We’ve just received word that ProSchools is approved to offer the 20-Hour Idaho SAFE Comprehensive Course, meeting the NMLS education requirements for Idaho mortgage loan originators! Under the new law, Idaho mortgage loan originator must complete 20 hours of NMLS-approved prelicense education, pass the NMLS exam, complete a background check, and demonstrate financial responsibility.
Here’s a quick summary of Idaho’s plan:
- Mortgage loan originators licensed in Idaho on or before June 30, 2009 must pass the NMLS exam by December 31, 2010.
- Individuals acting as mortgage loan originators who were not licensed in Idaho by June 30, 2009 must pass the NMLS exam by July 31, 2010.
- Regarding education, if someone is licensed as a mortgage loan originator prior to June 30, 2009 and completes 20 or more hours of Idaho approved continuing education by December 31, 2009, including the required 2 hours of Idaho Law, the Idaho Department of Finance will certify the hours. In other words, they won’t have to take the 20-hour NMLS education.
- Individuals not eligible for the pre-license certification process must complete 20 hours of NMLS-approved courses, including 2 hours of Idaho Law, by July 31, 2010.
- If a loan originator has already completed 20 hours of NMLS education in any other state, or if they have had their education certified by another state, they will only need to take the 2 hour Idaho Law.
To date, ProSchools is approved for the 20-Hour SAFE Comprehensive Courses in Arizona, Idaho, Iowa, Kentucky, Louisiana, Massachusetts, Michigan, New Hampshire, Pennsylvania, Rhode Island, Vermont, Virginia, and Washington. If you have NMLS questions, don’t be afraid to give us a call!