SAFE Mortgage Education Services Are Launched

  

June 22, 2009

 

 

Summary – The Nationwide Mortgage Licensing System and Registry (NMLS) is very pleased to announce that it is now accepting applications from course providers who wish to offer NMLS-approved courses.  This is another important step in the implementation of testing and education requirements under the SAFE Act.

 

Today two very similar notices to this one were sent to several hundred organizations.  One notice went to state mortgage trade and professional associations and a second notice went to mortgage training and education companies.

 

Interested education providers will go through a two-step process before they can begin offering NMLS-Approved Courses.  The first step, being launched today, requires an organization to submit an application to become an Approved Course Provider (ACP).  Once approved, the ACP can begin to submit course applications for courses to become NMLS-Approved.  Initially, we will be processing course applications only for pre-licensure (PE) courses and later this fall we will begin processing course applications for continuing education (CE) courses.

 

NMLS Resource Center – Associations and organizations that provide mortgage education and are interested in offering NMLS-approved courses, should consult the NMLS Resource Center.  The center is the central point for all education providers to get important information about NMLS testing and education services.  It also includes course provider application information, course approval application information, course format standards, and schedules of fees, timelines, FAQs and the latest news and guidance about SAFE testing and education. 

Click here to go to the NMLS Course Provider page.  After consulting the NMLS Resource Center, course providers will submit their applications through an application maintained by Pearson VUE, the subcontractor to FINRA working on the SAFE testing and education implementation.

 

Coming Up Next - Over the next eight weeks, several other SAFE Act testing and education events are scheduled to be launched.  Within the next couple of weeks we expect to launch the functionality in NMLS for MLOs to enroll and schedule a SAFE test.  That functionality will include regulators’ ability to view MLO test results and PE and CE educational course status.  On or about July 15, we will launch the course approval application process.  On or about July 30, the National Component test and eleven State Component tests (AZ, IA, ID, LA, MA, NH, NC, PA, RI, VT, WA) are scheduled to be available for test-taking.  In early August, Approved Course Providers should be offering a limited number of NMLS-approved pre-licensure courses.  In the fourth quarter, we will begin processing CE course applications.

 

The NMLS Resource Center has been updated to reflect these events.  Click here to go to the home page.