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4 03, 2015

Mortgage Loan Originator License Education

March 4th, 2015|Education, Mortgage Licensing News|

When the SAFE Act was passed by the US Congress in 2008, it mandated that all States require that Mortgage Loan Originators meet certain minimum requirements to obtain and maintain a Mortgage Loan Originator License. Once of those requirements was Pre-License Education and Continuing Education. The SAFE Act mandated 20 hours of Pre-License Education in [...]

3 07, 2014

Choosing an NMLS Mortgage License Education Course Provider

July 3rd, 2014|Education, Mortgage Licensing News|

Every Mortgage Loan Originator licensed in the United States must complete Pre-License Education in order to obtain a license and Continuing Education each year in order to renew the license. There is a federal mandate that each state require at least 20 hours of Pre-License Education and at least 8 hours of Continuing Education each [...]

11 10, 2011

What Types of Mortgage Company Licenses Are Available in California

October 11th, 2011|Mortgage License, Mortgage Licensing News|

Before discussing how to get a California Mortgage Company License, we need to first discuss what type of mortgage license you should get. There are three (3) different types of Mortgage Company Licenses offered in California. The Bureau of Real Estate offers the California Bureau of Real Estate (BRE) Corporate License with the Nationwide Mortgage [...]

27 06, 2011

Texas Mortgage Servicer Licensing now required

June 27th, 2011|Mortgage Licensing News, Mortgage Servicer Licensing|

On June 17, Texas Governor Rick Perry signed into law S.B. 17, the Residential Mortgage Loan Servicer Registration Act, which requires all residential mortgage loan servicers in Texas to register with the Commissioner of the Texas Department of Savings and Mortgage Lending (Commissioner). The Mortgage Servicer Registration is required for companies acting purely in a [...]

23 06, 2011

Florida In-House Processors no longer need LO Licensing

June 23rd, 2011|Loan Originator Licensing, Mortgage Licensing News|

Florida law previously required persons acting solely as loan processors to secure a loan originator license. On May 31, the Governor of Florida signed into law a bill to relieve in-house loan processors from individual licensing in Florida. Specifically, the bill excludes in-house loan processors from individual licensure, so long as the individual (i) is [...]

23 06, 2011

Montana Mortgage Servicer Licensing now required

June 23rd, 2011|Mortgage Licensing News, Mortgage Servicer Licensing|

On May 5, 2011, Montana adopted House Bill No. 90, which made numerous revisions to the Montana Mortgage Broker, Mortgage Lender, and Mortgage Loan Originator Licensing Act (Act) and changed its title to the Montana Mortgage Act. The revisions included requirements for the licensing and regulation of mortgage servicers. The effective date of the changes [...]

14 06, 2010

Hawaii delays NMLS Mortgage Company and LO Licensing

June 14th, 2010|Loan Originator Licensing, Mortgage Licensing News|

Hawaii has Amended the SAFE Act Compliance Legislation and extended the Deadline for Mortgage Loan Originator Registration. On May 7, the Governor of Hawaii, Linda Lingle, signed into law legislation (S.B. 2603) to amend Hawaii's Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act) compliance law, which was passed last year. The new law [...]

14 06, 2010

Colorado Mortgage Companies must now be Licensed

June 14th, 2010|Mortgage License, Mortgage Licensing News|

Colorado now requires Mortgage Companies to be licensed by the state. On May 26, 2010, Colorado Governor Bill Ritter, Jr. signed a bill (H.B. 10-1141) that (i) creates a new state mortgage regulatory division, the Board of Mortgage Loan Originators, and (ii) establishes registration deadlines for mortgage loan originators and mortgage companies via the Nationwide [...]

5 05, 2010

SAFE Mortgage Licensing Act

May 5th, 2010|Loan Originator Licensing, Mortgage Licensing News, NMLS|

The SAFE Mortgage Licensing Act (Title V of P.L. 110-289, the Secure and Fair Enforcement for Mortgage Licensing Act of 2008) was signed into law in July 2008. It requires every loan originator taking a residential mortgage loan application from a consumer to obtain a mortgage loan originator (MLO) license from the State Agency in [...]

4 05, 2010

California DRE now requires Mortgage Loan Originator Endorsement through NMLS

May 4th, 2010|Loan Originator Licensing, Mortgage Licensing News|

California Department of Real Estate now requires Salespersons and Brokers to obtain an endorsement to their license through the NMLS if they want to use their license to originate residential mortgage loans. By January 31, 2010, or within 30 days of commencing the activity whichever is later, all licensees must report to the Department of [...]