UST Deadline Looms: Another Step Taken Toward Nationwide Licensing

The Uniform State Test (UST) was created on April 1, 2013 by the Nationwide Mortgage Licensing System & Registry (NMLS) to pave the way for state licensing. This new section of the test consists of 25 questions, bringing the total of the test up to 125 questions. Only 115 questions are scored. The standalone version of the test comprises the 25 questions and is only available for a limited time. In that version of the test, all 25 questions are scored. With this new section of the test, I was curious what those in the industry thought about the increasing demands put upon their livelihood. “The UST is a step to getting approved in other states I am personally in favor of it as it is a limited test, and gives credit to originators for having already passed the national testing. Most states have adopted it but some are debating that it minimizes the requirements for originators, possibly leaving a gap in state knowledge,” said Douglas Braden of Commerce Mortgage. “The test is 25 questions and apparently only takes about 10 minutes to complete. I will be taking it and see it as a possible benefit if I want to be licensed in other states.” The test is currently adopted by 39 states and fees range up to $110. Even though word around the campfire indicates that the standalone test only takes around 10 minutes to complete, NMLS advises that individuals allot 45 minutes to completing the test. It also costs $33 for the standalone test. “You figure, moving forward, if you go into another state, you have to take a state test. Multiple states have approved this test, which bypasses a state-specific exam. They’ve given us a year to take this,” said Don Frommeyer, president of NAMB--The Association of Mortgage Professionals. Enrollment for the test concludes at the end of March and requires that all applicants pass the national test component prior to taking it. For more information on the UST, check out NMLS’ site here.