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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 Vermont 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 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
Vermont Mortgage Loan Originator License Requirements
In order to be licensed as mortgage loan originator in Vermont, you must do the following:
- Complete at least 20 hours of NMLS-approved prelicense education. The prelicense education must include at least (3) hours of federal laws and regulations; (2) hours of ethics, including instruction on fraud, consumer protection, and fair lending; and (2) hours related to lending standards for the nontraditional mortgage product marketplace.
- 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.
- Pass a national background check. New applicants on or after April 1, 2010 must submit to the background check at the time of application. Existing licensees as of March 31, 2010 must submit to the background check by July 1, 2010.
- Pass a credit check. New applicants on or after April 1, 2010 must authorize a credit report through NMLS at the time of application. Existing licensees as of March 31, 2010 must authorize a credit report through NMLS by July 1, 2010. The ability to authorize a credit report through NMLS is not currently available. Once it is available this web page will be updated.
- Meet bonding requirements. The bonding requirement is a graduated dollar amount based upon the amount of loans originated in Vermont.
Vermont Mortgage Loan Originator deadlines to the complete the education and pass the SAFE Mortgage Loan Originator Test
To ensure a smooth transition the following are the deadlines to complete the 20 hours of NMLS-approved education and pass both the National and Vermont components of the SAFE Mortgage Loan Originator Test:
- All new applicants on or after April 1, 2010 must complete the 20 hours of NMLS-approved education and pass both components of the SAFE Mortgage Loan Originator Test prior to applying.
- Existing licensees as of March 31, 2010 have until July 1, 2010 to complete the 20 hours of NMLS-approved education and pass both components of the SAFE Mortgage Loan Originator Test.
The Department is strongly encouraging individuals to apply for the mortgage loan originator license well in advance of the July 1, 2010 deadline. Those who wait until
the July 1, 2010 deadline may experience significant backlogs and delays in the processing
and issuance of a mortgage loan originator license, including a period of time during which
the individual is not permitted to engage in mortgage loan originator activities in Vermont.
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%)
- Vermont component (60 questions with 50 scored and 10 unscored): The exam will cover: 1) Vermont Department of Banking, Insurance, Securities, and Health Care Administration (5%); 2) State law and regulation definitions (10%); 3) License law and regulation (15%); 4) Compliance (60%); 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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