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

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

New York Mortgage Loan Originator Requirements
Article 12-E of the New York Banking Law requires Mortgage Loan Originators to be licensed. The requirements to be licensed are:

1. Complete 20 hours of NMLS-approved prelicense education. The education must include a minimum of 3 hours of federal law, 3 hours of ethics, 3 hours of New York law and 2 hour related to nontraditional mortgage products.
2. Pass a national background check. All applicants who filed an application after July 11, 2009 must submit to the background check by May 31, 2010. Existing licensees must submit to the background check by August 31, 2010.
3. Pass a credit check by August 31, 2010. The ability to authorize a credit report through NMLS is not currently available. Once it is available this web page will be updated.
4. 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.
5. Meet bonding requirements.
6. Register with the Nationwide Mortgage Licensing Registry (NMLS).

Deadlines to Meet Education and Testing Requirements
To facilitate an orderly transition to licensing and minimize disruption in the mortgage marketplace, the deadlines to complete the education and testing requirements are:

• All applicants on or after July 11, 2009 have until May 31, 2010 to complete the 20 hours of NMLS-approved education and pass the National and New York components of the SAFE Mortgage Loan Originator Test.
• Existing licensees approved as of July 11, 2009 have until August 31, 2010 to complete the 20 hours of NMLS-approved education and pass the National and New York components of the SAFE Mortgage Loan Originator Test.
• Anyone that filed an application prior to July 11, 2009 that has not been approved, withdrawn or denied has until May 31, 2010 to complete the 20 hours of NMLS-approved education and pass the National and New York components of the SAFE Mortgage Loan Originator Test.

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. New York component (65 questions with 55 scored and 5-10 unscored): The exam will cover: 1) New York State Banking Department (5%=2-3 questions); 2) New York State Law and Regulation Definitions (15%=8-9 questions); 3) New York License Law and Regulation (20%=11 questions); 4) Compliance (45%=24-25 questions); 5) Disciplinary Action (10%=5-6 questions); 6) Unique New York State Test Areas (5%=2-3 questions)

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.