Mortgage Training Program Update
Raleigh Regional is working on becoming an NMLS Approved Education Provider!
Approval for NMLS 20 Hour Pre Education Classes Now Underway!
Raleigh Regional is working on becoming authorized to provide NMLS education, which are programs that satisfy federally mandated mortgage pre-licensing and mortgage continuing education requirements for loan originators. The NMLS education requirement is outlined in the 2008 Secure and Fair Enforcement for Mortgage Licensing Act (S.A.F.E. Act).
As an approved NMLS mortgage education provider, Raleigh Regional will be able to offer onsite courses for the federal S.A.F.E. Act. The S.A.F.E .Mortgage Licensing Act establishes minimum standards for mortgage pre-licensing and mortgage continuing education, among other licensing requirements. A 20-hour pre-licensing and an 8-hour annual continuing education requirement are the minimums now set for every state.
If we receive NMLS course approval, this 20-hour pre-licensing programs, will include:
Approval for NMLS 20 Hour Pre Education Classes Now Underway!
Raleigh Regional is working on becoming authorized to provide NMLS education, which are programs that satisfy federally mandated mortgage pre-licensing and mortgage continuing education requirements for loan originators. The NMLS education requirement is outlined in the 2008 Secure and Fair Enforcement for Mortgage Licensing Act (S.A.F.E. Act).
As an approved NMLS mortgage education provider, Raleigh Regional will be able to offer onsite courses for the federal S.A.F.E. Act. The S.A.F.E .Mortgage Licensing Act establishes minimum standards for mortgage pre-licensing and mortgage continuing education, among other licensing requirements. A 20-hour pre-licensing and an 8-hour annual continuing education requirement are the minimums now set for every state.
If we receive NMLS course approval, this 20-hour pre-licensing programs, will include:
- 20 Hour Achieving Mortgage Excellence SAFE Comprehensive and 20 Hour Applying Mortgage Knowledge to Exam Preparation SAFE Comprehensive
North Carolina
Pre-Licensure Education Requirements
New state-licensed MLOs are required to complete 24 hours of NMLS-approved education. This education must include 3 hours of Federal law, 3 hours of ethics (which shall include fraud, consumer protection, and fair lending issues), 2 hours of non-traditional mortgage lending, 12 hours of undefined education (referred to as electives) + 4 hours of NC law. Number of hours is 3/3/2/12/+ 4hrs of NC law = 24
North Carolina has a requirement for 4 hours of instruction on state-specific law which may be satisfied by either taking a NC comprehensive course or a state-specific elective course. Note: PE must be completed within 3 years of a new or subsequent license application.
Continuing Education Requirements
Every state-licensed MLO (in any approved status) is required to complete at least 8 hours of NMLS approved education annually beginning the year they are licensed (unless PE was completed in the same year). Annual CE education must include 3 hours of Federal law, 2 hours of ethics (which shall include fraud, consumer protection, and fair lending issues), and 2 hours of non-traditional mortgage lending, plus 1 hour of NC-specific education. Number of hours is 3/2/2/ + 1hr of NC law =8
MLOs are advised that to comply with the SAFE Act’s "successive years" rule, they may not take the same CE course two years in a row.
Am I required to take Continuing Education this year?
If I completed SAFE Act PE in 2009, 2010, 2011, 2012, 2013 or 2014 and I was licensed in 2009, 2010, 2011, 2012, 2013, 2014 or 2015
am I required to complete CE in 2015 ?
YES
If I completed SAFE Act PE in 2015 and I was approved for an initial license in 2015 am I required to complete CE in 2015
No
Pre-Licensure Education Requirements
New state-licensed MLOs are required to complete 24 hours of NMLS-approved education. This education must include 3 hours of Federal law, 3 hours of ethics (which shall include fraud, consumer protection, and fair lending issues), 2 hours of non-traditional mortgage lending, 12 hours of undefined education (referred to as electives) + 4 hours of NC law. Number of hours is 3/3/2/12/+ 4hrs of NC law = 24
North Carolina has a requirement for 4 hours of instruction on state-specific law which may be satisfied by either taking a NC comprehensive course or a state-specific elective course. Note: PE must be completed within 3 years of a new or subsequent license application.
Continuing Education Requirements
Every state-licensed MLO (in any approved status) is required to complete at least 8 hours of NMLS approved education annually beginning the year they are licensed (unless PE was completed in the same year). Annual CE education must include 3 hours of Federal law, 2 hours of ethics (which shall include fraud, consumer protection, and fair lending issues), and 2 hours of non-traditional mortgage lending, plus 1 hour of NC-specific education. Number of hours is 3/2/2/ + 1hr of NC law =8
MLOs are advised that to comply with the SAFE Act’s "successive years" rule, they may not take the same CE course two years in a row.
Am I required to take Continuing Education this year?
If I completed SAFE Act PE in 2009, 2010, 2011, 2012, 2013 or 2014 and I was licensed in 2009, 2010, 2011, 2012, 2013, 2014 or 2015
am I required to complete CE in 2015 ?
YES
If I completed SAFE Act PE in 2015 and I was approved for an initial license in 2015 am I required to complete CE in 2015
No
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