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California 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 California 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.
 
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
California Department of Corporations Loan Originator Requirements
To be licensed by the July 31, 2010 deadline, loan originators must complete following by June 15, 2010:
- Complete 20 hours of NMLS-approved prelicense education.
- All licensees must submit fingerprints through NMLS for a criminal background check.
- 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).
- All licensees will be required to authorize a credit report through NMLS between October 2010 and March 1, 2011.
Licensees that miss the June 15, 2010 deadline will be permitted to work until July 31. As of August 1, 2010 anyone not fully licensed may not operate as a loan originator until they are licensed.
California Department of Real Estate Loan Originator Requirements
New legislation also requires licensees under the California Real Estate Law to obtain an endorsement to be a loan originator by December 31, 2010. The requirements to obtain an endorsement are:
- All new applicants on or after September 1, 2010 must complete 20 hours of NMLS-approved prelicense education. Existing real estate licensees will not need 20 hours of NMLS-approved education if all other requirements are met by August 31, 2010.
- All licensees must submit fingerprints through NMLS for a criminal background check by September 15, 2010.
- All licensees will be required to authorize a credit report through NMLS between October 2010 and March 1, 2011.
- Pass the National and California Components of the SAFE Mortgage Loan Originator Test by September 15, 2010. The SAFE Mortgage Loan Originator test is two exams, a national exam and a state exam, which may be taken separately.
- Register with the Nationwide Mortgage Licensing Registry (NMLS).
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%)
- California component (60 questions with 50 scored and 10 unscored): The exam will cover: 1) California Department of Corporations or California Department of Real Estate (5%); 2) California Law and Regulation Definitions (10%); 3) California License Law and Regulation (25%); 4) Compliance (50%) 5) Disciplinary Action (10%)
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 10-day course fulfills the 20 hours of prelicense education required under the SAFE Act. A 10-day session is only recommended if you need to get your education completed very quickly. A new session starts every Monday and ends the following Wednesday. A list of available sessions appears when you click Buy Now. Course includes all mandatory hours for federal law, ethics, and non-traditional mortgage products. Exam prep is included to help prepare you to pass the National and California SAFE MLO Tests. A $30 mandatory NMLS-Banking fee will be added at checkout, the fee covers NMLS administration of your records.