Monthly Archives: October 2011

Annual Licensing Renewal Period Begins Tomorrow


The 2011 renewal period opens tomorrow and will run through December 31.  Please be advised, however, that a few states have a CE deadline earlier that the standard December 31 deadline. These states include:

Georgia: Today – October 31!
District of Columbia: Tomorrow – November 1!
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

The State-Specific Education Requirements Chart (dated October 12, 2011) lists the education requirements for every mortgage licensing agency.  The charts are available in the NMLS Resource Center .

Please note that a majority of states are taking advantage of NMLS functionality which prevents an MLO from submitting for renewal until they have completed their annual CE.  So while NMLS policies allow for up to seven (7) calendar days from the course end date to report course completions, you can avoid increasing your call volume by credit banking as soon as possible.  Please also remember to issue always issue a course completion certificate (this is an NMLS requirement for all classroom formats).

CE Course Completions: October 30, 2011


Number of Hours of CE Completed: Approximately 470,763 hours of CE has been completed equating to 58,845 MLOs or about 69% of the estimated 85,000 MLOs who are expected to complete CE in 2011. This is an increase of 22% since September 30.

 
NMLS will report PE and other numbers later in the week.

Monthly Course Renewal Window Opens Tuesday, November 1


The following courses are up for renewal; providers have until 11:59pm ET on November 30 to submit the course renewal application and pay the fees:

101 Mortgage Training

1844

101 Mortgage Training

1871

Advanced Education Systems LLC d/b/a TrainingPro

1173

Advanced Education Systems LLC d/b/a TrainingPro

1174

Advanced Education Systems LLC d/b/a TrainingPro

1175

Allied Business Schools, Inc.

1887

AllRegs

1851

AllRegs

1866

AllRegs

1867

AllRegs

1879

AllRegs

1880

AllRegs

1881

AllRegs

1882

AllRegs

1883

AllRegs

1884

AllRegs

1893

Arizona School of Real Estate & Business

1200

ASB/RES, LLC d/b/a American School of Business

1178

Association of Mortgage Educators

1861

Association of Mortgage Educators

1864

Association of Mortgage Educators

1865

Association of Mortgage Educators

1894

AVIONCE INSTITUTE OF MORTGAGE BANKING

1193

Champions School of Real Estate LTD

1182

D.W. Moore & Associates, Inc.

1878

Easy Loan Officer License Training Incorporated

1890

Easy Loan Officer License Training Incorporated

1891

Financial Strategies Mortgage, Inc.

1194

Financial Strategies Mortgage, Inc.

1853

Financial Strategies Mortgage, Inc.

1854

Financial Strategies Mortgage, Inc.

1855

Financial Strategies Mortgage, Inc.

1862

Financial Strategies Mortgage, Inc.

1876

Financial Strategies Mortgage, Inc.

1877

Florida Association of Mortgage Brokers, Inc.

1849

George Weiss Insurance School

1845

Host Group Real Estate, LLC.

1204

Ivy National Institute of Real Estate

1187

Larson Educational Services

1181

LoanOfficerSchool.com

1863

Michigan Institute of Real Estate

1198

Mortgage Bankers Association

1190

Mortgage Bankers Association

1195

Mortgage Bankers Association of Alabama

1860

Mortgage CE & Pre-Licensing Education LLC

1873

Mortgage Success Source, LLC

1875

Mortgage Trainers of North America

1848

Mortgage Trainers of North America

1869

Mortgage Training Specialists

1872

MortgageEducation.com

1191

MortgageEducation.com

1192

MortgageEducation.com

1196

MortgageEducation.com

1197

MortgageEducation.com

1841

MortgageEducation.com

1842

MortgageEducation.com

1843

MortgageEducation.com

1847

MortgageEducation.com

1868

MortgageEducation.com

1885

MTI Services Corporation

1858

New England Mortgage Education Council

1186

New York Association of Mortgage Brokers

1856

OnlineEd

1888

Praedo Institute

1852

ProSchools, Inc.

1184

ProSchools, Inc.

1188

ProSchools, Inc.

1189

ProSchools, Inc.

1850

ProSchools, Inc.

1870

ProSchools, Inc.

1886

ProSchools, Inc.

1889

ProSchools, Inc.

1892

Real Estate Education Center

1846

Rhode Island Mortgage Bankers Association (RIMBA)

1874

Texas Mortgage Bankers Association

1176

The Dares Institute, LLC

1859

Western States School of Banking

1857

Oct Course Provider Renewal Period Closes Monday; Nov Renewal Period Opens Tuesday


This month’s course provider renewal period is scheduled to close at 11:59pm ET on Monday, October 3, and the November renewal period will open on Tuesday.  The below listed providers have until November 30 to submit for renewal.  Providers scheduled for renewal are encouraged to 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 November:
Arizona Association of Mortgage Brokers
American Mortgage Education
Brodsky School of Real Estate
Complete Mortgage Training School
Lee Institute Inc.
Success By Design, LLC

Draft Update to Functional Specification for Course Formats Posted


NMLS has posted for comment a draft copy of the updated functional specification for all course formats in the course approval section of the NMLS Resource Center. As previously mentioned, we are sensitive to the fact that when we make changes to the functional specifications it has an impact on the provider community since changes have to be made to courses that are either in development or have been previously approved (since they need to be brought into compliance). To try and make this process easier, all three previous specifications have been consolidated into one document and we’re moving to an annual update cycle. What this means is that barring any unforeseen circumstance, we intend to only release updates to the functional specification in October with an effective date of January. This timeframe was chosen since we’ve observed that most providers make changes to their courses in the first and second quarters of each calendar year to ensure courses are approved and ready in time for the licensing renewal period which begins to pick up pace in the third quarter and reaches its peak in the fourth quarter.

The reason for making changes to the functional specifications is to provide more specific details/clarifications about how courses are to be configured, and in some cases, to address questions/concerns raised by the industry, regulators, and the course provider community. As previously stated, the document posted in the resource center is a draft document. Course providers are invited to submit constructive comments, questions, and/or recommendations to Rich Madison, Sr. Director, Mortgage Education (rmadison@csbs.org) by October 28.

NMLS Functional Specifications Annual Review Update


As mentioned in the Newsletter Sept 28, 2011, NMLS is updating the functional specifications for all classroom formats. The purpose of the update is to provide more specific details/clarifications about how courses are to be configured and to address concerns raised by the industry, regulators, and the course provider community.  An issue that has surfaced most recently pertains to the timing mechanism in online CE courses, specifically, the ability of a student to “challenge a course” by rapidly progressing through course content.    Course providers have been asked to address this problem and the updated functional specification details greater requirements to prevent this type of problem in the future.  A draft of the functional specification will be shared with course providers on October 17.

NMLS Closed Columbus Day


NMLS will be closed on Monday, October 10th in observance of Columbus Day.