The Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act) established requirements for the licensing and registration of all Mortgage Loan Originators (MLOs). MLOs who work for an insured depository or its owned or controlled subsidiary that is regulated by a federal banking agency or an institution regulated by the Farm Credit Administration are exempt from the education and testing requirements. All other MLOs need to be licensed by the state, complete the education requirements, and pass the state and national SAFE exams. Learn more: NMLS Website

In order to meet the pre-licensing education requirements, state-licensed Mortgage Loan Originators (MLOs) must complete 20 hours of NMLS approved education.

20-Hour Example*:

• 3 hours of federal law and regulations
• 3 hours of ethics, which includes instruction on fraud, consumer protection, and fair lending issues
• 2 hours of training related to lending standards for the nontraditional mortgage product marketplace
• 12 hours of undefined instruction on mortgage origination

Learn more: NMLS Website

*some states vary on the hour requirements.

For annual continuing education*, the SAFE Act requires state-licensed MLOs to complete:

1. 3 hours of Federal law and regulations;
2. 2 hours of ethics that shall include instruction on fraud, consumer protection, and fair lending issues;
3. 2 hours of training related to lending standards for the nontraditional mortgage product market; and
4. 1 hour of undefined instruction on mortgage origination.

Learn more: NMLS Website
*may also include state specific content

For your state specific Mortgage Licensing requirements, please visit the NMLS Website – State Licensing Requirements