Pass the SAFE Mortgage Loan Originator Test with ProSchools' Exam Prep
Prepare for your SAFE Mortgage Loan Originator Test with ProSchools' powerful National and Massachusetts 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

Massachusetts Mortgage Loan Originator License Requirements
As of July 31, 2009, the prerequisites for Loan Originator license applications are:

1. Complete 20 hours of education. The education must include a minimum of 3 hours of mandatory Massachusetts law, 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 background and credit check.
3. 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.
4. Register with the Nationwide Mortgage Licensing Registry (NMLS).

Deadlines to Complete License Requirements
To permit an orderly transition to the new Massachusetts loan originator licensing requirements, the deadlines to complete the license requirements are:

Loan Originators licensed as of July 31, 2009 who met the "grandfather" provision must:

1. Complete 20 hours of NMLS-approved or state-approved education by October 31, 2010. The state-approved hours must have been in continuing education taken in 2009 and 2010 (no less than 8 hours in each year). The Division will also accept a certification from another state, if applicable.
2. Pass the National and Massachusetts components of SAFE Mortgage Loan Originator Test by October 31, 2010.
3. Submit fingerprints to the NMLS for a criminal background check by December 31, 2010.
4. Authorize the NMLS to obtain a credit report by December 31, 2010.

An individual could be "grandfathered" if they were in the business as a mortgage loan originator as of November 27, 2007 and applied for a license no later than May 29, 2008.

Loan Originators licensed as of July 31, 2009 who were not "grandfathered" must:

1. Pass the National and Massachusetts components of SAFE Mortgage Loan Originator Test by October 31, 2010.
2. Submit fingerprints to the NMLS for a criminal background check by December 31, 2010.
3. Authorize the NMLS to obtain a credit report by December 31, 2010.

The Division will certify that prelicense education requirements have been met for individuals who were not grandfathered and were licensed as of July 31, 2009.

Loan Originators licensed between July 31, 2009 and October 31, 2009 must:

1. Complete 20 hours of NMLS-approved or state-approved education prior to submitting an application.
2. Pass the National and Massachusetts components of SAFE Mortgage Loan Originator Test by July 31, 2010.
3. Submit fingerprints to the NMLS for a criminal background check by July 31, 2010.
4. Authorize the NMLS to obtain a credit report by July 31, 2010.

Loan Originators licensed after November 1, 2009 must:

1. Complete 20 hours of NMLS-approved prior to applying.
2. Pass the National and Massachusetts components of SAFE Mortgage Loan Originator Test prior to applying.
3. Submit fingerprints to the NMLS for a criminal background check by July 31, 2010.
4. Authorize the NMLS to obtain a credit report by July 31, 2010.

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. Massachusetts component (65 questions with 55 scored and 10 unscored): The exam will cover: 1) Mortgage Regulatory Agencies (5%); 2) State law and regulation definitions (10%); 3) License law and regulation (15%); 4) Compliance (55%); 5) Disciplinary action (10%); 6) Massachusetts Unique State Test Areas (5%)

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.