What is the NMLS?
The Nationwide Multi-State Licensing System and Registry (“NMLS”) was created as a licensing and registration resource for prospective and current licensees along with consumers to use when searching for a mortgage company
The required education must be completed through a NMLS accredited or approved provider. The most popular and common format for pre-license courses is online instructor led.
Our course program organizer MEC -Mortgage Educators and Compliance has been an approved education provider with the NMLS since 2009 (Provider #1400062 which can be verified on the NMLS approved provider list). MEC passes thousands of students each year through the 20 hour education course and the national exam. MEC not only delivers updated and relevant content but has instructors that are currently in the mortgage industry to help you become the mortgage professional you want to be. We include our test prep course to help you pass the national exam on the first try. Customer service is our first priority and our online courses are easy to navigate providing you a start to finish positive learning experience.
What Education do I need for my state?
All states require a minimum of 20 Hours of NMLS-approved, pre-license education. Many states require additional state-specific elective hours. Please reference the NMLS’s state-specific education chart to verify your state’s requirements. The minimum pre-license education for new mortgage loan originators is outlined in the SAFE Act as follows:
• 3 hours of federal laws and regulations
• 3 hours of ethics and fraud
• 2 hours of lending standards related to non-traditional mortgage
• 12 hours of undefined instruction on mortgage origination products
How is the Course Structured?
20 Hour Online Course Content Online :
Chapter 1…………………………………………..Becoming an MLO
Chapter 2……………….Learning the Products and the Programs
Chapter 3…………………………………………….Initial Application
Chapter 4……………………………..Processing and Underwriting
Chapter 5…………………………………………Closing and Funding
Chapter 6……………………………………………..Mortgage Ethics
End of Course Assessment
Each chapter has several sections.
Each section includes a five-minute video and a one question quiz to test comprehension.
These courses are offered on a 5 or 12 Day Track.
The courses need to be completed within the designated timeframe
What do I need to know to pass the National Exam?
There is plenty to know about to be prepared for the National Exam. Visit our Test Prep page for more information.