Monthly Archives: August 2014

Keep Abreast of States Adopting the Uniform State Test


On September 2, 2014, New York will become the next state to adopt the Uniform State Test (UST). Ohio, Connecticut, and Oklahoma will then follow soon after. NMLS approved course providers are encouraged to keep abreast of which states are adopting the UST and to update any course material accordingly. Adoption information is posted on the testing page of NMLS Resource Center. Additionally, we have received several course submission with incorrect test retake information.   As a reminder, an individual who attempts to take the test and fails to achieve a passing score of at least 75% must wait 30 days before they are allowed to retake the test. An individual may take the test a total of three (3) times before the SAFE Act requires the individual to wait 180 days before attempting it again. Detailed information about the MLO SAFE Test is available in the MLO Testing Handbook.

Reminder Regarding Developing CE Courses – Don’t Repeat PE


NMLS is currently reviewing a large number of continuing education courses. As we go through the review process we’re noticing that course providers are including information in CE that is essentially a repeat of the pre-licensure education. For example, we are seeing CE courses restating SAFE Act education requirements, information on the state agency, and state licensing requirements. This type of information is contained in state-specific pre-licensure education and is not appropriate for CE.  NMLS approved course providers are reminded that guidance on the development of CE is posted in the course provider section of the NMLS Resource Center.  Questions concerning CE requirements may be addressed to Jessica Ayton.

Are You Ready to Begin Teaching the New Integrated Disclosure Forms?


Effective August 1, 2015 MLOs will be required to begin using the new Integrated Mortgage Disclosure Forms. The forms are a requirement of the Dodd-Frank Act and combine certain disclosure that consumers receive in connection with applying for and closing on a mortgage loan under Regulation Z and Regulation X. The CFPB published final rules pertaining to the integrated disclosures on November 20, 2013.

Examples of the disclosures, detailed explanations on how to use them, and comparisons between the old and new forms are also available on the CFPB’s web site. Course providers are strongly encouraged to begin familiarizing themselves with the CFPB’s final rule on the new disclosures and the forms themselves so that they can provide instruction on them prior to the 2015 implementation date.

Reminder to RSVP for Course Provider Webinar on Wednesday


This is a reminder that NMLS will host a conference call and webinar with approved course providers to review Education Management System (EMS) functionality and best practices prior to the 2014 / 2015 renewal season on Wednesday, August 13 from 2-3 pm ET.

This webinar is ideally suited for course provider who do not use the EMS very often and/or who may need a refresher on how to make full use of the system’s functionality.  Topics to be covered will include EMS basics, credit banking, payment invoicing, and how to respond to student questions.  Organizations wishing to participate need to RSVP to Mike Bray (mbray@csbs.org) no later than August 11.  Call-in details and a link for the webinar will be sent on August 12.  If you have already responded there is no need to again.

Webinar for NMLS Course Providers on Aug 13


NMLS will host a conference call and webinar with approved course providers to review EMS functionality and best practices prior to the 2014 / 2015 renewal season on Wednesday, August 13 from 2-3 pm ET.  A variety of topics will be covered including EMS basics, credit banking, and common problems.  Organizations wishing to participate in the session are requested to respond to Mike Bray (mbray@csbs.org) no later than August 11.  Call-in details and a link for the webinar will be sent on August 12.