Monthly Archives: June 2012

NMLS Offices Closed July 4


Please be advised that NMLS will be closed next Wednesday, July 4th in observance of Independence Day.  The call center will reopen on Thursday, July 5th.

June Course Renewal Window Closing/July Renewal Period Opens Sunday


Providers with courses up for in June this month have until Saturday at 11:59pm ET to submit the applications and pay the fees. Please note that if a course is not renewed on time, the course will have to be resubmitted as a new course and will it be evaluated accordingly.   The July course renewal period will open on Sunday.  If you do not intend to renew a course please let Alan Ridenour (aridenour@csbs.org) know.

The following courses are up for renewal in July:

2343 8 Hour SAFE Comprehensive: Continuing Education Course
2344 8 Hour GA SAFE Comprehensive: Continuing Education Course
2345 12 Hour MS SAFE Comprehensive: Continuing Education Course
2308 3 Hour SAFE Federal Law Continuing Education – Meet the Consumer Financial Protection Bureau (CFPB) – Creating a Compliance Culture
2309 3 Hour SAFE Federal Law Continuing Education – Meet the Consumer Financial Protection Bureau (CFPB) – Creating a Compliance Culture
2320 1 Hour SAFE Continuing Education – The Valuing the American Dream – Creating a Compliance Culture
2321 1 Hour SAFE Continuing Education – The Valuing the American Dream – Creating a Compliance Culture
2339 7 Hour SAFE Core CE: Lending Integrity in the Dodd-Frank Era – Creating a Compliance Culture
2340 7 Hour SAFE Core CE: Lending Integrity in the Dodd-Frank Era – Creating a Compliance Culture
2341 8 Hour SAFE Comprehensive CE: Lending Integrity in the Dodd-Frank Era – Creating a Compliance Culture
2342 8 Hour SAFE Comprehensive CE: Lending Integrity in the Dodd-Frank Era – Creating a Compliance Culture
2351 1 Hour NC SAFE CE Elective: New Dynamics In State Regulation
2352 1 Hour NC SAFE CE Elective: New Dynamics In State Regulation
2358 1 Hour NC CE Elective – North Carolina Duties, Restrictions and Consumer Protections
2359 1 Hour NC CE Elective – North Carolina Duties, Restrictions and Consumer Protections
1647 1 Hour DC SAFE Methods of Mortgage Practice in DC  _CE Elective
1648 1 Hour DC SAFE Methods of Mortgage Practice in DC  _CE Elective
1649 1 Hour DC SAFE Methods of Mortgage Practice in DC  _CE Elective
1650 1 Hour ID SAFE Methods of Mortgage Practice in Idaho  _CE Elective
1651 1 Hour ID SAFE Methods of Mortgage Practice in Idaho  _CE Elective
1652 1 Hour ID SAFE Methods of Mortgage Practice in Idaho  _CE Elective
1653 3 Hour NY SAFE Methods of Mortgage Practice in New York _CE Elective
1654 3 Hour NY SAFE Methods of Mortgage Practice in New York _CE Elective
1655 3 Hour NY SAFE Methods of Mortgage Practice in New York _CE Elective
1656 2 Hour MS SAFE Methods of Mortgage Practice in Mississippi _CE Elective
1657 2 Hour MS SAFE Methods of Mortgage Practice in Mississippi _CE Elective
1658 2 Hour MS SAFE Methods of Mortgage Practice in Mississippi _CE Elective
1659 8 Hour NC SAFE Comprehensive: Input Knowledge, Output Success
1660 8 Hour NC SAFE Comprehensive: Input Knowledge, Output Success
1661 8 Hour NC SAFE Comprehensive: Input Knowledge, Output Success
1679 1 Hour DC SAFE CE – DC Mortgage Lenders and Brokers Act
2332 8 Hour SAFE Comprehensive: Professional Development Series I
2307 8 Hour AZ SAFE Comprehensive: Key Topics for MLOs
2329 1 Hour AZ SAFE Arizona Law CE for Loan Originators
2360 1 Hour ID SAFE CE – Staying Out of Jail
2350 8 Hour SAFE Comprehensive: Key Topics for MLOs
2354 8 Hour SAFE Comprehensive CE FHA for Originators
2322 8 Hour SAFE Comprehensive: Continuing Education 2011
2325 8 Hour SAFE Comprehensive: Key Topics for MLOs
2311 1 Hour DC SAFE Update:  DC Prohibited Acts and Required Behavior
2313 1 Hour PA SAFE Update:  PA Prohibited Acts and Required Behavior
2314 1 Hour WA SAFE Update:  WA Prohibited Acts and Required Behavior
2315 1 Hour MD SAFE Update:  MD Prohibited Acts and Required Behavior
2336 7 Hour SAFE Core: Update of Continuing Mortgage Education
2346 3 Hour NY SAFE Update:  NY Prohibited Acts and Required Behaviors
2361 1 Hour ID SAFE Update:  ID Prohibited Acts & Required Behavior
2363 1 Hour MA SAFE Update:  MA Prohibited Acts and Required Behavior
1668 1 Hour SAFE CE Credit Reports and Credit Scoring
1669 2 Hour SAFE CE Nontraditional Products: Risk Realities
2312 8 Hour AZ SAFE Comprehensive: Key Topics for MLOs
2364 1 Hour AZ SAFE Arizona Law CE for Loan Originators
2326 8 Hour SAFE Comprehensive Course
2316 11 Hour NY SAFE Comprehensive: Continuing Education 2011
2319 8 Hour MA SAFE Comprehensive: Continuing Education 2011
2328 8 Hour GA SAFE Comprehensive: Continuing Education 2011
2338 8 Hour PA SAFE Comprehensive: Continuing Education 2011
2365 8 Hour SAFE Comprehensive: Key Topics for MLOs
2318 3 Hour SAFE CE:  Federal Law, Regulatory update of Reg. Z
2327 2 Hour MA RI SAFE CE Elective:  State Disclosures for MA and RI
2353 3 Hour SAFE CE NonTraditional VA Financing
1646 3 Hour SAFE Ethics: Ethics, Fair Lending and Fraud
1675 8 Hour SAFE Comprehensive CE: 2011
1691 2 Hour SAFE – Loan Basics
1692 2 Hour SAFE Online – Nontraditional Mortgages ARMs and IOs
1693 3 Hour MA SAFE- Massachusetts State Law
1694 4 Hour SAFE Online PE – Federal Law – Credit and Information
1695 3 Hour SAFE Online PE – Federal Law – RESPA and SAFE
1696 2 Hour IN SAFE PE: Indiana State License Law and Regulations
1697 3 Hour NY SAFE Online PE – New York State Law
1698 4 Hour NJ SAFE Online PE – New Jersey State Law
1699 4 Hour SAFE – Nontraditional Mortgages Overview
1700 4 Hour SAFE Online PE – Federal Law – TILA
1701 5 Hour MD SAFE Online PE – Maryland State Law
1702 3 Hour DC SAFE Online – DC State Law
2303 2 Hour MS SAFE CE – Mississippi Mortgage Licensing Act
2324 2 Hour MS SAFE CE – Mississippi Mortgage Licensing Act
2333 8 Hour SAFE Comprehensive: Key Topics for MLOs
2305 20 Hour SAFE PE Comprehensive Course & Exam Prep
2304 1 Hour SAFE Short Sales and Bank Owned Properties: 2011
2310 1 Hour WA SAFE Mortgage Law
2317 2 Hour SAFE RESPA Compliance
2334 1 Hour AZ SAFE AZ Mortgage Law
2335 1 Hour SAFE Short Sales and Bank Owned Properties: 2011
2337 1 Hour PA SAFE Mortgage Law
2347 8 Hour SAFE Comprehensive Course: 2011
2348 2 Hour SAFE Ethics: Loan Fraud Update: 2011
2349 2 Hour SAFE Nontraditional Mortgage:  Reverse Mortgages: 2011
2355 1 Hour MD SAFE Mortgage Law
2356 1 Hour ID SAFE Mortgage Law Update
2357 1 Hour GA SAFE Mortgage Law
2362 3 Hour SAFE Federal Law Update: 2011
1688 20 Hour MO SAFE Comprehensive: Missouri Prelicense Course
1689 4 Hour MS SAFE: Mississippi Mortgage Laws
1690 4 Hour OH SAFE: Ohio Mortgage Laws
1666 3 Hour RI SAFE:  RI Laws and Regulations
2331 8 Hour PA SAFE Comprehensive: Key Topics for MLOs
2330 11 Hour NY SAFE Comprehensive: Key Topics for MLOs

June Provider Renewal Window Closing/July Renewal Period Opens Sunday


The June course provider renewal period will close this Saturday at 11:59pm ET, and the July renewal period will open on Sunday.  Course providers listed below have until July 31 to pay the fees and submit their renewal applications.  Organizations failing to file for renewal on time will have to apply as a new provider (and currently approved courses will become inactive).  Organizations seeking to renew should closely review the application and other requirements posted under the Course Provider Section of the NMLS Resource Center.  If you do not intend to renew as a provider please let Alan Ridenour (aridenour@csbs.org) know and we won’t send follow-up notices.

Providers schedule for Renewal in July:
411 Mortgage Training
D.W. Moore & Associates, Inc.
Kentucky Housing Corporation
Legends Real Estate School
MCT Mortgage School
HUD/Federal Housing Administration
USDA Rural Development Oregon

NC Modification of Number of Years to Retake MLO SAFE Test


The course provider community is advised that NC has modified the number of years required to retake the MLO SAFE test.  The NC SAFE Act, N.C.G.S Chapters 53-244.050(b)(1)c and 53-244.80(e) had a three year requirement on retaking the MLO SAFE Test after failing to maintain a valid license.  The federal SAFE Act (Section 1505(d)(3)(D)) has a five year requirement.  Pursuant to the authority found in N.C.G.S. 53-244.119(c), the acting commissioner has modified the number of years currently required to retake the MLO SAFE test after failing to maintain a valid license, from three year to five year.  The change was effective June 12, 2012.

May Auditing and Course Performance Dashboard Posted


NMLS has posted the May course audit and course performance dashboard to the course provider section of the NMLS Resource Center under the section titled “important links.”  As stated in the March 22 posting of the Newsletter, NMLS is making available to the course provider community additional information about the number of course audits being performed, major findings associated with those audits, as well as a roll-up dashboard which shows how courses are performing based upon student course completion surveys.  NMLS maintains and shares with every course provider individual scorecards for every course format they have a course approved for.  Providers should compare their individual scores with the overall dashboard information posted in this monthly report.  The report also includes feedback from students about their course experience.

The monthly report may be accessed here: http://mortgage.nationwidelicensingsystem.org/courseprovider/Pages/Resources.aspx

Updated Test Outlines for NE, NC, and SD Posted


The content outlines for the NE, NC, and SD state-components of the SAFE MLO test has been updated and are now available in the NMLS Resource Center.   In addition to showing weighted content domains, the test outline also contains a reference list which may be used by MLOs to help prepare for the test.  The test outlines for each of the three components also have an effective date stamp posted on them (see the Jan 10 posting of the Newsletter for more information on effective date stamping).  The test content outlines can be found on the testing page of the NMLS Resource Center at: http://mortgage.nationwidelicensingsystem.org/profreq/testing/Pages/TestContentOutline.aspx

Reports on the Number of State and Federally Registered MLOs Released


NMLS has posted on the NMLS Resource Center two reports that may be of interest to the course provider community: the Nationwide View of State-Licensed Mortgage Entities and the NMLS Federal Registry Quarterly Report.  Both of these reports are for the first quarter of 2012.

Together, the two separate reports provide for the first time a comprehensive tally of all individuals, residential mortgage companies, and depository institutions authorized under the SAFE Act to originate mortgages in the U.S.

Highlights from the NMLS State-Licensed reports include:

  • 15,883 companies are licensed through NMLS, up 6% from Q1 2011;
  • MLOs totaled 105,595, an increase of 5.5% from Q1 2011;
  • The total number of licenses held by companies increased 12% from Q1 2011 to 31,686; and
  • The number of total licenses held by MLOs increased by 13% from Q1 2011 to 207,187.

Highlights from the NMLS Federal Registry Report include:

  • 94 percent of institutions have MLOs registered in two or fewer states;
  • Only 11 institutions have registered MLOs in 30 or more states
  • The top five federal registered institutions employ more than 130,000 MLOs; more than one third of all registered MLOs; and
  • Federally chartered institutions represent 17 percent of all institutions in the NMLS Federal Registry and employ 59 percent of registered MLOs.

Both reports may be accessed from the News & Events of the NMLS Resource Center at: http://mortgage.nationwidelicensingsystem.org/news/nmlsnews/Pages/default.aspx