Description
Package
content and courses
State Requirements
This package includes 20 hours of Pre-Licensing education required to become a mortgage loan originator (MLO), as well as Exam Prep Edge to help you pass your exam, an eTextbook, and credits for your first renewal package!*
Individuals who wish to become a mortgage loan originator (MLO) are required to complete 20 hours of pre-licensing education, in accordance with the SAFE Act, which includes:
- Three hours on federal mortgage-related laws
- Three hours on ethics
- Two hours on non-traditional mortgage products
- 12 hours of electives
This course fulfills the SAFE Act requirement and provides a comprehensive introduction to the principles and practices of mortgage lending. In addition to the required core topics, the course will focus on content areas appearing on the SAFE MLO Test:
- Uniform state content
- General mortgage knowledge
- Mortgage loan origination activities, including loan inquiry and application process requirements, qualification, closing, and financial calculations
The course brings the content to life through a variety of videos and activities allowing students to learn the content, discuss it with an instructor and other students, and apply it to a range of exercises, real-life scenarios, and case studies.
This package also includes access to Residential Mortgage Lending Principles and Practices, 7E, an eTextbook full of great information on the mortgage loan industry. You will have access to this eTextbook including benefits such as sharable notes, flashcards, and study guides for one year.
*Includes 8 Hour SAFE Comprehensive: 2022 Mortgage Loan Originator Course.
Package Content:
20 Hour SAFE Comprehensive: Mortgage Loan Originator Pre-Licensing Course
Individuals who wish to become a mortgage loan originator (MLO) are required to complete 20 hours of pre-licensing education, in accordance with the SAFE Act, which includes:
- Three hours on federal mortgage-related laws
- Three hours on ethics
- Two hours on non-traditional mortgage products
- 12 hours of electives
This course fulfills the SAFE Act requirement and provides a comprehensive introduction to the principles and practices of mortgage lending. In addition to the required core topics, the course will focus on content areas appearing on the SAFE MLO Test:
- Uniform state content
- General mortgage knowledge
- Mortgage loan origination activities, including loan inquiry and application process requirements, qualification, closing, and financial calculations
The course brings the content to life through a variety of videos and activities allowing students to learn the content, discuss it with an instructor and other students, and apply it to a range of exercises, real-life scenarios, and case studies.
Students enrolled in this online instructor-led have their course start date plus 12 full calendar days to the complete the course. Students are expected to begin the course on their selected start date, follow the course schedule as outlined in the syllabus, and complete the course on the course end date.
Residential Mortgage Lending: Principles and Practices, 7th Edition (eTextbook)
This book is organized into three parts: Principles, Programs, and Practices, building on the basics to the actual practice of residential lending. No prior knowledge of finance or mortgage lending is needed. As the last decade was a period in which the United States economy and its mortgage industry slowly transitioned out of the Great Recession and into a period of recovery and expansion, significant updates have been made to show where we’ve been and where we are today.
Updates include:
- New discussion on living trusts, appraisal management and current issues, mortgagor’s title insurance policy, and loss mitigation
- The addition of more than 84 new charts and graphs to illustrate the main points
- A comprehensive case study for the practice of mortgage lending by using a unified set of origination, processing, underwriting, and closing forms that lenders actually use.
Upon purchase, you will have access to this title for 365 days.
SAFE Mortgage Loan Originator Exam Prep Edge
This program covers the content areas tested on the SAFE MLO Test:
- Federal Mortgage Related Laws
- Uniform State Content
- General Mortgage Knowledge
- Mortgage Loan Origination Activities
- Ethics
Exam Prep Edge is an intuitive online study experience that will help you gain the edge in passing your exam and getting your mortgage career off to the right start. It provides you with the opportunity to prepare for your exam with the following benefits:
Take an initial assessment and receive immediate feedback on the topics you’ve mastered and the ones you still need to work on.
Improve your practice exam scores by studying individual lessons by subtopics from the Test Content Outline.
We believe practice makes perfect. That’s why we provide dynamic practice exams with unique questions to get you ready for your upcoming exam. You are able to review your results from each attempt and hone in on those areas where you feel like you are particularly strong and those where there is opportunity to improve.
Our real-time dashboards guide you through each topic while gauging your competency so you know what to concentrate on before exam day.
Learn more about the SAFE MLO Test by clicking here to go to the NMLS website.
State Requirements
For Arkansas
Arkansas Requirement Detail for Mortgage Pre-Licensing Education
Hours Required by the State: 20
- 3 hours of federal law
- 3 hours of ethics
- 2 hours of non-traditional mortgage lending
- 12 hours of electives
Seat Time: Seat time will be enforced and our online course delivery system manages this requirement
NMLS ID Registration: The NMLS system is used to process MLO licensing requests for all 50 states. A unique NMLS ID is required to report all course completions. Creating an account and obtaining an ID number is a simple process that can be completed here.
Licensing Exam: The licensing exam is administered by NMLS. Registration for the licensing exam is an entirely separate process from your course final exam. For instructions to register for your licensing exam and further information, please click here.
Provider Approval # 1405076
The CE Shop's Offering: 20 hours
Final Exams: Final exams must be passed with a minimum score of 70% and may be taken a maximum of 3 times.
Course Completion Reporting: Mortgage course completions are reported to the Nationwide Multistate Licensing System. A unique NMLS ID is required to report course completions. The CE Shop will report your course within 7 calendar days.
Expiration Date of course:
National Pre-Licensing courses have a specified start and end date and are instructor-led. Students must select their course start date within 90 days of purchase. Once the start date has been selected students will have that day plus an additional 12 full calendar days to complete their course.
State-specific Pre-Licensing courses, where required, must be completed within 90 days from the date of purchase. After licensing, licensees will be required to complete Arkansas Mortgage Continuing Education requirements.
