NMLS 20 Hour SAFE Comprehensive Online Pre-Recorded New License Course Only
NMLS 20 Hour SAFE Comprehensive Pre-licensure Course Bundle
NMLS Course ID #18657
NMLS Provider ID #1400062
NMLS courses are not formatted to work properly on mobile devices.
* Adding State Electives may incur additional fees *
This course may only be started Tuesday through Friday between 9:00 AM and 5:00 PM CT. The course cannot be started on Saturday, Sunday, or Monday, or outside of those hours. Once started, you may continue and complete the course at any time, including evenings and weekends.
Assignments are graded Monday through Friday, 9:00 AM – 5:00 PM CT. Assignments submitted after 5:00 PM CT will be graded the next business day. No grading is done on weekends or US Holidays. Ensure your 14-day completion window includes enough time for all assignments to be graded before expiration.
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Add Additional State Electives from the "Select State" Drop Down Menu. CLICK HERE TO SEE IF YOUR STATE HAS ADDITIONAL REQUIREMENTS. Your state elective will be automatically loaded into your account after purchase.
Course Credit Submission to the NMLS
The NMLS requires that education providers report education credit hours within 7 calendar days of course completion. Mortgage Educators & Compliance aims to report your online education credits faster than the 7 day window.
Course Information
This course meets the required 20 hours of NMLS-approved pre-license education needed to obtain a Mortgage Loan Originator license. It contains 3 hours of Federal Law, 3 hours of ethics, 2 hours of non-traditional mortgage lending, plus 12 hours of undefined electives.
It is presented in an online instructor-led video course with supplementary literature and content. The course is made up of 6 chapters broken into 5 minute sections that require clicking to advance to the next video and includes a handful of small quizzes. After completing the introduction to the course, each section will start with an average duration of 5 minutes per section. Each 5 minute section will be followed by an activity. These activities can be either short quizzes or case studies focusing on certain concepts. There are also 5 short-response homework assignments that will be turned in to the instructor for a grade.
At the end of each chapter, there is a chapter quiz, with an End of Course Assessment at the end of the course. Students must complete all videos, quizzes, assignments, and the End of Course Assessment in order to receive credit for the course. After completing the course, students will receive a certificate of completion and their hours will be submitted to the NMLS within 7 calendar days.
Learners are expected to complete the course, including all required assignments and grading, within the access period. If the course is not completed before the access period expires, a course reload fee equal to 40% of the original purchase price will apply to restart.
NMLS SAFE 20 Hour Pre-License Course Outline
Chapter 1: Becoming an MLO
This chapter covers the basics of becoming a mortgage loan originator and presents a brief history of the industry to help new students better understand the mortgage industry. Also introduced in this chapter is prohibited MLO conduct and possible disciplinary action.
Chapter 2: Learning the Products and the Programs
This chapter covers the major products and programs available in the mortgage market today, definitions of basic terminology associated with the mortgage products and programs, as well as products and programs that work for specific types of borrowers.
Chapter 3: Initial Application
This chapter covers the first crucial part of the origination process as specifically for MLOs. This section will help you get the answers that you need to help your borrowers discover their best loan options that they need for their given situation.
Chapter 4: Processing and Underwriting
This chapter will help you to understand the analysis process of a borrower's application, walk you through identifying key laws that govern product and program analysis, appraisals, title reports, and title insurance.
Chapter 5: Closing and Funding
This course chapter will help you to identify the role of the settlement agent/closing agent, relate the process for funding, understand the documents in the mortgage closing process, and apply the mortgage math processes to actual mortgage scenarios.
Chapter 6: Mortgage Ethics
This chapter will help you understand the idea of ethics, identify major fraud schemes, UDAAPS, describe ways to ensure fair lending and restate prohibited practices in origination.
End of Course Assessment
Take the final two case studies of the course, and the 25 question End of Course Assessment will test your understanding of the course.