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Alabama Mortgage Education Includes SAFE Loan Originator Test Prep
ProSchools' online instructor-led training is NMLS-approved. Courses contain easy-to-understand lessons, lots of practice exams, easy access to your instructor, and flexible online learning allowing you to move through the course quickly. Plus, you study when and where you want. Exchange ideas via discussion forums, blogs, and instructor assignments. An optimal learning experience for busy Alabama Loan Originators! Prepare for your SAFE Loan Originator exam while completing your NMLS course.
Choose the training session that best meets your schedule. Course sessions start and end weekly. If you need longer to complete your course, call our helpful NMLS Account Specialists to discuss transferring to the next available session. At the end of your session, upon course completion, ProSchools "banks" your completion record to the NMLS. There is a $1.50 per hour mandatory NMLS-Banking fee that will be added at checkout.
Enroll now and save! The sale price of $295 for the 20 Hour SAFE Comprehensive course is valid through March 31st!
Alabama does not require state-specific hours so to satisfy the education immediately you may enroll in ProSchools' NMLS-Approved 20 Hour SAFE Comprehensive course. This will satisfy your education requirement and prepare you for the National component of the SAFE MLO Test.
 
What do ProSchools' NMLS-Approved Courses Include
- Courses are online and instructor-led
- Easy-to-read and printable lessons
- Multi-media chapter reviews
- Instructor assignments
- Knowledge building exercises
- Hundreds of online exam questions with explanations and score tracking (this prepares you for the SAFE Mortgage Loan Originator Tests)
- Helpful resources including a student discussion forum, instructor blog, and useful links to NMLS information and testing resources
- Easy access to your instructor via "live chat" office hours, email, or phone
Alabama Mortgage Loan Originator Requirements
The SAFE Act requires loan originators to be licensed. The minimum requirements under the SAFE Act are:
- Complete 20 hours of NMLS-approved prelicense education. The education must include a minimum of 3 hours of federal law, 3 hours of ethics, and 2 hours of non-traditional mortgage products.
- Pass a national background check and authorize a credit report through NMLS by June 1, 2010. The background check is available now, however, the ability to authorize a credit report through NMLS is not currently available. Once it is available this web page will be updated.
- Pass the SAFE Mortgage Loan Originator Test. The SAFE Mortgage Loan Originator test is actually two exams, a national exam and a state exam, which may be taken separately.
- Register with the Nationwide Mortgage Licensing Registry (NMLS).
To permit an orderly transition to the new Alabama loan originator licensing requirements, the deadlines to complete the education and pass the national and Alabama components of the SAFE Mortgage Loan Originator Test are:
- Existing licensees who file prior to June 1, 2010 must meet the education requirements and pass the National component of the SAFE Mortgage Loan Originator Test by June 1, 2010.
- All new applicants on or after June 1, 2010 must the complete the education and pass the National component of the SAFE Mortgage Loan Originator Test prior to being licensed.
The Alabama State Component will be available June 14, 2010. All applicants will be required to pass the state component by December 31, 2010 in order to renew their license for 2011.
SAFE Mortgage Loan Originator Test Information
The SAFE Mortgage Loan Originator Test consists of two separate exams called "components":
- National component (100 questions with 90 scored and 10 unscored): The exam will cover: 1) Federal mortgage-related laws (35%); 2) General mortgage knowledge (25%); 3) Mortgage loan origination activities (25%); 4) Ethics (15%)
- Unique state component. (45-60 questions): The Alabama component is expected to be available June 14, 2010. This web page will be updated as soon as more information is available.
To schedule and take an exam you must:
- Create an account in NMLS. Anyone seeking a license must have or create an account in NMLS prior to enrolling.
- Enroll in the National and/or State-specific test. The fees for the exam will be paid at the time of enrollment through the NMLS.
- Study for the exam. Note: You are not required to complete your prelicense education prior to taking the exam!
- Schedule your exam through either Prometric or Pearson VUE. The test is administered at nearly 500 locations nationwide.
- Arrive at the test center 30 minutes prior to your appointment with current government-issued ID that contains a photo and signature.
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This NMLS-approved course fulfills the 20 hours of prelicense education required under the SAFE Act. Included are all mandatory hours for Federal Law, Ethics, and Non-traditional Mortgage Products. Complete at home or office; study when and where you want. Interact with your instructor via assignments and online forums or directly via live chat, phone, or email. Exam prep is included to help prepare you to pass the SAFE Mortgage Originator Test.