Monthly Archives: April 2010

WA and ND Test Reference List Posted

The WA and ND state test component outline have been updated with reference lists.  These reference lists are important because they cite many of the resources used in constructing the questions of the tests.  There are 35 test outlines now available on in the NMLS Resource Center at:

Credit Banking Fact or Fiction

FACT: Course providers are totally dependent on the student to provide their correct NMLS ID number in a timely manner.

Explanation:  It is very likely you will encounter students who will be confused about the need to have an NMLS ID number, and many students will claim they don’t have one or will not know what it is.

What to do: Encourage students to provide their NMLS ID number at time of course registration.  If a student does not have an NMLS ID number please instruct them to use the NMLS Quick Guide: Creating an Individual Account and they can generate a number at no costs.  Here is the link for the Quick Guide:

FICTION: A course provider does not have to bank a course if all the students in that course have not provided their NMLS ID numbers.

Explanation: NMLS Standards of Conduct require that credit banking be completed within seven (7) calendar days of the course completion date.  If students have provided their NMLS ID number and completed the course, the course provider must perform the credit banking within the allocated time-frame.  The inability to retrieve a single student’s NMLS ID number should not prevent a provider from uploading the rest of course roster.

What to do: NMLS recognizes that occasionally a student will complete a course without providing their correct NMLS ID number.  In these cases, the provider should complete credit banking for all students that have provided their number and then go back later to perform credit banking for the student(s) who may not have had their number when the course ended.

FICTION: After seven calendar days of the course completion, course providers can no longer bank a student’s credits in the NMLS system.

Explanation: Some providers are under the impression that a credit banking window expires after seven calendar days and as such, they are precluded from performing credit banking for a student who may not have submitted their number on time.

What to do: Course providers can technically credit bank against any completed course at any time.  If a student provides their number late, the course provider should simply follow the same procedures shown in the User Guide: Reporting of NMLS Approved Course Completions.

FACT: If a course provider fails to bank student’s credits in a timely manner, a student’s ability to gain/maintain a license may be hindered.

Explanation: State education deadlines are quickly approaching. A student’s credit must be banked by the state deadline or the individual will be considered to be non-compliant for licensure.  The same hold true for the annual renewal period which runs from November 1 through December 31.

What to do: Understand that as deadlines approach students will begin to get increasingly anxious.  If their course completion is not recorded within the specified timeframe they will begin to call you, NMLS and their state regulator.  Credit banking in a timely manner will help to save everybody a lot of time and frustration.

FACT: Sometimes a student provides the wrong NMLS ID number and credits get banked to the wrong person.

Explanation: While it doesn’t happen very often, it is possible that John Smith could provide the wrong NMLS ID and credits could get banked to Sally Smith.

What to do: If a provider or student suspects that credits were given to the wrong person, do not attempt to perform credit banking again.  Simply provide the details, to include names, the NMLS ID numbers, the course number, and the end date to Alan Ridenour ( and he will coordinate correcting the problem.

IN, AR, and NE Test Reference Lists Posted

The IN, AR, and NE state test component outline have been updated with reference lists.  These reference lists are important because they cite many of the resources used in constructing the questions of the tests.  There are 35 test outlines now available on in the NMLS Resource Center at:

Information Regarding the Certification Process Posted

The State Regulatory Registry LLC (SRR) Board of Managers has approved policies which will allow MLOs to be able to use their previously completed education or state test results to satisfy selected state and SAFE Act requirements.  This process is referred to as the testing and certification process or simply “certification.” Details about the certification process, which states are participating in it, information on the process, the timeline, and additional FAQ’s can be found here:

Errata Available for Hondros Learning Text and NY State Supplement

Hondros Learning has released errata for the National Mortgage Lending Principles & Practices (3rd Edition) text as well as for the New York state-specific supplement.  The errata contain several updates to the text as well as to the PowerPoint slide presentations.  Course providers who are using Hondros material are responsible for ensuring they have the most up-to-date information.  For more details see:

Updated Test Performance Information Available

New pass-rate numbers are available for the SAFE MLO test: the pass rate for the National Test Component is 67%; the aggregate state test pass rate is 74%.  The percentages include all tests taken between July 30, 2009 and March 31, 2010. Additional information including the number of test components taken and passed is available at:

New SAFE MLO Test Components to be Released April 12

On Monday, April 12th NMLS is deploying new state test components for Connecticut, Illinois, Ohio, Oklahoma, and North Dakota.  Visit the testing page of the NMLS Resource Center to view the Content Outlines and find other information about how your students can enroll for the tests: