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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
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- District of Columbia 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.
MortgageEducation.com
NMLS Provider No. 1400051
Address: 555 West 23rd Street, N10E New York, NY 10011
Customer Support:
(404) 496-4177
Who is required to have this license?
This license is required of any person who, on behalf of a District of Columbia mortgage lender, mortgage broker, or mortgage dual authority licensee, takes a residential mortgage application; offers or negotiates terms of a residential mortgage loan; or solicits or offers to solicit a mortgage loan on behalf of a borrower for compensation or gain. Takes a residential mortgage loan application means: recording the borrower’s application information in any form for use in a credit decision; or receiving the borrower’s application information in any form for use in a credit decision.
Who does not need this license?
Complete exemption provisions are provided for in District of Columbia law and its regulations. Common exemptions include, but are not limited to the following:
- An employee of a depository institution or a subsidiary that is owned and controlled by a depository institution and regulated by a Federal banking agency, or an institution regulated by the Farm Credit Administration, when acting in the scope of employment, and is registered with, and maintains a unique identifier through, the Nationwide Mortgage Licensing System and Registry (“NMLS&R”);
- An employee of a mortgage licensee whose responsibilities are solely clerical in nature and limited only to the receipt, collection, and distribution of information common for the processing or underwriting of a loan in the mortgage industry and communication with a consumer to obtain information necessary for the processing or underwriting of a residential mortgage loan;
- An individual who only performs real estate brokerage activities and is licensed or registered in accordance with District of Columbia law, unless the individual is compensated by a mortgage lender, a mortgage broker, mortgage loan originator, or loan officer, or by any agent of a mortgage lender, mortgage broker, mortgage loan originator, or loan officer;
- An individual who performs clerical or support duties at the direction of, and subject to the supervision and instruction of a District of Columbia mortgage loan originator licensee; and
- An individual solely involved in extension of credit relating to timeshare plans, as defined in Federal law.
What are the pre-requisites for license applications?
- Provide an executed copy of the required District of Columbia Clean Hands Certification form;
- Provide authorization for NMLS&R to obtain an independent credit report from a consumer credit reporting agency for DISB review; and
- Sponsorship by a District of Columbia mortgage lender, mortgage broker or mortgage dual authority licensee.
Mortgage loan originators licensees must also meet the following additional requirements by July 31, 2010:
- Complete at least twenty (20) hours of NMLS approved pre-licensing education;
- A passing score on a qualified written test established by the NMLS&R and administered by a test provider approved by the NMLS&R consisting of a National component and a District of Columbia component; and
- Furnish fingerprints less than ninety (90) days old to the NMLS&R for the completion of a national criminal history background check once notified.
District of Columbia Mortgage Loan Originator License
SAFE ACT Requirements
- SAFE MLO Test – All licensees must pass the National and State Component of the SAFE MLO Test by 7/31/2010.
- Criminal Background Check – All licensees must submit fingerprints through NMLS for a criminal background check by 7/31/2010.
- Credit Report – All licensees will be required to authorize a credit report through NMLS between October 2010 and March 1, 2011.
District of Columbia Mortgage Education Requirements
- SAFE Act Pre-License (required courses – State law 3 hours, SAFE CORE 8 hours) – All new applicants on or after 8/3/209 must complete 20 hours of NMLS approved pre-licensure education, including 3 hours of D.C. specific by 7/31/2010.
- SAFE Act Continuing Education (required courses – State Law 1 hour, SAFE CORE 7 hours) – All licensees must complete 8 hours of NMLS approved continuing education, including 1 hour of D.C. specific in 2010 in order renew for 2011, unless PE was completed in 2010. This course should be taken Yearly by 12/31.
MortgageEducation.com and 360Training Marketing Questions
What are the different course formats available to the student?
How long is the course good for? For Pre-license? For CE?
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
What is the vendor approval number?
Our NMLS Provider ID: 1400051
What are the course approval numbers?
Consult the NMLS Master Course Catalog for more detail
How can the Live Instructor help while the customer is taking the course? Is it 24X7?
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
What’s the Refund policy?
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
How does the online course player work?
75%
What’s the passing score for Pre-license and for CE?
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
Are we going to take care of the Live classroom registrations if yes please specify how?
A mix of manual and technology based requests will be done on our end
Are there any pre-test requirements for Pre-licensing for each state if yes please specify.
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
Are the printable certificates available upon completion?
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
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