NMLS approved course providers are advised that State-Specific Education Notices have been posted for the District of Columbia and Kentucky.
NMLS publishes Education Notices to inform providers of state-specific course content requirements and to provide an agency-approved references list. Courses are approved in accordance with the requirements in the Notice. The Education Notices are on a two year review cycle (the first one was published in 2013); however, a state-agency may request a change to their notice at any time. NMLS intends to have an education notice for all 28 agencies that currently have a state-specific requirement by the end of the year.
All current Education Notices are available on the policy page of the course provider section of the NMLS Resource Center.
NMLS has initiated a job analysis study on the role of a mortgage loan originator (MLO). The job analysis is part of a process to ensure the validity of the SAFE MLO National Test with Uniform State Content and is completed every 4-6 years. The study is a standard practice in the testing industry to ensure that licensure or certification exams are testing areas of knowledge that best relate to the tasks of a given profession.
To gain input into this study from the industry, NMLS is inviting state-licensed mortgage loan originators (MLOs) to complete a survey to provide feedback on the SAFE MLO National Test. An email regarding the survey and its purpose is being sent to all state-licensed MLOs this week. The survey can be accessed here. Responses are due by May 29, 2015.
Questions about the job analysis study may be directed to Matt Comber at firstname.lastname@example.org.
Yesterday the CFPB released an update to its Supervision and Examination Manual on mortgage examination procedures. There was also an April 1 update to the RESPA and TILA disclosures which will become applicable for exams initiated after the integrated disclosures become effective August 1.
The Supervision and Examination Manual describes how the CFPB supervises and examines companies it oversees. The manual and updates are available on the CFPB’s web site.