WHAT YOU NEED TO KNOW BEFORE YOU RENEW YOUR MORTGAGE LOAN ORIGINATOR LICENSE

Today, the Nationwide Mortgage Licensing System & Registry (NMLS) sent a reminder about mortgage loan originator license renewals. Most state regulators will prevent MLOs from submitting their renewal application if they have not completed their annual continuing education. Although course providers are encouraged to credit bank as soon as possible, many providers may take as long as SEVEN days to report a course completion. When selecting a CE course, ask the provider about its course reporting policy and when you should expect your credits to be banked with NMLS.

According to NMLS, it takes 24 hours for a course completion to be recognized in NMLS and for the system to recognize an MLO is eligible for renewal. MLOs are strongly encouraged not to wait until the last minute to complete their CE requirement.

NMLS has issued the following renewal guidelines:

  • Smart Deadline: Courses reported to NMLS by Friday, December 21
  • At Risk to Miss Renewal: Courses reported to NMLS by Friday, December 28
  • Guaranteed to Miss Renewal: Courses reported to NMLS on Monday, December 31

Real Estate Institute offers NMLS-approved 8-hour SAFE Comprehensive CE courses. Choose a convenient format: Self-Paced Online, Live Class or Live Webinar. Course completions are reported within ONE business day.

One thought on “WHAT YOU NEED TO KNOW BEFORE YOU RENEW YOUR MORTGAGE LOAN ORIGINATOR LICENSE

  1. Informative post!! For mortgage originators. NMLS (Nationwide Mortgage Licensing System & Registry) has clearly stated DO NOT wait until the last minute to complete your CE and renew your license! As a warning to mortgage lenders to avoid any delay in the requirement process. The best thing is that NMLS sends a reminder to all the MLO’s so that they can get ready with the renewal process well in advance. Also, Renewal for 2016 will begin November 1, 2015. Visit: http://mortgage.nationwidelicensingsystem.org/slr/common/renewals/Pages/default.aspx for more information….

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