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IN ASSOCIATION WITH REAL ESTATE TRAINERS
DRE Statutory Sponsor No. S0204
Keller Williams Silicon City
www.kwsiliconcity.com
Tam Quach 408-888-8138
DRE Statutory Sponsor No. S0204
Keller Williams Silicon City
www.kwsiliconcity.com
Tam Quach 408-888-8138
In order to become a licensed Mortgage Loan Originator you must complete 20 hours of NMLS-approved basic education and pass the SAFE MLO Test (state-specific requirements vary). See the "License Requirements" at the bottom of this page for more detailed information. NMLS Course Provider #1400593
All course material is included will be shipped to you ahead of time. You will receive all information and instructions about your course by email (this may take a few business days). We recommend enrolling at least one week in advance to allow time for shipping.
All course material is included will be shipped to you ahead of time. You will receive all information and instructions about your course by email (this may take a few business days). We recommend enrolling at least one week in advance to allow time for shipping.
20 Hour Mortgage Loan Originator SAFE Comprehensive COURSE
This course satisfies the requirements set forth by the Secure and Fair Enforcement Mortgage Licensing Act for a comprehensive 20-hour prelicensing course for mortgage loan originators. This course covers topics required by the SAFE Act: Federal lending legislation (3 hrs), ethics (3 hrs), and nontraditional mortgage products (2 hrs). Also included are 12 hours of electives on key concepts, including financial disclosure, privacy protection, consumer I.D., and predatory lending protection laws; government loan programs; the SAFE Act; financial calculations; conventional loans and financing; loan processes, products, and finance instruments; and the Uniform State Test.
NMLS Course ID# 12855
2 HOUR CALIFORNIA SPECIFIC REQUIREMENT:
MLOs in the state of California will be regulated either by the CA-DFPI (California Department of Financial Protection and Innovation) or the CA-DRE (California Department of Real Estate). The CA-DFPI requires that its MLOs complete 2 hours of California specific material, the CA-DRE does not. If you are a Salesperson or Broker licensed under the DRE, this 2 hour requirement does not apply to you. If you are confused about which agency your license will fall under, visit the NMLS website for more information.
NMLS Course ID# 12855
2 HOUR CALIFORNIA SPECIFIC REQUIREMENT:
MLOs in the state of California will be regulated either by the CA-DFPI (California Department of Financial Protection and Innovation) or the CA-DRE (California Department of Real Estate). The CA-DFPI requires that its MLOs complete 2 hours of California specific material, the CA-DRE does not. If you are a Salesperson or Broker licensed under the DRE, this 2 hour requirement does not apply to you. If you are confused about which agency your license will fall under, visit the NMLS website for more information.
HOW THE COURSE WORKS:
This is a classroom equivalent course held live online via Zoom Meeting.
This is a classroom equivalent course held live online via Zoom Meeting.
- Saturday, 8:30am-5:00pm
- Sunday, 8:30am-5:00pm
- Monday, 5:00-9:00pm
- Have a webcam and microphone for this course
- Provide a copy of your photo ID before the start of the class
- Be present (logged in) for the entire length of the course
- Adhere to the to the Rules of Conduct as specified by the NMLS
- Provide us with your NMLS ID# (Reference the NMLS Individual-Account-Quick-Guide for instructions on obtaining an NMLS ID#.)
MLO Crash Course
The MLO Crash Course is designed to prepare students with the knowledge needed to pass the National Test with Uniform State Content, which is mandated by the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act). Up-to-date content, taught by seasoned mortgage professionals, includes topics as required by the SAFE Act: federal mortgage-related laws, general mortgage knowledge, mortgage loan origination activities, ethics, and uniform state content.
Includes:
- 2-day webinar course hosted by a live instructor
- Attend unlimited times within one year!
- MLO Refresher physical textbook
- 800 online practice questions
MLO LICENSE REQUIREMENTS
If you intend to originate residential loans in the U.S., you will have to comply with Federal Law. If you intend to originate residential loans in California, you will have to comply with both Federal and California State law.
If you intend to originate loans as a loan officer for an insured depository institution such as a bank, savings & loan, or credit union, you will be federally registered, but not state licensed. You will be required to obtain a unique identifier number with the Nationwide Mortgage Licensing System & Registry (NMLS) for accountability purposes, but you will not be required to pass a test or take pre-licensing education. Consult with your employer about how to proceed.
If you intend to originate residential loans in California without working for an insured depository institution, you need the educational services we provide. You will be required to obtain a unique identifier number with the Nationwide Mortgage Licensing System & Registry (NMLS) for accountability purposes If you work as a Consumer Finance Lender (CFL) or a Mortgage Banker, you will answer to the California Department of Financial Protection & Innovation (DFPI). If you originate loans as a Mortgage Broker, or under the supervision of a Mortgage Broker, you will answer to the Department of Real Estate (DRE).
Working under the oversight of the DFPI or DRE, you must complete at least 20-hours of pre-licensing education before receiving your Mortgage Loan Origination (MLO) designation. You must also pass a challenging National Test with a score of 75% or better. Click here to visit the NMLS Getting Started page for more information.
If you intend to originate loans as a loan officer for an insured depository institution such as a bank, savings & loan, or credit union, you will be federally registered, but not state licensed. You will be required to obtain a unique identifier number with the Nationwide Mortgage Licensing System & Registry (NMLS) for accountability purposes, but you will not be required to pass a test or take pre-licensing education. Consult with your employer about how to proceed.
If you intend to originate residential loans in California without working for an insured depository institution, you need the educational services we provide. You will be required to obtain a unique identifier number with the Nationwide Mortgage Licensing System & Registry (NMLS) for accountability purposes If you work as a Consumer Finance Lender (CFL) or a Mortgage Banker, you will answer to the California Department of Financial Protection & Innovation (DFPI). If you originate loans as a Mortgage Broker, or under the supervision of a Mortgage Broker, you will answer to the Department of Real Estate (DRE).
Working under the oversight of the DFPI or DRE, you must complete at least 20-hours of pre-licensing education before receiving your Mortgage Loan Origination (MLO) designation. You must also pass a challenging National Test with a score of 75% or better. Click here to visit the NMLS Getting Started page for more information.