The Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act) requires that state-licensed mortgage loan originators (MLOs) complete annual continuing education. In order to meet continuing education requirements state-licensed MLOs must complete 8 hours of NMLS approved education which include the following:
For Annual Continuing Education, the SAFE ACT Requires State-Licensed MLOS to Complete:
a. Three hours of Federal law and regulations;
b. Two hours of ethics that shall include instruction on fraud, consumer protection, and fair lending issues;
While the SAFE Act requires NMLS to approve pre-licensure and continuing education courses, it is individual state law that compels mortgage loan originators to take the pre-licensure and continuing education as a requirement for state licensure. Many state agencies require that pre-licensure education be complete prior to submitting an application through NMLS. NMLS provides information concerning education requirements and administers the process for completing it, but state-licensed MLO's should refer to their state agencies regarding the specific details associated with meeting the education requirements.
> The State-Specific Education Chart shows which states have a requirement for state specific-education.
> The SAFE Act's Successive Year Rule requires MLOs to complete eight (8) hours of CE every year and mandates that an MLO may not take the same course two years in a row.
NYAMB's 11 Hour NY SAFE Comprehensive: Staying Compliant with Mortgage Law Application Status
All "New" 2017 Approved Course to meet your Federal & State Continuing Education Requirements.
This course satisfies the requirements set forth by the Secure and Fair Enforcement Mortgage Licensing Act for a comprehensive 11-hour continuing education course for mortgage loan originators. NY SAFE Comprehensive: Staying Compliant with Mortgage Law covers topics required by the SAFE Act: (3hrs) of federal law, (2hrs) of non-traditional mortgage lending, (2hrs) of ethics (to include fraud, consumer protection, & fair lending issues), (1hr) undefined elective and (3hrs) New York state law.
Policy & Requirements for Satisfying Course Completion
NYAMB offers one (1) public 11 Hour Course in each of our Regions (Long Island, Lower Hudson, North East & Western) starting in the Fall each year. In addition to our public course offering, we offer private courses for companies wishing to host a private class for their employees (mlos). For inquiries about setting up a private course offer please send your request with the following information to firstname.lastname@example.org (company name, requested date , full address for course location & number of students. Please note: a minimum of 12 students are needed to host a private course offering. Please be sure to check our course calendar for availability.
Private Course Offerings
Private course offerings are offered to private companies and will require a registration passcode to register. Companies wishing to schedule a private course offering should send an email to: email@example.com Please check our events calendar for available dates. Sponsorship for private courses are not permitted.
Registration includes: student course book, nmls recording fees, certificate of completion, coffee & water (lunch options available at certain facilities subject to out of pocket expense to student)
Registration Policy: All course registrations are non-refundable. No refunds or credits will be issued due to Cancellations or no-shows. No Exceptions!