AllRegs announces NMLS-approved courses to fulfill SAFE Act CE requirements

AllRegs announces NMLS-approved courses to fulfill SAFE Act CE requirements

March 2, 2010

AllRegs, an information provider for the mortgage lending industry, has announced the approval of four continuing education courses by the Nationwide Mortgage Licensing System & Registry (NMLS). These new NMLS course approvals follow the approval of AllRegs’ Pre-Licensing course, the 20-Hour Mortgage Originator SAFE Comprehensive (Course Number 1013), on Aug. 17, 2009. AllRegs became an Approved Education Provider (#1400024) by the NMLS on July 7, 2009.
The following AllRegs courses have been approved for continuing education:

Course Name
Course ID

1 Hour SAFE Elective: Fair Lending – The Essentials
CE Online Self Study
CE Elective

2 Hour SAFE Ethics: Fraud and Fair Lending: Consumer Protection
CE Online Self Study
CE Ethics

2 Hour SAFE Non-Traditional Mortgages: FHA and Guaranteed Rural Housing
CE Online Self Study
CE Nontraditional Mortgage

3 Hour Safe Federal Law: ECOA, HMDA, TILA
CE Online Self Study
CE Federal Law

These courses, along with 40 other titles, are available in the AllRegs Education Package, a site-based subscription that allows all employees at a location access to included training.
The Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act) mandates a minimum of 20-hour pre-licensing (PE) and eight-hour continuing education (CE) courses in every state. In order to satisfy these requirements, courses offered to state-licensed mortgage loan originators must be approved by the NMLS. Continuing education courses must include at least:
►Three hours of federal law and regulations
►Two hours of ethics, to include instruction on fraud, consumer protection, and fair lending issues
►Two hours of training related to lending standards for the nontraditional mortgage product marketplace
►One hour of elective credit
“We are happy to announce that AllRegs has received NMLS Approval for eight hours of SAFE Act continuing education courses,” said Dan Thoms, senior vice president for AllRegs. “These courses have been added and made available to all AllRegs Education Package subscribers. Now organizations have more reason to invest in education through AllRegs."
The NMLS has established six criteria that a course must satisfy to gain approval. These criteria dictate that a course must possess learning objectives, have sufficient material, be of sufficient difficulty and length, be delivered in an environment conducive to learning and have a defines start and end time. AllRegs’ arsenal of NMLS approved courses has successfully met all criteria.
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