ProSchools’ NMLS-Approved Courses Available in Rhode Island

ProSchools, an NMLS-approved provider, has received approval for Rhode Island mortgage courses to meet the 20-hour S.A.F.E. Act requirements.

Rhode Island mortgage loan originators must complete at least 20 hours of approved prelicense education, including a minimum of 3 hours of Rhode Island law, 3 hours of federal law, 3 hours of ethics and 2 hours related to nontraditional mortgage products.

Any loan originator that has taken at least 20 hours of state-approved education may be eligible to have their education certified as having fulfilled the prelicense education requirement. As of December 1, 2009 only NMLS-approved courses will be accepted to meet MLO education requirements.

Each ProSchools 20-hour course includes state-specific hours for those states requiring state laws. In states that don’t mandate state-specific hours, ProSchools has added state material to the course in order to help people pass the state portion of the NMLS exam. All 20-hour courses include the mandatory 3 hours of Federal Law, 3 hours of Ethics, and 2 hours of Non-traditional Mortgage Products.

Courses are designed to help prepare originators to pass the required SAFE test by including online reviews, quizzes, and practice exams.

“ProSchools’ courses are NMLS-approved and serve double duty,” says Deanne Gillock, Regulatory Director for ProSchools. “Mortgage originators are required to complete the hours of study, but they can also use their coursework as a study tool to help them prepare for the NMLS exam. Our primary goal is to help Rhode Island mortgage loan originators pass the NMLS exam and meet education requirements,”

ProSchools currently has state-specific 20 hour NMLS-approved courses in Arizona, Idaho, Louisiana, Michigan, Pennsylvania, Rhode Island, Vermont, Virginia, and Washington, Iowa, New Hampshire, Massachusetts, Maryland, and Kentucky. In addition, ProSchools has state-specific law courses approved in Idaho, Pennsylvania, Rhode Island, and Washington, plus individual courses in ethics and nontraditional mortgage products.

ProSchools projects to have 20-hour courses developed for all 50 states by February 2010. More information can be found at the ProSchools website at www.proschools.com or by calling ProSchools at 1-800-452-4879.