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Colorado 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 Colorado 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.
Colorado 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
Colorado Mortgage Loan Originator Requirements
As of December 31, 2009 the requirements to be licensed as a Colorado loan originator are:
- Complete 20 hours of NMLS-approved prelicense education.
- Pass a national background check. New applicants as of January 1, 2010 must submit to the background check through the NMLS and the state of Colorado prior to being licensed. Existing licensees must submit to the background check by December 31, 2010.
- All licensees will be required to authorize a credit report through NMLS between October 2010 and March 1, 2011.
- 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 Colorado loan originator licensing requirements, the deadlines to pass the national and Colorado components of the SAFE Mortgage Loan Originator Tests are:
- Anyone who is licensed prior to December 31, 2009 has until December 31, 2010 to pass the National component of the SAFE Mortgage Loan Originator Test.
- Anyone who applies on or after December 31, 2009 must pass the National and State component prior to being licensed.
SAFE Mortgage Loan Originator Test Information
The SAFE Mortgage Loan Originator Test consists of two separate exams called "components". The National Component is available now and the Colorado Component will be available for testing beginning December 10, 2009:
- 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%)
- Colorado component (60 questions with 50 scored and 10 unscored): The exam will cover: 1) Colorado Department of Regulatory Agencies (5%); 2) Colorado law and regulation definitions (10%); 3) Colorado 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 Component of the SAFE MLO Test. A $30 mandatory NMLS-Banking fee will be added at checkout, the fee covers NMLS administration of your records.