EAGAN, Minn.--(BUSINESS WIRE)--AllRegs, the leading information provider for the mortgage lending industry, is excited to announce that its 20 Hour SAFE Comprehensive Mortgage Loan Originator classroom equivalent course, NMLS # 1633, has been approved by the Nationwide Mortgage Licensing System & Registry (NMLS). The Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act) requires that pre-licensing and continuing education courses for state-licensed mortgage loan originators be approved by the NMLS. AllRegs became an Approved Education Provider (#1400024) by the NMLS on July 7, 2009.
Currently, 20-hour pre-licensing and 8-hour continuing education courses are set as the minimum requirements in every state under the SAFE Act. In order to meet these SAFE Act requirements, courses must be approved by the NMLS. AllRegs’ 20 Hour SAFE Comprehensive Mortgage Loan Originator classroom equivalent course coursework fulfills the entire 20-hour pre-licensing requirement.
AllRegs received approval for the 20 Hour Mortgage Loan Originator SAFE Comprehensive classroom course (NMLS # 1013) on August 13, 2009, and announced four continuing education course approvals (NMLS Course #’s 1255, 1256, 1257 and 1258) in March 2010.
“Students can now take this pre-licensing training at their convenience, whether at their home, office or other location, based on a regular course schedule,” said Dan Thoms, executive vice president of AllRegs. “We now plan to have a compelling value-proposition for every mortgage loan originator and broker that are required to meet this training requirement.”
AllRegs’ 20 Hour SAFE Comprehensive Mortgage Loan Originator classroom equivalent course has successfully met all of the listed criteria, including:
- Possess Learning Objectives
- Course Must Have Sufficient Material
- Sufficient Difficulty
- Be of Sufficient Length
- Be Delivered in an Environment Conducive to Learning
- Have a Defined Start and End Time
To register or to learn more about the 20 Hour SAFE Comprehensive Mortgage Loan Originator classroom equivalent course, SAFE Act requirements, or other SAFE Act Resources, visit the AllRegs SAFE Act Resource Center at www.allregs.com or call (800) 848-4904.
About AllRegs: First introduced in 1989, AllRegs is used by virtually all of the top 100 lenders as well as throughout numerous governmental agencies, including Fannie Mae, Freddie Mac, the FHLBs, FHA, VA, RHS, Ginnie Mae, and more. AllRegs is a Mortgage Technology Magazine Top 50 Service Provider for 2009 and the exclusive electronic publisher of the Fannie Mae and Freddie Mac Single and Multi-Family Seller/Servicer Guides, The Federal Home Loan Banks’ MPF Program Guidelines, and CalPERS’ Member Home Loan Program Guidelines. Products include single and multifamily underwriting & insuring guidelines as well as federal compliance laws and regulations, state compliance laws and regulations with plain-language analyses, policy and procedure manual templates, contract publishing services and a library of historical guidelines. The educational division, AllRegs Academy, offers distance learning, classroom training and practical guides, with courses approved for continuing education. AllRegs is FICO’s preferred training provider for the mortgage industry and the official training provider for the National Association of Mortgage Brokers (NAMB). For more information, call (800) 848-4904 or go to www.allregs.com.