Pass the SAFE Mortgage Loan Originator Test with ProSchools' Exam Prep
Prepare for your SAFE Mortgage Loan Originator Test with ProSchools' powerful National and Iowa test prep programs. Included are important lessons with multi-media reviews, knowledge-building exercises, and hundreds of practice questions (complete with explanations) that test you on the SAFE Mortgage Loan Originator Test topics. Plus, track your progress and exam readiness with our mortgage exam score monitor. You'll learn how to overcome test-taking anxieties too! Enroll now and pass with confidence.

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What you get with ProSchools' SAFE Mortgage Loan Originator Test Prep

1. Hundreds of online practice questions with explanations and score tracking
2. Lessons on NMLS exam topics in easy-to-read and printable formats
3. Multi-media chapter reviews
4. Knowledge building exercises for the loan originator exam
5. Exam prep tips and strategies

Iowa Mortgage Loan Originator Licensing Requirements
To be licensed as a loan originator in Iowa you must.

1. Complete 20 hours of NMLS-approved education. The education must include a minimum of 3 hours of federal law and regulations, 3 hours of ethics, and 2 hours related to lending standards for nontraditional mortgage product marketplace.
2. Pass a National criminal background check.
3. Pass the SAFE Mortgage Loan Originator Test. The SAFE Mortgage Loan Originator test is two exams, a national exam and a state exam, which may be taken separately.
4. Register with the Nationwide Mortgage Licensing Registry (NMLS).

Deadlines to Pass the SAFE Mortgage Loan Originator Test
To ensure a smooth transition the deadlines for passing the SAFE Mortgage Loan Originator Tests are:

1. Individuals who were licensed prior to January 1, 2009 will need to pass both the National and Iowa components of the exam by October 31, 2010.
2. Individuals licensed between January 1, 2009 and July 31, 2009 will need to pass the National component of the exam by October 31, 2010.
3. New applicants as of July 31, 2009 must pass both components of the exam prior to being licensed.

SAFE Mortgage Loan Originator Test Information

The SAFE Mortgage Loan Originator Test consists of two separate exams called "components":

1. 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%)
2. Iowa component (60 questions with 50 scored and 10 unscored): The exam will cover: 1) Iowa Division of Banking (5%); 2) State law and regulation definitions (10%); 3) License law and regulation (20%); 4) Compliance (55%); 5) Disciplinary action (10%)

To schedule and take an exam you must:

1. Create an account in NMLS. Anyone seeking a license must have or create an account in NMLS prior to enrolling.
2. 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.
3. Study for the exam. Note: You are not required to complete your prelicense education prior to taking the exam!
4. Schedule your exam through either Prometric or Pearson VUE. The test is administered at nearly 500 locations nationwide.
5. Arrive at the test center 30 minutes prior to your appointment with current government-issued ID that contains a photo and signature.