We have 4 formats: Live Classroom Instruction, Classroom Equivalent Webinars: for Pre-Licensing and Continuing Education, Online Instructor Led for Pre-Licensure, Self Study Continuing Education classes
- Connecticut Loan Originator License
agentcampus.com offers these Alabama mortgage education courses in conjunction with MortgageEducation.com. All the mortgage education courses are NMLS-approved and will satisfy all the required education hours for your state. Should you have any questions please feel free to contact MortgageEducation.com.
NMLS Provider No. 1400051
Address: 555 West 23rd Street, N10E New York, NY 10011
Who is required to have this license?
An individual who for compensation or gain or with the expectation of compensation or gain takes a residential mortgage loan application or offers or negotiates terms of a residential mortgage loan.
Who does not need this license?
Mortgage loan originator does not include:
- An individual engaged solely as a loan processor or underwriter, as defined in Section 36a-485(10) of the C.G.S. However, subdivision (3) of subsection (b) of section 36a-486 of the C.G.S, as amended by Public Act 09-209, provides that effective July 31, 2010, if such loan processor or underwriter is an independent contractor than such individual must obtain a license as a mortgage loan originator.
- A person who only performs real estate brokerage activities and is licensed in accordance with chapter 392 of the C.G.S., “Real Estate Brokers and Salespersons”, unless the person is compensated by a mortgage lender, mortgage correspondent lender, mortgage broker or other mortgage loan originator or by any agent of such mortgage lender, mortgage correspondent lender, mortgage broker or other mortgage loan originator.
- A person solely involved in extensions of credit relating to timeshare plans, as that term is defined in Paragraph 53D of 11 USC 101.
- Any individual who solely renegotiates terms for existing mortgage loans and who does not otherwise act as a mortgage loan originator, unless the United States Department of Housing and Urban Development or a court of competent jurisdiction determines that the S.A.F.E. Mortgage Licensing Act of 2008, 12 USC Section 5101 et seq., requires such individual to be licensed as a mortgage loan originator under state laws implementing said S.A.F.E. Mortgage Licensing Act.
- A registered mortgage loan originator as defined in subdivision (20) of section 36a-485 of the C.G.S., as amended by Public Act 09-209.
- An employee of an institution or subsidiary described in subdivision (20) of section 36a-485 of the C.G.S., as amended by Public Act 09-209, who is not required to be registered under Section 1507 of the S.A.F.E. Mortgage Licensing Act of 2008, when acting for such institution or subsidiary.
- An individual who offers or negotiates the terms of a residential mortgage loan with or on behalf of an immediate family member of such individual.
- An individual who offers or negotiates the terms of a residential mortgage loan secured by a dwelling, as defined in Section 103 of the Consumer Credit Protection Act, 15 USC 1602, that served as the individual’s residence.
- A licensed attorney who negotiates the terms of a residential mortgage loan on behalf of a client as an ancillary matter to the attorney’s representation of the client, unless the attorney is compensated by a mortgage lender, mortgage correspondent lender, mortgage broker or other mortgage loan originator or by any agent of such mortgage lender, mortgage correspondent lender, mortgage broker or other mortgage loan originator.
What are the pre-requisites for license application?
Each new loan officer applicant is required to submit an application through a MU4 filing. In order to be considered for a loan officer’s license, an applicant must meet the following requirements:
- Authorization of Credit Report
- Completion of Criminal Background Check
- Completion of 20 hours of Pre-licensure Education courses
- Passing the National Component of the MLO SAFE Test
- Passing the State Component of the MLO SAFE Test
- Total of the license request including the NMLS processing fee is $330. A $15 fee for a credit report will be added if one has not been authorized through NMLS in the past 30 days. You will also pay an additional $39 if you authorize a criminal background check at time of application.
What are the standards for issuance?
Section 36a-489(b)(1) of the Connecticut General Statutes requires that an initial license for a mortgage loan originator not be issued unless the commissioner finds that the applicant has:
- Never had a mortgage loan originator license revoked in any governmental jurisdiction, except that a subsequent formal vacating of such revocation shall not be deemed a revocation;
- Notwithstanding the provisions of section 46a-80, not been convicted of, or pled guilty or nolo contendere to, a felony in a domestic, foreign or military court during the seven-year period preceding the date of the application for licensing or at any time preceding such date of application if such felony involved an act of fraud, dishonesty, a breach of trust, or money laundering, provided any pardon of a conviction shall not be considered a conviction;
- Demonstrated financial responsibility, character and general fitness so as to command the confidence of the community and to warrant a determination that the mortgage loan originator will operate honestly, fairly and efficiently;
- Completed the prelicensing education requirement described in section 36a-489a and passed a written test that meets the test requirement described in section 36a-489a;
- Met the surety bond requirement under section 36a-492;
- Not made a material misstatement in the application.
Financial Responsibility Requirement
Section 36a-489(c) of the Connecticut General Statutes explains that a person is not financially responsible when such person has shown a disregard in the management of such person’s own financial condition. A determination that a person has not shown financial responsibility may include, but is not limited to:
- Current outstanding judgments, except judgments solely as a result of medical expenses;
- Current outstanding tax liens or other government liens and filings;
- Foreclosures during the three years preceding the date of application for an initial license or renewal of a license; or
- A pattern of seriously delinquent accounts within the past three years.
SAFE ACT Requirements
- SAFE MLO Test – All licensees must pass the National Component of the SAFE MLO Test by 12/31/2010. Existing licensees who did not pass a Washington test administered by PearsonVue between June 2007 and July 2009 must also pass the State Component of the SAFE MLO Test by 12/31/2010. All new applicants must pass the National & State Components of the SAFE MLO test. If the applicant applies for a license on or before 5/31/2010 and passed the Washington PearsonVue test between June 2007 and July 2009 then they do not need to pass the State Component of the SAFE MLO Test
- Criminal Background Check – All licensees must submit fingerprints through NMLS for a criminal background check by TBD.
- Credit Report – All licensees must authorize a credit report through NMLS by TBD
Connecticut Mortgage Education Requirements
- SAFE Act Pre-License (required courses – SAFE CORE 8 hours) – All new applicants on or after 11/1/2009 must have completed 20 hours of NMLS approved prelicensure education, including 2 hours of WA specific. Existing licensees as of 10/31/2009 must complete 20 hours of NMLS approved education by 12/31/2010, unless the licensee has completed at least 20 hours of DFI approved education prior to 5/31/2010.
- SAFE Act Continuing Education (required courses – SAFE CORE 7 Hours) – All licensees must take 9 hours of NMLS approved continuing education, including 1 hour of WA specific, in 2010 in order to renew for 2011, unless PE was completed in 2010. This course should be taken Yearly by 12/31.
- Certification (Education) – Individuals licensed as of 7/30/09, who renewed for 2010 and who completed 20 hours of WA state approved education on or before 5/31/2010 may be eligible to participate in the PE certification process and may not need to take the NMLS approved pre-licensing education. Refer to WA state’s website for more information: http://dfi.wa.gov/cs/mlo-certification.htm
- Certification (Test) – All new applicants must pass the National & State Components of the SAFE MLO test. If the applicant applies for a license on or before 5/31/2010 and passed the Washington PearsonVue test between June 2007 and July 2009 then they do not need to pass the State Component of the SAFE MLO Test.
MortgageEducation.com and 360Training Marketing Questions
Course purchases are good “forever,” with the only barrier being if we discontinue a course. The course timing expiration varies:
- Classroom – scheduled
- Webinar- 2 to 5 Hours
- Online Instructor Led- 3 to 5 days
Our NMLS Provider ID: 1400051
Consult the NMLS Master Course Catalog for more detail
When the students are in the Webinar based classes, the instructor is there the entire time to answer questions. With the Online Instructor Led, emails go to two instructors, both of whom have general knowledge and are generally available. Responses to activities in the courses occur twice a day. Tech Support – 9:30- 6:30 EST
A request for refund, less a 15% processing fee, will be honored if requested within seven calendar days of purchase date. Additionally, for classroom courses, refund requests must be received no later than seven days prior to the course start date. No refunds will be issued for completed courses
We use “articulate.” we have timed slide progression, interspersed with Knowledge Check, which are short four-question quizzes that require 100% to pass and continue
A mix of manual and technology based requests will be done on our end
Students may take the NMLS State and National Exams in any order they choose, and may take them before or after completing the Pre-Licensing Education
If you are not taking these courses for Continuing Education Credit or State Certifications of any Kind, your Certificates will be available to you to Print from your Final exam box located on your “Welcome Page” instantly upon completion of the Final exam