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How to Select an NMLS Course Provider

Mortgage loan originators need to fulfill Pre-License Education requirements before obtaining a license in the United States. Furthermore, the license must be renewed on a yearly basis, and this calls for Continuing Education requirements to be fulfilled.

A federal mandate requires every state to comply with the 20 hours of Pre-License Education and 8 hours of Continuing Education as part of the license approval and renewal process. In addition, the majority of states now require added “state-specific” educational hours. Those who want to become licensed in multiple states will want to know how to select a training provider that meets their needs.

This article was written for those who want to make the process as painless as possible.

Course providers must have their classes approved through the NMLS, also known as Nationwide Mortgage Licensing System.
If “state-specific education is something that applies to you, then you may need to use multiple course providers. It’s rare for a course provider to get approved for state-specific requirements in every state where certain criteria must be met. The main reason being that some states are lacking in the demand necessary to offer coursework and go through the approval process. If you plan on being licensed in multiple states, it is a good idea to locate one of the few providers offering everything you need to become licensed.
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Courses are offered in three different formats. Classroom training is done in-person. Webinar courses are done through a live webinar. A popular choice in course delivery format is online and instructor-led, as it allows individuals to complete the course at their own pace. Usually the course must be completed within a certain timeframe. Online self-study is practically identical to instructor-led training, but there is no window of time where one must complete the coursework.
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You should look for a course provider that offers training in your preferred format.

The technology platform selected by the provider is critical to enabling successful coursework completion. Specific requirements established by the NMLS are designed to ensure security and promote quality student-teacher interaction. Course providers have a lot of wiggle room in making compliance with NMLS guidelines as hassle-free as possible. Since course providers offer multiple formats in a variety of ways, it’s a good idea to inquire about their delivery methods before you buy their course.

Customer service is one of the most important factors when selecting a course provider. Issues are bound to present themselves throughout the training process. Some common issues are questions around what courses are required to renew a license, as well as having trouble finding one’s way around the provider’s website. Therefore, it’s important to have access to someone who can assist you with whatever needs to be resolved.