| NMLS-Approved Courses and SAFE Act Test Prep
ProSchools Now an NMLS Approved Course Provider (ID# 1400010)
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Oregon Mortgage Education Includes SAFE Loan Originator Test Prep
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20 Hour OR SAFE Comprehensive (2037): 21-day Session
(Includes Exam Prep) |
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ProSchools' NMLS-approved Online Instructor-Led training is convenient and flexible. Meet your Oregon NMLS education requirement and prepare for your SAFE MLO Test fast with our convenient 21-day session! |
This NMLS-approved 21-day course fulfills the 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, and non-traditional mortgage products. Two hours of Oregon law is included to help prepare you to pass the National and Oregon SAFE MLO Tests. A $30 mandatory NMLS-Banking fee will be added at checkout, the fee covers NMLS administration of your records. NMLS requires that Online Instructor-Led courses be completed within session start and end dates. ProSchools will allow one session change for medical emergencies. There is a $50 fee for changing sessions.
More info...
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What do ProSchools' NMLS-Approved Courses Include
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- 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
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Oregon Mortgage Loan Originator License Requirements
Effective January 1, 2010, the requirements to be a loan originator in Oregon are: |
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- Complete an NMLS-approved 20 hour prelicense course . ProSchools' packages include the NMLS-approved 20 Hour SAFE Comprehensive course that prepares you for the National component of the SAFE Mortgage Loan Originator Test and a separate test prep tool to help you pass the Oregon component of the SAFE MLO Test.
- Pass the Oregon state component of the SAFE Mortgage Loan Originator test.
- Pass the National component of the SAFE Mortgage Loan Originator Test .
- Submit fingerprints through NMLS for a criminal background check .
- All licensees will be required to authorize a credit report through NMLS between October 2010 and March 1, 2011.
- Register with the Nationwide Mortgage Licensing Registry (NMLS).
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SAFE Mortgage Loan Originator Test Information
The SAFE Mortgage Loan Originator Test consists of two separate exams called "components":
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- 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%)
- Oregon State Component (60 questions with 50 scored and 10 unscored): The exam will cover: 1) Oregon DCBS/DFCS (5%); Oregon law and regulation definitions (10%); 3) Oregon license law and regulation (25%); 4) Compliance (50%); 5) Disciplinary action (10%)
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| To schedule and take an exam you must: |
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- 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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