West Virginia 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 West Virginia 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.
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
West Virginia Mortgage Loan Originator Requirements
The SAFE Act requires all loan originators to be licensed. The minimum requirements to be licensed as a loan originator are:
Complete 22 hours of NMLS-approved education. The education must include a minimum of 3 hours of federal law, 3 hours of ethics, 2 hours of West Virginia law and 2 hour related to nontraditional mortgage products.
All licensees must submit fingerprints through NMLS for a criminal background check. The deadline for all licensees to submit fingerprints and authorize a credit report through NMLS has not been determined. Once the deadline is known this web page will be updated.
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.
To permit an orderly transition to the new West Virginia loan originator licensing requirements, the deadlines to complete the education and pass the national and West Virginia components of the SAFE Mortgage Loan Originator Tests are:
New Applicants as of June 12, 2010:
Complete 22 hours of NMLS-approved prelicense education prior to applying. The education must include a minimum of 3 hours of federal law, 3 hours of ethics, 2 hours of West Virginia law and 2 hour related to nontraditional mortgage products.
Complete 20 hours of NMLS-approved education, including 2 hours of West Virginia law, by October 31, 2010, unless the licensee has completed at least 20 hours of state-approved education prior to December 31, 2009.
Existing Licensees Approved Between July 1, 2009 and December 31, 2009:
Complete 20 hours of NMLS-approved education prior to applying. The education must include a minimum of 3 hours of federal law, 3 hours of ethics, 2 hours of West Virginia law and 2 hour related to nontraditional mortgage products.
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%)
West Virginia State Component (60 questions with 50 scored and 10 unscored): The exam will cover: 1) West Virginia Division of Banking (5%); West Virginia law and regulation definitions (15%); West Virginia license law and regulation (20%); Compliance (50%); 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!
Arrive at the test center 30 minutes prior to your appointment with current government-issued ID that contains a photo and signature.
As of June 12, 2010, West Virginia requires 22 hours of prelicense education. This NMLS-approved 21-day course fulfills 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 2 hours of West Virginia state law. Exam prep is included to help prepare you to pass the National and West Virginia SAFE MLO Tests. A $30 mandatory NMLS-Banking fee will be added at checkout, the fee covers NMLS administration of your records.
Click course title for detailed information.
As of June 12, 2010, West Virginia requires 22 hours of prelicense education. This NMLS-approved 10-day course fulfills 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, non-traditional mortgage products, and 2 hours of West Virginia state law. Exam prep is included to help prepare you to pass the National and West Virginia SAFE MLO Tests. A $30 mandatory NMLS-Banking fee will be added at checkout, the fee covers NMLS administration of your records.
Click course title for detailed information.
This course satisfies the mandatory 2 hours of West Virginia law. Stay out of legal hot water! Virtually every state has revised their laws as a result of passage of the SAFE Act – don’t get left in the dark. This course includes the most recent updates to state laws, regulations, and practices that govern the mortgage industry in West Virginia. Key terms, West Virginia licensing laws and regulations, compliance issues and disciplinary actions are succinctly summarized.
There is a $1.50 per hour mandatory NMLS-Banking fee that will be added at checkout.
Click course title for detailed information.
Prepare now for the National component of the SAFE Mortgage Loan Originator Test with ProSchools' powerful exam prep. Master the topics on the SAFE Mortgage Loan Originator Test, track your progress, overcome test-taking anxieties, and pass your exam with confidence!
Click course title for detailed information.
Prepare now for the West Virginia state component of the SAFE Mortgage Loan Originator Test with ProSchools' powerful exam prep. Master the topics on the NMLS license exam, track your progress, overcome test-taking anxieties, and pass your exam with confidence!
Click course title for detailed information.
Prepare now for the National and West Virginia state components of the SAFE Mortgage Loan Originator Test with ProSchools' powerful exam prep. Master the topics on the SAFE Mortgage Loan Originator Test, track your progress, overcome test-taking anxieties, and pass your exam with confidence!
As of June 12, 2010, West Virginia requires 22 hours of prelicense education. This NMLS-approved 21-day course fulfills 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 2 hours of West Virginia state law. Exam prep is included to help prepare you to pass the National and West Virginia SAFE MLO Tests. A $30 mandatory NMLS-Banking fee will be added at checkout, the fee covers NMLS administration of your records.