NMLS SAFE ACT Training
OverviewIndecomm-Mortgage U was the first NMLS education provider approved by the State of Michigan under the Loan Officer Registration Law. A leader in NMLS approved training; we offer an exceptional, timely and relevant learning experience in both Live and Self-Paced Online formats. We recognize your need to focus on learning the real world of mortgage originating and preparing for the NMLS Mortgage Loan Originator pre-license test.
NMLS Pre-Licensure TrainingWe conduct the 20 hour loan officer pre-registration course and subsequent update seminars in various formats and locations. Our 20 Hour Safe MI Comprehensive Mortgage Loan Originator course is approved to meet all federal Pre-licensure education requirements. All participants of the 20 Hour Safe MI Comprehensive Mortgage Loan Originator course receive:
Find out more or register now 20 Hour MI SAFE Comprehensive Mortgage Loan Originator
NMLS SAFE ACT Continuing Education TrainingIndecomm-Mortgage U offers NMLS approved live and self-paced online courses to earn the 8 hours of continuing education as required under the SAFE Act. While NMLS issues the approval it is individual state law that dictates the actual number of hours a loan originator must complete. Some states require more than 8 hours of education. Refer to the NMLS State Specific Education Requirements for state required education.
The following courses fulfill the 8 hour requirement for:
– 8 Hour SAFE Comprehensive CE – Felonies, GFEs and FHAs – Course ID 3053
– 8 Hour SAFE Comprehensive CE – Felonies, GFEs and FHAs – Course ID 3012
– 8 Hour SAFE Comprehensive CE – 2011 – Course ID 2750Visit our Course Roster for Details and Sign up for our Newsletter to find out about upcoming classes.
Loan Originator Licensee Requirements – Federal SAFE ACT Requirements
If you are a NEW Loan Officer
Requirements for Loan Originators at Depository InstitutionsLoan originators at depositories must be registered with NMLS but are not required to be licensed.
Registration requirements are:
Definition of Originator“To negotiate, arrange, or offer to negotiate or arrange a mortgage loan between a mortgage lender and 1 or more individuals”, or “to place, assist in placing, or find a mortgage loan for 1 or more individuals”.
This definition is very broad and includes anyone involved in providing more than just basic information about mortgage lending. The definition is not meant to include processors. However, in Michigan a person who is a contract processor or underwriter must be licensed under the law.
Retake PolicyThe Retake Policy is designed for individuals who had difficulty in absorbing all the information in the class and need to attend again, in a timely manner, in order to understand the information that was presented. It is not designed for “Refreshers”. Individuals can retake the same class at no additional charge if the request is made within ninety days. Registrant must retake the class within six months from the call (or the next time the class is offered). Registration (or the “seat) is not guaranteed unless the student wishes to pay again and is subject to rescheduling if the class sells out. The student will need to wait until the next available date. No materials are to be given. If a retake request is made after ninety days from class date, attendee must pay ½ of cost of class to retake it and will then receive the current course materials.