Leawood, KS (PRWEB) July 30, 2010
This July many states have deadlines of July 30 or July 31 for mortgage loan originators (MLO) to be fully compliant with the S.A.F.E. Act. It requires MLOs to meet pre-licensing education, testing and background check requirements by the deadline in order to continue working as loan originators.
Smart Grasshopper Learning and Professional Development (http://www.smartgrasshopper.com) is an online resource for S.A.F.E. MLO test preparation and pre-licensing online courses.
Smart Grasshopper online offers courses through a partnership with the Association of Mortgage Educators (NMLS Provider ID# 1400214). These courses are built on more than 30 years of experience in the real estate, appraisal, and mortgage education markets. The courses are developed by seasoned industry experts and experienced instructional designers and fully approved by the Nationwide Mortgage Licensing System (NMLS).
The following states have deadlines at the end of July:
Twenty-three more states have deadlines before the end of December. However, many deadlines vary by state and previous qualifications. Be sure to confirm all SAFE Act requirements with your state regulatory agency or the Nationwide Mortgage Licensing System Registry.
According to the NMLS, this deadline could impact more than 69,000 mortgage loan originators. MLOs who do not pass the National and State test components before their state deadline risk having their license terminated.
The S.A.F.E. Act also requires 8 hours of CE annually and the following mandated topics: 3 hours of federal law and regulations, 2 hours ethics, 2 hours of lending standards for non-traditional loans, and 1 hour of elective credit.
About Smart Grasshopper Learning and Professional Development:
Smart Grasshopper Learning and Professional Development provides online courses built on more than 30 years of experience in the real estate, appraisal, and mortgage education markets. These courses are developed by seasoned industry experts and experienced instructional designers. Our instructor-led pre-licensing online courses are fully approved by the NMLS. For more information visit http://www.smartgrasshopper.com.