Licensed RESPA mortgage loan broker/agent registration and endorsement: no education required

Posted by Connor P. Wallmark | Mar 12, 2010 | Licensing and Education, Real Estate | 0

DRE licensees who are RESPA loan brokers or agents are off the hook for the 20 hour Nationwide Mortgage Licensing System and Registry (NMLS) pre-license education requirement. Instead, any licensee making, arranging or servicing consumer loans secured by one-to-four unit residential property must only file NMLS application Forms MU 1-MU 4 by August 31, 2010 and pay the NMLS $360 system fee.

first tuesday take: No education required for endorsement or registration. For more information on Senate Bill 36 and the Safe Act, see the continually updated first tuesday article, Registration and Regulation: Updates for RESPA Mortgage Brokers

Re: “SAFE ACT – Mortgage Loan Originator (MLO) License Endorsement Requirements” from the California DRE

About The Author

Connor P. Wallmark

is the President & Production Manager of firsttuesday. Connor obtained a Bachelor of Arts degree in English/Creative Writing from the University of Redlands and studied for two terms at the University of Oxford, St. Catherine’s College. Connor has worked at firsttuesday for 17 years and supervises the production of our books, forms and videos. Connor enjoys distance running and experimental music.