The Conference of State Bank Supervisors (CSBS)
has announced that the National SAFE MLO Test with Uniform State Content, the exam used to assess mortgage loan originators (MLOs), has been adopted by all 50 states and U.S. territories.
The Uniform State Test was introduced five years ago and replaces the mix of national and state exams that were previously given individuals seeking a mortgage license. Going forward, an applicant who passes the National SAFE MLO Test with Uniform State Content will not need to take any additional tests to hold a mortgage license within any state or U.S. territory.
“The National Test is yet another way that state regulators have made obtaining an MLO license more robust, streamlined and efficient,” said John Ducrest, Chairman of State Regulatory Registry, the CSBS subsidiary that develops and operates the National Test. “Mortgage professionals who pass their licensing exam can now choose to become licensed in every state without additional testing. This will allow them to access consumers nationwide, and consumers can now choose from a wider selection of mortgage loan originators in their state.”