1.2 NMLS Course Approval

In situations where States, through the passage of their own SAFE Act legislation, have mandated that state-licensed MLOs complete additional hours of pre-licensure and/or continuing education that exceed the federal requirement; or in situations where states have mandated that a certain number of the 12 hours of electives associated with meeting the pre-licensure requirement or the 1 hour of elective associated with fulfilling the annual continuing education requirement, NMLS will, if the state so desires, approve these courses in cooperation with the respective state agency.

For example:

Example 1: State B

State B requires the minimum SAFE Act requirements of 3 hours of federal law, 3 hours of ethics, 2 hours of nontraditional mortgage lending, 4 hours of state-specific mortgage law (taken from the 12 hours of undefined electives), and 8 hours of electives for a total of 20 hours. NMLS will approve the course.

Example 2: State C

State C requires the minimum SAFE Act requirements of 3 hours of federal law, 3 hours of ethics, 2 hours of nontraditional mortgage lending, and 12 hours of undefined electives plus an additional four hours of state-specific mortgage lending law for a total of 24 hours. NMLS will approve the required 20 hours associated with meeting the federal SAFE Act requirements, AND, if the state so desires, NMLS will coordinate with the appropriate state agency for the approval of the additional hours of state-specific content.