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New Jersey 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 New Jersey 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
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.
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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 4 hours of New Jersey state law. Exam prep is included to help prepare you to pass the National and New Jersey SAFE MLO Tests. A $30 mandatory NMLS-Banking fee will be added at checkout, the fee covers NMLS administration of your records.