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What We Do - In-House Loan Originator and Licensing and Skills-Based
Mortgage Education
We work with employers to
help train their employees. Our programs combine
compliance AND job skills. Students receive licensing and
continuing education at the same time they learn critical job
skills like financial analysis, process management and detailed
qualification.
Why aren't we on the
Maryland list of approved career schools?
Because we don't
provide training to the general public, we are "exempted" from
registration by Maryland Higher Education. We don't
provide "career opportunity" training, like the other
mortgage training firms, bartender or hairdresser schools.
Because students must be sponsored, our classes are only
attended by individuals who already have employment and have
begun a career in the mortgage industry. This allows us
flexibility like providing classes in multiple locations,
offering success guarantees and employer underwritten payment
arrangements.
Here is the exemption
Who needs to be
Licensed?
Beginning July, 2009, ALL
non-bank mortgage originators must
be licensed by the Division of Financial Regulation through the
Nationwide Mortgage Licensing System. Here
is a link to the application form. In the past non bank
lenders were exempt, but the Federal SAFE Act ended this.
Should I Wait Until I
Pass the Class to Apply for the Maryland Loan Originator
License?
The application process
takes 30-60 days, including the fingerprints, background check
and administrative processing. If you have an employment
affidavit, don't wait until you finish the class to apply - you
are just delaying your approval. Apply today, then take
the class during the 30 day background check period.
The Process we Recommend:
Our
Loan Officer Boot Camp
is not a licensing course - it is a skills course. If your
primary concern is licensing, I recommend you go here:
On-Line NMLS Approved Pre-Licensing Education
This is both pre-licensing education and
test preparation training. Once you have completed this, and
have a sense of what you know and don't know, then you should
come back and buff up on skills.
First things first. We recommend the
following order:
1.) Get or Identify an
Employer/Sponsor - they may also have a training
recommendation or provide free training of some sort - plus you
will need this affiliation to obtain a license. If you can't
find an employer who will agree to sponsor you, why would you
take a course, etc.?
2.) Register with Nationwide
Mortgage Licensing System (NMLS) and begin the
background check/fingerprint process - this can take 30 - 60
days to clear, so while you wait, you can get your education and
take your tests.
3.) Take the classes online
- we recommend the instructor-led online (self-paced on-line
learning) that requires you to take a few hours a day over a
longer period of time, instead of the all-at-once live-in-person
or live-webinar format. Our data show that taking the courses
over a longer period of time produce much higher test pass
rates.
As I mentioned, we recommend:
On-Line or Self-Paced
Education
4.) Schedule and take your exams (1
national and 1 for each state you want a license in). If you
fail you have to wait 30 days, so you'll have time to take
another exam prep course from a different provider, such as this
one:
Recommended Test Preparation Courses for those struggling with
the Exams
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Leading Provider of In-House, Customized Training Programs
