Monthly Archives: June 2015

New Ed Notice Published for OK; Requirement for Classroom CE Every Two Years Removed


NMLS approved course providers are advised that a State-Specific Education Notice has been posted for Oklahoma.  Additionally, OK-DOCC has informed NMLS that in accordance with 59 O.S. § 2095.6, the requirement to complete annual continuing education (CE) in a classroom setting at least every two (2) years is removed effective November 1, 2015.

NMLS publishes Education Notices to inform providers of state-specific course content requirements and to provide an agency-approved references list.  NMLS intends to have an education notice for all 29 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.

New National Test Content Outline Posted


NMLS has posted the new National Test Content Outline.  The test content outline reflects changes coming to the test as a result of the TILA-RESPA Integrated Disclosure Rule (TRID) and the results of the recently completed job analysis survey.  The updated National Test with Uniform State Content will go live on Saturday, October 3, 2015.

NMLS will conduct a webinar with course providers in the coming weeks to explain the changes.  In the meantime, please refer to the NMLS Resource Center Content Outline Page for links to both the current outline and the outline that will be in effect on October 3rd.  If you have any questions, contact Matt Comber at mcomber@csbs.org.

Arizona Education Requirements Unchanged


NMLS received several inquiries today regarding Arizona’s education requirements. NMLS has been in contact with AZ-DFI and confirmed requirements have not changed. Per ARS 6-991.03 and R20-4-1302, Arizona requires 20hrs of PE to include 4hrs of state-specific. The PE must be completed during the three-year period immediately preceding the time of application.

For licensure renewal AZ-DFI requires 8hrs of CE to include 1hr of state-specific education.

What may be confusing some course providers are the requirements for state-specific education, which have been in effect for many years as part of rule-making, will become part of statute effective July 3, 2015.

AZ-DFI will also adopt the Uniform State Test (UST) on July 15, 2015.

CFPB Now Proposes Oct 3 Implementation Date for TRID


The following was posted on the CFPB’s web site today:

The Consumer Financial Protection Bureau (CFPB) today issued a proposed amendment to the Know Before You Owe mortgage disclosure rule, which proposes to move the rule’s effective date to October 3, 2015. The rule, also called the TILA-RESPA Integrated Disclosure rule, requires easier-to-use mortgage disclosure forms that clearly lay out the terms of a mortgage for a homebuyer. The Bureau is issuing the proposal to correct an administrative error that would have delayed the effective date of the rule by at least two weeks, until August 15 at the earliest.

The CFPB is proposing a new effective date of Saturday, October 3. The Bureau believes that moving the effective date may benefit both industry and consumers with a smoother transition to the new rules. The Bureau further believes that scheduling the effective date on a Saturday may facilitate implementation by giving industry time over the weekend to launch new systems configurations and to test systems. A Saturday launch is also consistent with existing industry plans tied to the original effective date of Saturday, August 1.

Inclusion of Instructors in New Course Offerings Begins Tomorrow


Following-up on the training NMLS provided last week, this is a reminder that the EMS will be unavailable from 5pm-7pm ET tonight for system maintenance. Starting tomorrow all new course offerings set-up in the EMS will need to identify who the instructor is (existing offerings will not have to be modified). Also effective tomorrow, if we already have the instructor resume on file course providers will no longer need to upload the resume every time they submit a course for approval.  The goal of the new functionality is to reduce the providers’ burden of posting resumes for every course application and renewal.  Going forward, instructor resumes are to be posted in the “Course Provider” folder in Basecamp along with all the other organizational documents.

Next Week is the Deadline for ROC Integration into All Online Courses


The is a reminder that the effective date for the Rules of Conduct (ROC) for Students are to be integrated into online courses is next Wednesday, July 1. FAQs on the ROC and how they need to be administered is posted the course provider page of the NMLS Resource Center.

New Education Notices Posted for ID and MA


NMLS approved course providers are advised that State-Specific Education Notices have been posted for Idaho and Massachusetts.

NMLS publishes Education Notices to inform providers of state-specific course content requirements and to provide an agency-approved references list. Additional notices are currently in review for Oklahoma and New York and we hope to have them published within the next couple of weeks. NMLS intends to have an education notice for all 29 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.