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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 Virginia 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
Virginia Mortgage Loan Originator Requirements
New legislation requires all mortgage loan originators, unless exempt, to complete new licensing requirements by July 1, 2010. Anyone wanting a license on or after July 1, 2010 must complete the licensing requirements prior to acting as a mortgage loan originator. To be licensed as a mortgage loan originator on or after July 1, 2010, mortgage loan originators must:
- Complete 20 hours of NMLS-approved education. The education must include a minimum of 3 hours of federal law and regulations, 3 hours of ethics, and 2 hours related to lending standards for nontraditional mortgage product marketplace.
- Pass a national background check and authorize a credit report through NMLS by March 1, 2010. The background check is available now, however, the ability to authorize a credit report through NMLS is not currently available. Once it is available this web page will be updated.
- Demonstrate financial responsibility, character and general fitness, including a satisfactory credit report.
- 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).
It is recommended that individuals complete the 20 hours of NMLS-approved education and pass the National and Virginia components of the SAFE Mortgage Loan Originator Test by March 1, 2010 in order to ensure adequate time for processing of the MMLO application.
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%)
- Virginia component (60 questions with 50 scored and 10 unscored): The exam will cover: 1) Virginia Bureau of Financial Institutions (5%); 2) State 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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