Loan Originator Licensing

//Loan Originator Licensing

Assists a consumer in obtaining or applying to obtain a residential mortgage loan.

16 04, 2020

Loan Originator License Temporary Authority

April 16th, 2020|FAQ, Loan Originator Licensing, Mortgage Licensing News, NMLS|

Temporary LO Authority went into effect on 11/24/2019. It gives the Loan Originator 120 days from when they apply and obtain Temporary Authority to complete Education and Testing while still being able to originate loans. The State may allow you to gather required documents during that time as well; however, some states may take away [...]

4 03, 2015

Mortgage Loan Originator License Education

March 4th, 2015|Education, Loan Originator Licensing, Mortgage Licensing News|

When the SAFE Act was passed by the US Congress in 2008, it mandated that all States require that Mortgage Loan Originators meet certain minimum requirements to obtain and maintain a Mortgage Loan Originator License. Once of those requirements was Pre-License Education and Continuing Education. The SAFE Act mandated 20 hours of Pre-License Education in [...]

3 07, 2014

Choosing an NMLS Mortgage License Education Course Provider

July 3rd, 2014|Education, Loan Originator Licensing, Mortgage Licensing News|

Every Mortgage Loan Originator licensed in the United States must complete Pre-License Education in order to obtain a license and Continuing Education each year in order to renew the license. There is a federal mandate that each state require at least 20 hours of Pre-License Education and at least 8 hours of Continuing Education each [...]

23 06, 2011

Florida In-House Processors no longer need LO Licensing

June 23rd, 2011|Loan Originator Licensing, Mortgage Licensing News|

Florida law previously required persons acting solely as loan processors to secure a loan originator license. On May 31, the Governor of Florida signed into law a bill to relieve in-house loan processors from individual licensing in Florida. Specifically, the bill excludes in-house loan processors from individual licensure, so long as the individual (i) is [...]

14 06, 2010

Hawaii delays NMLS Mortgage Company and LO Licensing

June 14th, 2010|Loan Originator Licensing, Mortgage Licensing News|

Hawaii has Amended the SAFE Act Compliance Legislation and extended the Deadline for Mortgage Loan Originator Registration. On May 7, the Governor of Hawaii, Linda Lingle, signed into law legislation (S.B. 2603) to amend Hawaii's Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act) compliance law, which was passed last year. The new law [...]

5 05, 2010

SAFE Mortgage Licensing Act

May 5th, 2010|Loan Originator Licensing, Mortgage Licensing News, NMLS|

The SAFE Mortgage Licensing Act (Title V of P.L. 110-289, the Secure and Fair Enforcement for Mortgage Licensing Act of 2008) was signed into law in July 2008. It requires every loan originator taking a residential mortgage loan application from a consumer to obtain a mortgage loan originator (MLO) license from the State Agency in [...]

4 05, 2010

California DRE now requires Mortgage Loan Originator Endorsement through NMLS

May 4th, 2010|Loan Originator Licensing, Mortgage Licensing News|

California Department of Real Estate now requires Salespersons and Brokers to obtain an endorsement to their license through the NMLS if they want to use their license to originate residential mortgage loans. By January 31, 2010, or within 30 days of commencing the activity whichever is later, all licensees must report to the Department of [...]

6 11, 2009

Illinois Requires Licensing of Mortgage Loan Originators

November 6th, 2009|Loan Originator Licensing, Mortgage Licensing News|

Illinois passed a bill requiring the licensing of loan originators. Under the bill, mortgage loan originators and loan processors of underwriters acting as independent contractors must obtain a license under the Residential Mortgage License Act of 1987, unless exempt. The bill also establishes loan originator requirements with respect to education, exemptions, fees, renewals, bonds and [...]

5 11, 2009

Maryland NMLS-Approved SAFE Mortgage Loan Originator Test Available

November 5th, 2009|Loan Originator Licensing, Mortgage Licensing News, NMLS|

We are pleased to announce that NMLS-approved SAFE mortgage originator test components – both the national and the Maryland component – are now available for enrollment and scheduling. The first test appointments for the Maryland component will be available on October 22nd. The national component has been available since July 30, 2009. Registration is now [...]