How to Pass the California Mortgage Loan Originator (MLO) Exam on Your First Try!
Complete your California SAFE education requirements and prepare for the national exam with one complete package!
When you enroll in this package, you will receive the coursework and prep materials needed to fulfill the education-related pre-requisites for license application, including the 20-Hour CA-DBO SAFE Comprehensive Course and SAFE MLO National Exam Online Prep with UST. Reach your learning goals 100% online!
To become a mortgage loan originator (MLO) in California, you need to complete the required hours and sit for the state exam (in addition to other pre-requisite steps to get your MLO license) as follows:
- Fulfill 20 hours of pre-licensing education – Includes 3 hours of federal law and regulations, 3 hours of ethics, 2 hours of training related to nontraditional mortgage products, 2 hours of CA-DBO specific agency regulations, and 10 hours of loan products and programs, underwriting and settlement procedures
- Pass the SAFE MLO National Test with Uniform State Content. (This written test must be taken through a test provider approved by NMLS.)
Why Enroll in Allied’s California SAFE Package?
- NMLS Approved – Your education must be completed by a provider with NMLS approved courses and Allied has what you need!
- All-Inclusive – You’ll get all of the education materials you require, in one complete package
- Save Money – By choosing this option, you receive savings by getting what you need bundled in one convenient package
- 100% Online – You can maintain your current career and responsibilities with a learning option that fits all of life’s circumstances
- Regular Course Attendance – Stay on top of your studies with required attendance and participation, which meet NMLS standards
Your Package Will Include:
20-Hour CA-DBO SAFE Comprehensive Course – Syllabus
Staying compliant with the SAFE Act, your education will include four comprehensive sections that focus on federal laws and regulations, including the TILA-RESPA Rule, fraud, consumer protection and fair lending issues, non-traditional mortgage products, CA-DBO regulations, as well as loan products and programs. Each section will include an overview, objectives, units of content and hands-on assignments. Note: The NMLS requires that students spend a minimum of 20 classroom hours* in this course. As such, students will not be permitted to access the final exam until they have logged 16.33 real hours (980 minutes) in the course and successfully passed all required assignments. Five course sessions will start every Wednesday and be limited to 15 students per session.
*A classroom hour is defined as 50 seat minutes for each clock hour the course is approved.
SAFE Mortgage Loan Originator National Exam Online Prep with UST
This exam prep is designed to prepare existing and aspiring Mortgage Loan Originators for the SAFE MLO National Test with Uniform State Content as required by the SAFE Act). Benefit from 400+ questions that that test your knowledge of federal mortgage-related laws, general mortgage knowledge, mortgage loan origination activities and ethics, in addition to questions related to UST. You can test your knowledge with hands-on-customizable 100-question mock exams. Be prepared the first time with exam prep that reviews what you need to know!
About Mortgage Loan Originators in California
The California Department of Business Oversight (DBO) issues licenses for mortgage loan originators (MLOs) in the state of California. According to the NMLS, a mortgage loan originator is an individual who, for compensation or gain, or in the expectation of compensation or gain, takes a residential mortgage loan application or offers or negotiates terms of a residential mortgage loan.
A residential mortgage loan means “any loan primarily for personal, family or household use that is secured by a mortgage, deed of trust, or other equivalent consensual security interest on a dwelling which contains 1 to 4 residential units. Dwelling includes an individual condominium unit, cooperative unit, mobile home and trailer if it is used as a residence.”
Any person who provides services as a mortgage loan originator in California must apply for and receive a mortgage loan originator license. The MLO license must be renewed each year by December 31st.
It is individual state law that determines when a state-licensed MLO is required to pass the SAFE Mortgage Test, complete pre-licensure or continuing education training, and when state-licensed MLOs are required to complete their background checks.
State-licensed MLOs should refer to the State Licensing Requirements Page regarding schedules for completing each of the professional requirements.
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Allied will pay the $30 credit banking fee to the NMLS upon course completion!
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