Sales/Enroll 888-360-8764
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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- New Jersey 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 for any natural person who for compensation or gain, or in expectation of compensation or gain, either directly or indirectly takes a residential mortgage loan application, or offers or negotiates terms of a residential mortgage loan. Residential mortgage loans include both first and second mortgage loans on New Jersey property. A mortgage loan originator must be employed by one, and not more than one, licensed New Jersey Residential Mortgage Lender, Correspondent Residential Mortgage Lender, or Residential Mortgage Broker.
Who does not need this license?
- An individual who is licensed as a New Jersey Qualified Individual Residential Mortgage Lender, Qualified Correspondent Residential Mortgage Lender or Qualified Individual Residential Mortgage Broker.
- An individual engaged solely as a loan processor or underwriter performing clerical or support duties as an employee, at the direction of and subject to the supervision of a New Jersey licensed Residential Mortgage Lender, Correspondent Residential Mortgage Lender or Residential Mortgage Broker or a person exempt from licensure under New Jersey law.
- An individual engaged solely in extensions of credit relating to timeshare plans, as defined in section 101(53D) of title 11, United States Code (11 U.S.C. s.101 (53D)).
- A registered mortgage loan originator who is registered under the federal “Secure and Fair Enforcement Licensing Act of 2008,” title V of Pub.L.110-289 (12 U.S.C. s.5101 et. seq.).
- A licensed attorney who negotiates terms of a residential mortgage loan on behalf of a client as an ancillary matter to the attorney’s representation of a client, unless the attorney is compensated by a residential mortgage lender or residential mortgage broker
- A person licensed as a NJ real estate broker or salesperson and not engaged in the business of a residential mortgage lender or residential mortgage broker
- Any individual who offers or negotiates terms of a residential mortgage loan: (1) with or behalf of an immediate family member; or (2) secured by a dwelling that served as the individual’s residence
Pre-requisites for license applications?
- Completion of 20 hours of NMLS approved pre-licensure education, including 4 hours of New Jersey specific education
- Successful passage of both the National and State components of the SAFE Test
- Submission through the NMLS of fingerprints for the completion of a criminal history background check by the FBI
- Completion of a State criminal history background check through the processes established in New Jersey for a New Jersey State Police check
- Authorization through the NMLS for the obtaining of a credit report on the applicant
- Satisfaction of character and fitness requirements
New Jersey Mortgage Loan Originator License
SAFE ACT Requirements
- SAFE MLO Test – Existing individual licensees and sole proprietors must pass the National and State Components of the SAFE MLO Test by 4/30/2010. Existing mortgage solicitor registrants must pass the National and State Components of the SAFE MLO Test by 5/15/2010.
- Criminal Background Check – All individual licensees and sole proprietors must submit fingerprints through NMLS for an FBI criminal background check by 4/30/2010. All mortgage solicitor registrants must submit fingerprints through NMLS for an FBI criminal background check by 5/15/2010.
- Credit Report – All individual licensees and sole proprietors must submit fingerprints through NMLS for an FBI criminal background check by 4/30/2010. All mortgage solicitor registrants must submit fingerprints through NMLS for an FBI criminal background check by 5/15/2010.
New Jersey Mortgage Education Requirements
- SAFE Act Pre-License (Required courses – SAFE CORE 8 hours) – All new applicants on or after 1/4/2010 must have completed 20 hours of NMLS approved pre-licensure education, including 4 hours of NJ specific. Existing individual licensees and sole proprietors must complete 20 hours of NMLS approved pre-licensure education by 4/30/2010. Existing mortgage solicitor registrants must complete 20 hours of NMLS approved pre-licensure education by 5/15/2010.
- SAFE Act Continuing Education (Required courses – SAFE CORE 7 hours) – All licensees must take 12 hours of NMLS approved continuing education, including 2 hours of NJ specific, in 2011 in order to renew for 2012. This course should be taken Yearly by 12/31.
- Certification (Test) – Currently licensed Individual Licensed Lenders and sole proprietor Licensed Lenders as well as any currently registered mortgage solicitors who have passed the NJ Licensed Lender test between 11/2004 and12/31/2009 may be eligible to participate in the testing certification process and may not need to take the NJ Component of the SAFE MLO Test. Refer to your state agency for more information.
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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