course, it includes access to the mobile app MEC Pass+. This app can help provide a way to take the quizzes on the go and has some flashcards that you could use to help you study. Don't wait until the last minute to start studying and try to avoid multitasking while studying. Most importantly, believe in yourself and your ability to succeed!

 

4. Utilizing your Pre-Licensure Course

The 20-hour pre-licensing education course that is required before obtaining your license is designed to teach essential concepts that are key in loan origination. Whether you have taken the course already or are trying to prepare for it, we recommend that you take your time in the course to learn as much as you can. If you have finished the course and no longer have access to those materials, please reach out to our support team and we will be happy to help you get access to the course materials again in a study-only version. We know this is a lot of material to cover and it could be very helpful to go back through the course and watch the videos on concepts that may have been more difficult for you.

 

 

 

5. Prioritize Concepts Over Answers

The SAFE test is designed to make you understand key concepts and apply them to more advanced topics. As an education provider that offers a national test prep course, we do not know the exact questions that are going to be on the SAFE test. The NMLS does not share its test questions with anyone. We do, however, have industry-leading experts to help cultivate questions that will help you to learn those topics. Every year we have heard students say, after failing the test, "I took the test prep course and memorized every answer! How could I have possibly failed the test?!" The answer to that question is right there: you're focusing too much on the answers. So while taking our SAFE test prep course, don't memorize the answers. Think about what concept the question is asking about and answer from your knowledge of that concept rather than from an answer you memorized in a prep course.

 

6. Take Control Of Your Stress And Anxiety

Stress about a test is completely normal and can actually be a good thing. It shows that you are taking the test seriously and are dedicated to doing your best. However, excessive stress can have negative effects on your well-being, including loss of sleep, decreased appetite, and a weakened immune system. To perform at your best, it's important to find ways to reduce test anxiety.

 

Here are several strategies that can help, first, it's important to recognize and acknowledge the stress you're feeling. This can help you understand what might be causing it and find ways to cope. Second, try to adopt a positive mindset and focus on your strengths and abilities. Knowing your strengths can help you cater your studying to your learning style. This can help you feel more confident and motivated. Third, make sure you're taking care of yourself by getting enough sleep, eating well, and engaging in physical activity. Finally, consider reaching out to others for support, whether that's friends, family, or our Facebook study group. Talking about your stress and getting encouragement can help you feel better and find effective solutions to reduce your stress.

 

If you are feeling nervous about the SAFE test, don't worry! Preparation is key to success. Take a test prep course to get comfortable with the material and to increase your chances of success. Additionally, Willamette University put together a great article, 10 Ways To Beat Test Anxiety, which we have found to be a great resource on the topic of stress.

  

 

 

 

Get Your Mortgage Loan Originator License in 2020!

 

North Carolina Bundle Starting at: $399 Now Only $279! Use Promo Code: NCPE279

Add North Carolina Elective Now Only $79.98! Use Promo Code: NCPE69

 

 

With Mortgage Educators, you can secure your North Carolina mortgage license on your terms! Whether you are brand new to the mortgage loan origination career, or already have a license in another state, we have a certified NMLS North Carolina mortgage education course bundle tailored for your needs. The 20+4-hour pre-license bundle is intended for new mortgage loan originators, while the 4-hour state law course is directed towards existing loan officers. With our online mortgage education course bundles, you can satisfy the NMLS mortgage education requirements on your schedule.

 

How to Get Your MLO License in North Carolina

 

1. Fulfill all state and federal education requirements as designated by your state agency. (20+4 Hr NC)

 

2. Schedule, study for and pass your national mortgage exam.

 

3. Apply for the MLO License: Complete and submit your MU4 through the NMLS including, paying the licensing fee, completing a criminal background check and an authorized credit report.

 

 

North Carolina Mortgage License Requirements

In order to be licensed as a mortgage loan originator, there are a predetermined number of mortgage education hours that must be completed and reported to the NMLS. The required number of hours vary per state, however, 20 hours of national education requirements serve as a foundation. In North Carolina, 20 hours of mortgage education are required to fulfill national requirements, in addition to 4 hours of state law education. By completing all 24 hours of educational requirements, and passing the NMLS national exam, you will receive your North Carolina mortgage license.

 

Mortgage Educators provides three different resources to complete mortgage education requirements - online instructor-led courses, live webinars, and live classroom sessions. New mortgage loan originators generally opt for the online instructor-led courses, like those shown above. These online mortgage education courses consist of pre-recorded video lessons, supported by slideshow presentations, and comprehensive self-tests to help you prepare for the national exam. Upon completing the online course, Mortgage Educators will complete all progress to the NMLS, and deliver your new loan origination license once the requirements are complete.

 

New state-licensed Mortgage Loan Originators are required to complete a 20 hour SAFE pre-licensure education course that includes:

 

3 hours of Federal law and regulations

 

3 hours of ethics, fraud, consumer protection, and fair lending issues

 

2 hours of non-traditional mortgage lending

 

12 hours of undefined instruction (electives)

 

4 hours of North Carolina state law education

 

PE Expiration Policy in North Carolina

PE Expiration is a policy that was created by the NMLS Policy Committee that addresses situations in which an individual is required to retake 20 hours of pre-licensure education if they fail to acquire a valid mortgage license within three years from the last date of licensure as a mortgage loan originator. PE Expiration policy is enacted in North Carolina which means the policy is now enforced.

 

Mortgage Broker vs. Mortgage Loan Officer: What's the Difference?

Mortgage broker licenses are commonly confused with the more common loan officer license. While the terms mortgage broker, loan officer, and mortgage loan originator are similar, they aren’t synonymous. So what’s the difference?

 

Generally speaking, a mortgage broker is a company that employs mortgage loan officers. The loan officers are employed by the broker to originate loans for home-buyers when they are looking for a loan for their mortgage.

 

 

 

Additional Questions?

Mortgage Educators and Compliance is here to answer any additional questions that you may have in regards to your North Carolina mortgage license. For additional questions, feel free to call us at (801) 676-2520 or email us at 20hour@MortgageEducators.com.

 

 

 

 

Everything You Need To Know About The SAFE Test

So you're in the process of getting your NMLS license. You know the states you are getting licensed in, you've found the company to operate and originate loans under, you've taken your 20 hour course and now, it's time for testing. But what is the SAFE test like, exactly? How difficult is the test? How many questions? 

 

Undoubtedly you have plenty of questions about the SAFE test and you want to make sure that you are as prepared as possible for it. This page will answer any questions that you have about the test and make sure you are on the right track to passing it with flying colors!

 

How do I know what test I should be taking?

The SAFE has made testing a lot easier in the past few years. There is only one test required nationally for all MLOs. 

 

If you are getting licensed in Minnesota or West Virginia, you will need to take an additional state test. You can find additional test prep materials for those states Prometrics NMLS Test Page.

 

How many questions are on the SAFE test?

There are 125 multiple choice questions on the test, 115 of which are scored. Those 10 unscored questions will not count either for you or against you. 

 

How should I be studying for the SAFE test?

Mortgage Educators offers a SAFE test prep course that is included with all 20 hour pre-licensing courses. If you did not take your 20 hour course with MEC, you can purchase that test prep course separately. MEC recommends a minimum of 20 hours of SAFE test studying once the 20 hour course has been completed to ensure full comprehension. 

 

IMPORTANT: Take into account that the SAFE test is very difficult. The mortgage industry is a large one, with lots of information for the NMLS to pull test questions from. Expect questions that you may not know the answers to because you have not been exposed to them yet. That is expected. Mortgage education companies are given a basic outline for what could be on the test and build their test prep courses off of that. Just study the study guide included with your 20 hour SAFE course as best as you can and answer the questions to the best of your ability.

 

Where do I take my test?

The SAFE test is administered in a Prometric testing location. These testing locations can be found all over the country and are strategically placed to provide accessible testing for everyone. 

 

How do I sign up for my test?

The first step in getting signed up for the SAFE test is to pay for the test. You will pay for the course on the NMLS website.

 

1. Log in to your NMLS account and click on the NMLS Navigation tab on the left side of the screen.

 

2. On the NMLS Navigation page, click the MLO Testing & Education button.

 

3. On the MLO Testing page, click Pay for a Test.

 

4. This will bring you to a page where you will select the testing that you will be adding to your cart. Click Select by State and on the following screen, select the states in which you are getting licensed. Click the checkmarks next to the tests and add them to your cart.

 

5. Once these courses are added to your cart, you will need to read and sign the Candidate Agreement. 

 

6. Once the Candidate Agreement is accepted, you will be brought to the Pay Invoice screen. You can pay for your course with a credit card or through a bank account.

 

My course is paid for, now what?

Now that your course is paid for, it's time to schedule your test. Visit the Prometrics NMLS Test Page and click Schedule My Test. Click Next and agree to the Privacy Policy.

 

1. Fill in the Eligibility Information boxes with your NMLS ID, first name and last name.

 

2. On the next screen, select which test you will be taking. Most loan officers will only select the SAFE MLO Test option. Click Next. 

 

3. Now you will search for a testing center. Search an address to find the nearest testing center to that location.

 

4. Select the date and time for your test. 

 

5. Fill in any additional information needed from Prometric. 

 

6. Verify the appointment and complete the scheduling.

 

PRO TIP: PRINT OUT YOUR CONFIRMATION and take it with you to the testing center.

 

What should I take with me to the testing center?

You will need to take a form of official ID that includes your name, signature and a recent photo. This includes: valid driver's license, passport, or military ID card. The name on your ID MUST MATCH the name that you used to schedule your test. Any other items that you bring with you to the testing center much be stowed in a locker.

 

Do I need to be early to the testing center?

You should plan to be at the testing center 30 minutes prior to your testing time. This will allow you plenty of time to complete all check-in procedures. You will be photographed at the testing center. IF YOU ARRIVE LATE YOU WILL NOT BE ALLOWED TO TAKE YOUR TEST.

 

 

 

 

 

 

 

 

 

NMLS License California: How to Get Your Mortgage Loan Originator License

 

Please Note that although the California Department of Business Oversight (CA-DBO) has recently been replaced by the California Department of Financial Protection and Innovation (CA-DFPI), none of the educational requirements to get your Mortgage Loan Originator License have been affected. Thank you for your patience as we work to comply with the rebranding adjustments. If you plan on registering under the new CA-DFPI, please purchase and take the CA-DBO pre-licensing course requirements below.

 

CA-DFPI Pre-Licensing Courses

Starting at: $399 Now Only $239.99!

Use Coupon Code: CADFPI

 

 

Add CA-DFPI Elective

Now Only $49.98!

Use Coupon Code: CAPE49

 

 

CA-DRE Pre-Licensing Courses

Starting at: $349 Now Only $239.99!

Use Coupon Code: CALPE 

 

How to Get an NMLS Mortgage License in California

Does a career as a mortgage loan officer sound great to you? Mortgage Educators and Compliance (MEC) is here to help you become a mortgage loan officer (often also called a mortgage loan originator or MLO). We will help you register with the nationwide multistate licensing system (NMLS), complete your pre-license NMLS approved education according to national and CA-DFPI license requirements, and pass your NMLS mortgage licensing exam. By the time you’re done with our six-step process, you’ll be ready for your mortgage career.

1. Apply for your NMLS Account and ID Number

The first step of mortgage licensing for all California mortgage loan originators is to access the nationwide multistate licensing system (NMLS) to set up an NMLS account and get an NMLS ID. To do so, go to the NMLS website.

 

2. Complete your NMLS Pre-License Education

Once you’ve visited the NMLS website and received your NMLS ID, you will need to complete a required 20-hour SAFE pre-license course which is NMLS approved. You will also need to complete any additional work from the California state licensing agencies: the CA-DBO (which as mentioned above has been renamed) and the California Department of Real Estate (DRE). This must be done before you are able to become licensed. See California’s pre-license education requirements for more info.

 

3. Pass the NMLS California Mortgage License Exam

With your NMLS approved education courses and all California-specific requirements completed, you will need to schedule an appointment for the National Test Component exam as the NMLS doesn’t hand out mortgage licenses to any aspiring mortgage loan officer without a passing score of 75% or higher. The mortgage licensing exam isn’t an easy one, as roughly 58% of first-timers don’t pass, but MEC is here to help you pass on that first try. Find out more on how to take your NMLS exam here.

 

4. Apply for your California MLO Mortgage License

After receiving a passing score on your NMLS mortgage licensing exam, you will need to apply for your NMLS License. You can learn more about applying through the DFPI here or through the DRE here.

 

5. Complete Background Checks and Pay All Fees

To finalize your application and receive your license, you will need to pay several non-refundable fees, go through a criminal background check, and a credit report check. Find out more about how to complete your background check and fingerprints here.

 

6. Once Completed, Associate your NMLS Account with your Employer

At this point, you will receive your license in California, but it cannot be used until you have employer sponsorship from the mortgage company, bank, or credit union of your choice. This employer sponsorship lets the government know that an employer is supervising your individual mortgage loan originator license. Check out our guide on how to associate your NMLS account with your employer.

  

 

CA-DBO vs. CA-DFPI vs. CA-DRE

There are two separate licensing divisions in California. One is the California Department of Financial Protection and Innovation (CA-DFPI), which replaced the CA-DBO. The other is the California Department of Real Estate (CA-DRE). These two agencies differ in how much mortgage pre-license education you need to receive before you can get licensed as an MLO.

Mortgage Educators & Compliance provides course bundles that satisfy the mortgage pre-license education requirements in California, regardless of which license you will be applying for. To determine which license you need, please watch our video on the differences between the two divisions. For additional help, we recommend contacting your chosen or sponsoring employer or contacting one of our licensing specialists today, as you must both be licensed under the same agency. If you don’t have a sponsor yet, use the following to determine which agency to select:

Active CA real estate licensees or those who are looking to work in both real estate and residential mortgage loan origination will select the CA-DRE

Those who are not CA real estate licensees or who are not looking to obtain a real estate license (basically anyone planning to operate only under a residential mortgage lending license) should select the CA-DFPI.

 

 

Get Your License Faster With Our Live Classroom Courses

We are excited to offer courses that fulfill your agency-specific NMLS training requirements with live classrooms. These courses are an expedited option for those trying to obtain an NMLS license in California. Our industry-leading experts, who have years of experience with residential mortgage loans and California finance law, will provide best-in-class support to help you pass the NMLS national exam. Click here for our current live classroom location schedule.

Why Obtain Your Loan Officer License in California?

California’s housing market, which continues to grow year after year, is one of the strongest in the nation. Obtaining your California mortgage loan originator license takes determination, a willingness to learn, business sense, and a strong work ethic. After completing the required mortgage training courses, you will need to pass the national exam. To solidify your chances of passing the national exam first try, consider our test prep course. Once you’ve passed the national test, you’ll be well on your way to obtaining your mortgage license!

Cost to Get your Mortgage License in California

When you're ready to get your NMLS mortgage license in California, be prepared to pay the following fees:

 

$30 - NMLS Initial Processing Fee

$300 - License/Registration Fee

$15 - Credit Report

$36.25 - FBI Criminal Background Check

What is PE Expiration Policy?

PE Expiration is a policy that was created by the NMLS Policy Committee that addresses situations where pre-licensure education expires. It states that if an individual fails to acquire a valid mortgage license within three years from the last date of licensure as a mortgage loan originator, that individual is required to retake 20 hours of pre-licensure education. Because the policy is currently pending enactment, it is currently not enforced but will be rolled out soon.

Are California Broker Licenses and Loan Originator Licenses The Same?

Mortgage loan originators and mortgage brokers are commonly confused terms. As such, many people who are searching for a broker license are actually looking for a California mortgage loan originator or loan officer license.

So what’s the difference? Generally speaking, a mortgage broker is a company that employs a team of loan officers. Loan officers originate mortgage loans for new home buyers. Therefore, the correct license for a loan officer in California would be one of the options listed above, depending on which division your employer works under. Note that if you do want to work in real estate, you must receive a real estate license and apply through the CA-DRE.

 

 

Additional Questions?

Mortgage Educators and Compliance is here to answer any additional questions that you may have in regards to your California mortgage license. For additional questions, feel free to call us at (801) 676-2520 or email us at 20hour@MortgageEducators.com.