Requirements of good laws Compliance with MLOs


The Secure and Fair Enforcement for Mortgage Licensing Act 2008 (called the SAFE Mortgage Licensing Act of 2008) requires a state license mortgage loan originators (MLOs) to fulfill a set of state and federal licensing requirements with the Nationwide Mortgage Licensing System (NMLS). The goal is to reduce fraud, protect consumers and ensure the welfare of the public.

In addition to other requirements, all MLOs need to file Form MU4 through NMLS replaced their state of banking. All MLOs must pass the SAFE mortgage loan originator Test, which consists of two parts: part state and national components. MLOs must pass each part with a score of 75% or higher for renewal in 2011.

Suppose you start working. You’ve talked to your business, determine if you or your company is going to create and send a record in NMLS; and created an account on NMLS. You have exceeded the jurisdiction specific requirements of the state in which you are using NMLS.

There is every state that dictates when a state-licensed MLO must complete pre-licensing or refresher training, go the safe Mortgage Test, and complete source of checks. You should refer to state licensing conditions for information about schedules for completing each of the professional requirements.

Here, the main requirements of the MLO line.

Criminal Background Check

You need to submit fingerprints. NMLS MLO process fingerprints in order to get federal criminal background check (CBC) through the Federal Bureau of Investigation. MLOs may authorize a federal background check as part of the application to one or more countries. The criminal history record information check response from the FBI will be attached NMLS record mortgage originator

Fingerprinting is a four-step process .:

1. Sign on NMLS account and ask federal CBC.

2. Get a PIN.

3. Each State NMLS-approved fingerprint vendors. Make an appointment and have fingerprints taken.

4. Fingerprints are automatically processed, and the results are reported back to NMLS and available to the relevant regulatory authorities.

fees are $ 39.00 (CBC Processing Fee or Paper Card Capture) plus $ 10.00 Field Print Card Packet Fee, a total of $ 49.00.


The SAFE Act requires that state-licensed MLOs complete Pre-licensing Education (PE) and the annual Continuing Education (CE). List of NMLS approved courses offered by approved course providers is available in the Master Course.

Not all courses are available in all regions. If you can not find what you need, check back often and it will be several months before NMLS have courses approved in all states and territories. Many courses are available online.


The MLO Testing Handbook will guide you through online Test. You can download it NMLA Resource Center:

The Guide Reviews all the testing process and can help you as you go through these steps:

1. Select and pay for a test check window.

2. Find infection near you and schedule a test date.

3. Prepare for the test and take the test.

4. View test scores in NMLS.

There are two payments for SAFETY Act mortgage originator Test. Domestic segment is $ 92; and each individual state components is $ 69 (can be, check with your state)

Credit Report

The NMLS says that beginning in 2010, as part of the licensing process, the agency intends to provide functionality within the system to work independently of credit reports the number of notifications Consumer.


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