CampusMBA, the award-winning education division of the Mortgage Bankers Association (MBA), has announced it has been approved as an educational provider through the Nationwide Mortgage Licensing System (NMLS) to offer courses under the Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act). The SAFE Act, part of the Housing and Economic Recovery Act of 2008 (HERA), establishes minimum national standards for mortgage training, both in pre-licensing and continuing education. In order for an educational provider to offer these courses, it must be approved by NMLS, which was created by the Conference of State Bank Supervisors (CSBS) and the American Association of Residential Mortgage Regulators (AARMR) and is responsible for implementing these requirements.
"CampusMBA has long been committed to ensuring our members have the relevant tools and training necessary to comply with the most up to date industry and regulatory standards," said Paul Green, MBA's Senior Vice President of Corporate Relations, Education and Business Development. "We are thrilled to provide thorough and dynamic courses to ensure companies and their staff can meet the SAFE Act's pre-licensure and continuing education requirements with minimal disruption to their important daily business."
Requirements for all state-licensed mortgage loan originators include at least 20 hours of pre-licensing education and at least eight hours of continuing education on an annual basis. Required subject matter includes federal law and regulations, ethics, fraud, consumer protection and fair lending issues, as well as instruction on mortgage origination. CampusMBA offers all approved SAFE Act training privately at company locations or online for staff convenience.
For more information, visit www.campusmba.org.