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.
The NMLS issued a reminder to course providers that late CE reporting must be completed by February 28, 2012. This will allow MLOs to apply for reinstatement by the deadline, February 29, 2012. According to the NMLS, this is the absolute final deadline to have 2011 CE completed and reported to the NMLS.
Real Estate Institute’s comprehensive late CE course is specifically intended to meet the education requirements needed for you to reinstate your license. Please note: Some states require mortgage loan originators to complete state-specific hours in addition to the CE hours required under the SAFE Act. Be certain to confirm your state’s requirements for late CE reinstatement.
If you did not complete your 2011 CE requirement by December 31, 2011, the following course is approved and available for enrollment. Real Estate Institute’s online, self-paced continuing education course is designed to help you meet your SAFE CE requirement in a convenient and engaging format.
Late 2011 CE: 8-Hour SAFE Comprehensive Continuing Education (NMLS-Approved Course ID: 2720)
The SAFE Act requires 8 hours of continuing education annually. If you are unsure of your 2011 requirement, click here to view a helpful document on the NMLS website. Click here for more information from the NMLS about license reinstatement.