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Massachusetts 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 Massachusetts 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
Massachusetts Mortgage Loan Originator License Requirements
As of July 31, 2009, the prerequisites for Loan Originator license applications are:
- 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.
- All licensees must submit fingerprints through NMLS for a criminal background check. New applicants on or after January 25, 2010 must submit fingerprints at the time of application. Existing licensees as of July 31, 2009 must submit fingerprints by December 31, 2010. Existing licensees who applied after July 31, 2009 but prior to January 24, 2010 must submit fingerprints by July 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).
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:
- 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.
- Pass the National and Massachusetts components of SAFE Mortgage Loan Originator Test by October 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:
- Pass the National and Massachusetts components of SAFE Mortgage Loan Originator Test by October 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:
- Complete 20 hours of NMLS-approved or state-approved education prior to submitting an application.
- Pass the National and Massachusetts components of SAFE Mortgage Loan Originator Test by July 31, 2010.
Loan Originators licensed after November 1, 2009 must:
- Complete 20 hours of NMLS-approved prior to applying.
- Pass the National and Massachusetts components of SAFE Mortgage Loan Originator Test prior to applying.
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%)
- 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:
- 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 21-day course fulfills the 20 hours of prelicense education required under the SAFE Act. ProSchools' 21-day session is our most popular option. A new session begins every Tuesday and allows you a full 21 days to complete your coursework. A list of available sessions appears when you click Buy Now. Course includes all mandatory hours for federal law, ethics, non-traditional mortgage products, and 3 hours of Massachusetts state law. Exam prep is included to help prepare you to pass the National and Massachusetts SAFE MLO Tests. A $30 mandatory NMLS-Banking fee will be added at checkout, the fee covers NMLS administration of your records.