ProSchools’ 20-hour Indiana mortgage education has just been NMLS-approved. Indiana requires mortgage originators take a minimum of 3 hours of federal law, 3 hours of ethics, 2 hours of non-traditional mortgage 
products, and 2 hours of Indiana law. The remainder 10 hours is elective and ProSchools’ elective content covers national topics to help prepare LOs for the National Component of the SAFE Test.
Here’s a quick recap of Indiana NMLS requirements:
- All new applicants after 1/1/2010 must complete 20 hours of NMLS-approved prelicense education, including 2 hours of IN-SOS specific.
- Submit fingerprints through NMLS for a criminal background check. All licensees must submit fingerprints through NMLS by December 31, 2010.
- All licensees are required to authorize a credit report through NMLS between October 2010 and March 1, 2011.
- Pass the SAFE Mortgage Loan Originator Test. All licensees need to pass the national component by 7/1/2010. New applicants must pass both the National and State Components before an approval is issued.
- Register with the Nationwide Mortgage Licensing Registry (NMLS).
Indiana is one of the states that you might be eligible to certify your education and the state component of the SAFE MLO Test. Call your state agency if you are not sure if you can be certified.
As I have mentioned before, our NMLS education includes a 20-Hour National course that all originators can take. However, all along ProSchools’ strategy has been to build state laws into the 20-Hour SAFE course. Here is a list of those states we have the state laws included in the 20 hours: Arizona, California, Connecticut, District of Columbia, Georgia, Idaho, Iowa, Indiana, Kentucky, Maryland, Massachusetts, Michigan, Nebraska, New Hampshire, New Jersey, New Mexico, New York, Pennsylvania, Rhode Island, Vermont, Virginia, Washington, and West Virginia.
The only 2 states left with required state hours that we’re waiting on are Ohio and Mississippi. Hopefully Ohio will be approved shortly.