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How to Select an NMLS Course Provider

In the U.S., Mortgage Loan Originators are required to fulfill Pre-License Education requirements. Each year, a certain amount of Continuing Education hours must be completed in order for the license to be renewed.

A federal mandate requires every state to comply with the 20 hours of Pre-License Education and 8 hours of Continuing Education as part of the license approval and renewal process. Many states now require "state-specific" educational training, in addition to the Pre-License and Continuing Education hours that must be met. In order to become licensed in multiple states, it may appear overwhelming to those looking for a Mortgage License Education Provider.

This article will help those who are looking to make the process less difficult than it needs to be.

Course providers must be approved through the Nationwide Mortgage Licensing System.

If the selected states require additional training, you may need to use more than one provider. It's uncommon for a course provider to get approved by the NMLS in every state where state-specific requirements must be met. This is mainly due to the fact that some states don't have a high enough demand from customers in need of training. If you plan on being licensed in multiple states, it is a good idea to locate one of the few providers offering everything you need to become licensed.

Courses are provided in several different formats. On-site training is received inside a classroom. Webinars offer live courses online via a webinar. Online courses are instructor-led courses delivered online, and can be completed at your own pace. Usually the course must be completed within a certain time frame. Those who feel pressured by having to finish the training by a certain date, should choose online self-study which does not require coursework to be completed within a specific window.

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You will want to select a course provider offering training in the format that best meets your needs.

In order for the training process to run smooth, the technology platform should be meet the guidelines established by the NMLS. The NMLS has established guidelines as to how the training must be conducted, such as instructor interaction, course timing, and identity verification. Course providers have a lot of wiggle room in making compliance with NMLS guidelines as hassle-free as possible. Not all course providers are alike, so it's a good idea to research the technology platform they use before you buy their course.

When looking for these course provider, customer service should be one of the biggest deciding factors. Issues are bound to present themselves throughout the training process. Some common issues are questions around what courses are required to renew a license, as well as having trouble finding one's way around the provider's website. It's important for you to be able to reach someone who can assist you with the various issues in need of a resolution.