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Oklahoma 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 Oklahoma 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
Oklahoma Mortgage Loan Originator Requirements
With the passing of Senate Bill No. 1062, the requirements to be a loan originator are:
- Complete 20 hours of NMLS-approved prelicense education. All mortgage loan originators, officers and owners who have not taken CE in the past will need to complete all 20 hours of NMLS-approved education. Anyone who has taken CE in the past will need to make sure they have taken at least 20 hours of education to meet the new requirement.
- All licensees must submit fingerprints through NMLS for a criminal background check by July 31, 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 Oklahoma loan originator licensing requirements, the deadlines to meet the new licensing requirement are:
- New applicants as of July 1, 2009 must complete the education, pass the SAFE Mortgage Loan Originator Tests and background and credit check must be completed by July 31, 2010.
- Existing licensees as of June 30, 2009 must complete the 20 hours of NMLS-approved education by July 31, 2010, unless the licensee completed at least 20 hours of state-approved education by August 1, 2009. The SAFE Mortgage Loan Originator Tests, background and credit check must be completed by July 31, 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%)
- Oklahoma state component. (55 questions with 45 scored and 10 unscored): The exam will cover: 1) Oklahoma Department of Consumer Credit (5%); 2) Oklahoma law and regulation definitions (15%); 3) License law and regulation (20%); 4) Compliance (50%); 5) Disciplinary action (10%)
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 10-day course fulfills the 20 hours of prelicense education required under the SAFE Act. A 10-day session is only recommended if you need to get your education completed very quickly. A new session starts every Monday and ends the following Wednesday. A list of available sessions appears when you click Buy Now. Course includes all mandatory hours for federal law, ethics, and non-traditional mortgage products. Plus, when you purchase the NMLS-approved course a separate test prep tool to help you pass the Oklahoma Component of the SAFE MLO Test is added for no charge. A $30 mandatory NMLS-Banking fee will be added at checkout, the fee covers NMLS administration of your records.