|
Utah 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 Utah 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: To be a Loan Originator in Utah in addition to the NMLS-approved 20-hour course, you are also required to complete a 40 hour course that is approved by the Utah Division of Real Estate. For a list of approved 40-hour courses visit the Utah Division of Real Estate's website.
 
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
Utah Mortgage Loan Originator License Requirements
Beginning on January 1, 2010 the requirements to be a loan originator in Utah are:
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%)
- Utah State Component (65 questions with 55 scored and 10 unscored). The exam will cover: 1) Utah Department of Financial Institutions or Utah Division of Real Estate (5%); 2) Utah law and regulation definitions (10%); 3) Utah license law and regulation (20%); 4) Compliance (50%); 6) Disciplinary action (10%); 7) Unique Utah 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.
Changes to Utah Mortgage Loan Originator Licensing
| |
Existing Licensees |
New Licensees As of January 1, 2010 |
| License Expiration |
All current licensees will expire 12/31/2010. Licenses will then be renewed annually. |
Licenses are annual and expire 12/31 of each year. |
| Prelicense Education Requirements |
No additional education will be required for existing licensees. |
20 hours of NMLS-approved education AND 40 hours of Utah-approved education. |
| Background Check Requirements |
Beginning in 2010, all licensees will be required to complete a background check every 3 years through the NMLS. |
All licensees will be required to complete a background check every 3 years through NMLS. |
| Testing Requirements |
By 12/ 31/ 2010 licensees will have to pass the National component of the SAFE MLO Test. The Utah component will not required. |
Pass the National and Utah components of the SAFE MLO Test. |
|
|
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. Exam prep is included to help prepare you to pass the National Component of the SAFE MLO Test. A $30 mandatory NMLS-Banking fee will be added at checkout, the fee covers NMLS administration of your records.