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Montana 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 Montana 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.
Note: ProSchools is currently developing the Montana state program. Loan originators are encouraged to begin the prelicense education and testing early and can take the national requirements separately from the Montana requirements. This web page will be updated immediately once the Montana course work is completed!
 
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
Montana Mortgage Loan Originator Requirements
The new requirements to be licensed as an Montana loan originator are:
- Complete 20 hours of approved prelicense education. Licensees who have completed a minimum of 20 hours of Montana-approved continuing education by November 1, 2009 will be eligible to have their hours certified and will not have to complete the prelicense education requirement. Individuals who are not eligible to have their education certified will need to complete 20 hours of NMLS-approved education.
- Pass a national background and credit check.
- 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 Montana loan originator licensing requirements, the deadlines to complete the education and pass the national and Montana components of the SAFE Mortgage Loan Originator Tests are:
- Mortgage loan originators whose licenses expire on June 30, 2010 must meet the new requirements by May 31, 2010.
- Mortgage loan originators whose licenses expire on April 1, 2010 must meet the new requirements by March 1, 2010.
Note: The Montana component of the SAFE Mortgage Loan Originator Test is not expected to available until May or June 2010 so the deadline to pass that test will likely be the end of 2010.
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%)
- Montana component is in development. It is expected to be available in May or June 2010.
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 course fulfills the 20 hours of prelicense education required under the SAFE Act. Included are all mandatory hours for Federal Law, Ethics, and Non-traditional Mortgage Products. Complete at home or office; study when and where you want. Interact with your instructor via assignments and online forums or directly via live chat, phone, or email. Exam prep is included to help prepare you to pass the SAFE Mortgage Originator Test.