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

Michigan Loan Originator NMLS Exam Prep Title (click for details) Hours Format Price   Complete SAFE Loan Originator Test Prep (National + MI State) n/a Online $149.00 Info ⁄ Buy Now National SAFE Loan Originator Test Prep n/a Online $99.00 Info ⁄ Buy Now Michigan State SAFE Loan Originator Test Prep n/a Online $79.00 Info ⁄ Buy Now

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

Michigan Mortgage Loan Originator Requirements
All Michigan Loan Originators must be do the following as of July 31, 2010:

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. NOTE: Anyone that has taken the 24 hours of OFIR-approved prelicense education will not have to complete the 20 hours of NMLS-approved education.
2. Pass a national background check and authorize a credit report through NMLS by July 31, 2010. The background check is available now, however, the ability to authorize a credit report through NMLS is not currently available. Once it is available this web page will be updated.
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).

NOTE: Individuals who need to complete the prelicense education prior to July 31, 2010 must complete 24 hours of in-Michigan live pre-registration education. An individual may take NMLS-approved education; however, 24 hours is required, and the course must be a live course taught in Michigan.

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. Michigan component (60 questions with 50 scored and 10 unscored): The exam will cover: 1) Michigan Office of Financial and Insurance Regulation (5%); 2) State law and regulation definitions (10%); 3) License law and regulation (25%); 4) Compliance (50%); 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.