Monthly Archives: June 2010

Notice Regarding Guidance on Developing CE Courses Posted

NMLS has issued a notice providing guidance on how CE courses should be developed.  The notice is in response to a pattern where a number of courses have been received that are essentially “repackaged” versions of 20 hour pre-licensure courses which have been resubmitted for approval as CE courses with little regard for learning objectives, course rigor, or the SAFE Act’s intent for continuing education.  The result of these “repackaged” courses is that they often end up being a broad survey of federal laws, mortgage programs, and terms and definitions that, because of time limitations, results in various topics receiving only a few minutes of attention.  Accordingly, NMLS is providing guidance regarding the SAFE Act’s intent for requiring continuing education, and for how courses should be structured.  The notice also makes suggestions for course topics as well as recommendations for how to leverage previously approved education.  The document can be found in the course provider section of the NMLS Resource Center under Notices and Examples at:

State-Specific Education Requirements for 2010 CE Posted

NMLS has posted a listing of states that require continuing education (CE) in 2010.  The chart, available under Notices and Examples in the course provider section of the NMLS Resource Center, identifies which states have a CE requirement this year, and includes the number of state-specific  and/or elective hours of education that MLOs are required to complete prior to filing for licensure renewal.  The chart can be accessed by going to:

Functional Spec for Instructor Led Online Courses Updated

The Functional Specification for NMLS Approved Instructor Online-Led Courses has been updated and posted to the NMLS Resource Center.  This latest version of the document (version 2.0) updates section 2.1 related to the use of a Learning Management System, and section 2.2 which discusses the course syllabus. New requirement for course design have been included in Section 3.  Specifically, there is a new requirement to lock modules and control course progression (Section 3.3.2), courses must demonstrate instruction-to-student interaction (Section 3.4), and, prior to final approval the course must go through a technical review process (Section 3.6).   The updated version of the functional spec can be found under Course Approval section on the Course Provider Resource page:

Test Pass Rates for May Posted

NMLS has posted new information pertaining to the pass rate of the MLO SAFE Test to include the pass rate for subsequent re-takes.

As of May 31, 2010:

–   The pass rate for the National Component for first-time test takers is: 71%

–   The pass rate for re-taking the National Component is:  44%

–   The aggregate pass rate for the State Component for first-time test takers is:  79%

–   The aggregate pass rate for re-taking a State Component is: 60%

Additional details about the performance of the National and State Components of the test is available in the NMLS Resource Center at:

Change to WV PE Education Requirements

Effective June 12, West Virginia increased the pre-licensing education requirement for MLOs from 20 hours to 22 hours and specified that two hours of the education must be related to West Virginia mortgage and consumer laws or issues.  NMLS is updating its State Specific Education Requirements chart.  The 8 hour CE requirement with one hour devoted to WV law remains unchanged.

Changes to LA SAFE Law

The Louisiana Legislature recently passed House Bill 335 which updated its SAFE Act requirements.  The changes, which go into effect Aug 15, reduces the number of hours for pre-licensure education from 24 to 20 and removes the requirement for four hours of the education to be NAMB or MBA approved.  Additionally, the law reduces the number of hours of annual continuing education from 10 to eight.

As mentioned, the changes go into effect Aug 15th which means the existing requirements remain in effect until then.

Reminder Regarding Change to Course Renewal Dates

This is a reminder that in April 2010, the SRR Board of Managers approved changing the course renewal schedule from a fixed annual schedule to a rolling one.  The change was made in response to feedback received at the NMLS Users Conference in February that the course renewal process would begin on May 1 for all courses, including those that had not been approved for a full year. In response to the policy change NMLS coordinated with its IT vendor, Pearson VUE, and the PULSE system was reconfigured to switch to a rolling course renewal process.

For providers this means:

–    All courses will be required to be renewed annually during the anniversary month of their initial approval.

–   The renewal dates on most course approval letters reflect the old course renewal date of July 31, 2010.  Because of the policy change, the July renewal date on many approval letters is no longer accurate.  The new renewal date is the one year anniversary month of the course approval date. For example: a course that was approved on December 13, 2009, and the approval letter currently shows a renewal date of July 31, 2010, will now need to be renewed by December 31, 2010.  Please be advised NMLS will not be reissuing new course approval letters.

–    The first renewals for 2010 will begin in August. Starting in early-July, providers who have courses that are due for renewal in August will receive a notice informing them which course(s) need to be renewed.

–    Thinking about what month their courses were approved in and planning accordingly (and for many providers with a lot of courses, this will be a reoccurring, monthly process).

Specific details regarding the renewal process, to include a new User Guide and other forms, will be posted in the NMLS Resource Center in late June.