Official NMLS Course Provider Newsletter

Implementation of Effective Dates for Test Components

NMLS — Tue, 10 Jan 2012 13:28:03 +0000

To:          NMLS Approved Course Providers
From:    Anne Altman, Sr. Manager, Mortgage Testing Program
Date:     January 9, 2012

Subj: Implementation of Effective Dates for Test Components

Overview – On January 9, 2012 the State Regulatory Registry LLC (SRR) will begin implementing the use of “Effective Dates” for selected SAFE MLO Test Components. After carefully reviewing its test maintenance policies and procedures, SRR determined that this practice would benefit candidates and SAFE MLO Test stakeholders. The remainder of this memo provides more information about the practice and its implementation.

Implementation – “Effective Dating” refers to the practice of assigning a test component an effective date which will communicate to test candidates and other interested parties the currency of legislation which is used to determine the content of test questions. For example, candidates taking the National Component of the SAFE MLO Test on and after January 9, 2012 will see that the “Effective Date” of that component is December 8, 2011. This communicates to candidates that the content of test questions will reflect statutes, regulations and rules which were in effect on or prior to the effective date. If statutes, regulations and rules change after December 8, 2011, the test questions will not reflect these changes and candidates should answer questions based on the statutes, regulations and rules which were in effect on or before December 8, 2011.

The “Effective Dating” practice will be applied to selected test components and then gradually applied to all test components over time. The National Component of the SAFE MLO Test will be the first component to receive an Effective Date, which will be December 8, 2011. Candidates taking that component on or after January 9, 2012 will see the effective date notice as part of the Rules of Conduct notice which candidates are required to acknowledge before starting to answer test questions.

The effective date and the related notice also will be applied to the content outline which accompanies each test component. The Resource Center, where the content outlines are posted, will include a new table which lists the effective dates, if applicable, for the various test components. Here is a link to the Resource Center displaying the content outline of the National Component of the SAFE MLO Test and the new table.

The effective date for each test component will remain in effect until a new effective date is published.

Impact on Candidates and Course Providers – Once fully implemented, we believe the effective dating practice will benefit candidates and course providers alike. As candidates prepare for a test with an effective date, they will know how current any given test component is regarding statutes, regulations, and rules which affect the test content. However, it is important to emphasize, that candidates are still responsible for knowing current statutes, regulations and rules regardless of the effective date of any given test component. Likewise, the material and instruction which course providers offer in their NMLS approved courses must include the most up-to-date information on statutes, regulations, and rules even if a test component may have an older effective date.

Until a test component carries an effective date, candidates and course providers should assume that the test content reflects current statutes, regulations, and rules.

Summary – In your role as NMLS Approved Course Providers, licensure candidates often rely on your organizations and instructors for valuable guidance and assistance as they prepare to take the SAFE MLO Test components. We believe the new “Effective Dating” process will benefit candidates and course providers. If you have questions about this process, please contact me at aaltman@csbs.org. Thanks for your cooperation and support.

Invitation to Attend NMLS Annual Conference and Training Feb 6-10, 2012

NMLS — Tue, 03 Jan 2012 16:11:48 +0000

The Nationwide Mortgage Licensing System & Registry (NMLS) will be hosting the fourth annual NMLS Conference & Training for regulatory and industry system users, education providers, consultants, and other interested parties. Designed for both new and experienced users, the conference will provides an invaluable exchange of information on issues of importance to the mortgage industry to include the role of the Consumer Finance Protection Bureau. Of particular interests to course providers, NMLS will discuss the status of the development of the Uniform State Test, provide feedback from the industry about the quality and deliver of online courses, as well as facilitate discussions about how to design and deliver highly interactive courses that will meet regulatory requirements.

Over 400 regulators, mortgage companies and banks attended last year’s conference. This year’s conference is expected to be even larger so interested course providers are encouraged to register and reserve a hotel room soon!

The 2012 Conference will be held at the DoubleTree Paradise Valley, Scottsdale, Arizona. Registration information, a list of speakers, and other conference details, may be found at http://www.cvent.com/events/nmls-annual-conference-training/event-summary-aa8a2684e4fd4d8abb808495c2a879b0.aspx

NMLS Holiday Hours

NMLS — Mon, 12 Dec 2011 21:53:55 +0000

NMLS Holiday Hours

In observance of the holiday season, CSBS/NMLS will be closed the following days:

- Friday, December 23: NMLS Offices will be Closed/NMLS Call Center will be Open*
- Monday, December 26: Closed in Observance of Christmas Day
- Friday, December 30: NMLS Offices will be Closed/NMLS Call Center will be Open*
- Monday, January 2: NMLS Offices Closed in observance of New Years Day

*NMLS education staff members will be monitoring e-mail on both December 23 and 30 to provide support in the event an MLO has an education-related issue pertaining to licensure renewals.

Because of the holiday schedule, course providers with renewals due this month (either provider renewal or course renewals), are strongly encouraged to submit their application forms and pay the fees no later than Friday, December 30th. Any renewal applications submitted after 2pm ET on December 30^th will not be processed until January.

Deadline to Submit Courses for Late CE Catalog is November 30

NMLS — Mon, 28 Nov 2011 21:42:18 +0000

Course providers seeking to participate to in the 2012 Late CE catalog are reminded that the deadline to submit course applications is November 30^th. The 2012 Late CE catalog will be published and made available to MLOs on January 3, 2012.

November Course Provider Renewal Period Closes Wednesday; December Period Opens on Thursday

NMLS — Mon, 28 Nov 2011 21:39:57 +0000

This month’s course provider renewal period is scheduled to close at 11:59pm ET on Wednesday, November 30th, and the December renewal period will open on Thursday. The below listed providers have until December 31 to submit for renewal. In light of the holiday season course providers are strongly encouraged to not wait until the last minute to submit renewal applications. Please also closely review the documentation posted under the Course Provider Section of the Resource Center to ensure they are in compliance with all requirements prior to submitting the application and paying the fees.

Providers Scheduled for Renewal in December:

Gateway Compliance, LLC

Destiny Advisors

aLittleWiser

Tennessee Association of Mortgage Professionals

North Carolina Housing Finance Agency

Mortgage Success Source, LLC

Morton Associates (MAREMI)

New York Real Estate Institute

Chamberlin Real Estate School

The Professional Career Center, Inc.

The Realty Institute

Western NY School of Real Estate

National Association of Professional Mortgage Women

George Weiss Insurance School

Fowler Financial Education and Consulting

The Real Estate School

Kovats Real Estate and Insurane Schools

Greater Rochester Association of REALTORS

Alpha College of Real Estate

Allied Business Schools, Inc.

PorterWorks, Inc.

Elite CME, Inc.

Informed, Inc.

OnlineEd

Andy Gray Schools of Real Estate, Inc.

Accelerated Training Systems

CE State Deadline Reminder

NMLS — Mon, 28 Nov 2011 21:37:49 +0000

For a number of states, the deadline to complete CE is this week!

Georgia: October 31 Passed
District of Columbia: November 1 Passed
Kentucky: November 30
West Virginia: November 30
Delaware: December 1
Iowa: December 1
Kansas: December 1
Puerto Rico: December 1
Vermont: December 1
Idaho: December 15
Washington: December 15

Course providers are reminded they have seven (7) calendar days from the course end date to complete credit banking. Please contact Alan Ridenour (aridenour@csbs.org) or Rich Madison (rmadison@csbs.org) to report any credit banking problems.

State Licensing Report for Q3

NMLS — Mon, 28 Nov 2011 21:35:29 +0000

NMLS has updated the report entitled A Nationwide View on State-Licensed Mortgage Entities to included data for the third quarter of 2011. The report provides aggregated information at a national and state level for companies, branches and individuals licensed or registered by state agencies.

NMLS Thanksgiving Holiday Hours

NMLS — Fri, 18 Nov 2011 17:38:53 +0000

NLMS offices will be closed on Thursday and Friday, November 24 and 25 for the Thanksgiving holiday. Normal office hours will resume on Monday, November 28. We wish the entire course provider community and safe and enjoyable holiday.

2012 Functional Specification for All NMLS Approved Courses Now Available

NMLS — Fri, 18 Nov 2011 17:17:53 +0000

The final functional specification of all NMLS Approved Courses has been posted in the course provider section of the NMLS Resource Center under Notices and Examples. The functional specification includes detailed requirements that must be met for all four course formats which may be employed to deliver NMLS approved education, including classroom courses.

Please Report Course Completions to NMLS as Soon as Possible

NMLS — Tue, 08 Nov 2011 13:00:21 +0000

Course providers are reminded that they have an obligation to report course completions for every MLO who completes a course within 7 calendar days of the course completion. With the annual renewal period open we have received numerous reports of MLOs complaining that their course completion is not in the system. This problem is compounded by the fact that in a majority of states MLOs cannot request renewal unless their record is showing CE compliance. Here are three simple rules for CE:

- Always provide an end-of-course completion certificate for every course completed regardless of classroom format (classroom, webinar, self-study, online PE).

- When provided with an NMLS ID number, credit bank with 7 calendar days (report sooner to avoid calls from anxious MLOs).

- Be aware of the “Successive Years” rule which precludes an MLO from taking the same course two years in a row.

If you need assistance with credit banking please contact either Alan Ridenour (aridenour@csbs.org) or Rich Madison (rmadison@csbs.org).