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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 Jersey 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.
 
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
New Jersey Mortgage Loan Originator Requirements
The SAFE Act requires loan originators to be licensed. The minimum requirements under the SAFE Act are:
- Complete 20 hours of NMLS-approved prelicense education. The education must include a minimum of 4 hours of New Jersey law, 3 hours of federal law, 3 hours of ethics, and 2 hour related to nontraditional mortgage products.
- All licensees must submit fingerprints through NMLS for a criminal background check. Individual licensees and sole proprietors must submit to the background check by April 30, 2010. Mortgage solicitor registrants must submit to the background check by May 15, 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).
To permit an orderly transition to the New Jersey loan originator licensing requirements, the deadlines to complete the education and pass the National and New Jersey components of the SAFE Mortgage Loan Originator Test are:
- New applicants on or after January 4, 2010 must complete the education and pass both the National and New Jersey components of the SAFE Mortgage Loan Originator Test prior to applying.
- Existing individual licensees and sole proprietors must complete the education and pass both the National and New Jersey components of the SAFE Mortgage Loan Originator Test by April 30, 2010.
- Existing mortgage solicitor registrants must complete the education and pass both the National and New Jersey components of the SAFE Mortgage Loan Originator Test by May 15, 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%)
- New Jersey component (60 questions with 50 scored and 10 unscored): The exam will cover: 1) New Jersey Department of Banking and Insurance (5%); 2) State law and Regulation Definitions (10%); 3) New Jersey Residential Mortgage Lending Act and Regulations (20%); 4) Compliance (45%); 5) Disciplinary action (10%); 6) 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.
What you get with ProSchools' SAFE Mortgage Loan Originator Test Prep
- Hundreds of online practice questions with explanations and score tracking
- Lessons on NMLS exam topics in easy-to-read and printable formats
- Multi-media chapter reviews
- Knowledge building exercises for the loan originator exam
- Exam prep tips and strategies
New Jersey Mortgage Loan Originator Requirements
The SAFE Act requires loan originators to be licensed. The minimum requirements under the SAFE Act are:
- Complete 20 hours of NMLS-approved prelicense education.The education must include a minimum of 3 hours of federal law, 3 hours of ethics, 4 hours of New Jersey law and 2 hour related to nontraditional mortgage products. Note: ProSchools is currently developing the New Jersey state program. Loan originators are encouraged to begin the prelicense education and testing early and can take the national requirements separately from the New Jersey requirements. This web page will be updated immediately once the New Jersey course work is completed!
- 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 Jersey loan originator licensing requirements, the deadlines to complete the education and pass the National and New Jersey components of the SAFE Mortgage Loan Originator Test are:
- New applicants on or after January 4, 2010 must complete the education and pass both the National and New Jersey components of the SAFE Mortgage Loan Originator Test prior to applying.
- Existing individual licensees and sole proprietors must complete the education and pass both the National and New Jersey components of the SAFE Mortgage Loan Originator Test by April 30, 2010.
- Existing mortgage solicitor registrants must complete the education and pass both the National and New Jersey components of the SAFE Mortgage Loan Originator Test by May 15, 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%)
- New Jersey component (60 questions with 50 scored and 10 unscored): The exam will cover: 1) New Jersey Department of Banking and Insurance (5%); 2) State law and Regulation Definitions (10%); 3) New Jersey Residential Mortgage Lending Act and Regulations (20%); 4) Compliance (45%); 5) Disciplinary action (10%); 6) 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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