Archive for April, 2010

Are you one of the 37,000?

April 29, 2010

The SAFE Test has two components – national and state. All state licensed MLOs must pass the National Component of the SAFE Test by a date determined by your state regulator (see SAFE Deadlines by State). For steps on taking the test, go to NMLS: Testing. To see what topics are covered on the test, look at the National Component Content Outline.

The current pass rate on the National Test is 67%. Anyone who fails the test must wait 30 days before retaking the test (see Test Retake Policy).

So far, over 37,000 MLOs have passed the National Component.  Are you one of the 37,000?

Welcome to the Countdown!

April 28, 2010

The passage of the SAFE Act in 2008 began a period of change in the licensing landscape. Most of the changes instituted by SAFE are becoming a reality in 2010. A number of states have already had deadlines for compliance, and the remaining states will follow with compliance deadlines this summer and fall. This blog has been created to help Mortgage Loan Originators, and their companies, to stay on top of the compliance countdown.