OnlineEd® to credit bank NMLS course completions on the same or next business day of your course completion
By Jeff Sorg, OnlineEd Blog
(November 6, 2015) – At OnlineEd, the annual NMLS license renewal season is well underway! It’s a pretty easy task for a MLO to renew a license, but if you have any questions just let us know or visit the NMLS or OnlineEd websites. Here’s a few of the top question asked to NMLS and OnlineEd:
- “Do I need to do CE?” – MLOs need CE each year to renew a license. But, if you can’t remember if you’ve completed your annual CE, just hop on over to the NMLS website and check your Course Completion Record. The course completion record displays icons informing MLOs if a course is required. The green check mark means they are CE compliant; a yellow “yield” symbol means a course is required. Here’s a Quick PDF Guide published by NMLS on how to view the record.
- “Will this course comply with the NMLS Successive Year Rule?” – MLOs can’t take the same course two years in a row. You won’t need to worry about this with OnlineEd because we publish a new course each year. Just head on over to the OnlineEd course catalog for this year’s offering. If you’re using another provider, be sure to make sure the course approval is different from the course you completed last year. Remember, the rule is for a course, not a provider. MLOs are free to use the same provider year-after-year, provided their course is different from the year prior.
- “When will my course be credit banked with NMLS?” – NMLS course provider rules require your course provider to credit banking (report your course completion) within 7 calendar days of the date you complete your course. At OnlineEd we do things a little bit different! We will actually credit bank course completions on the same or next business day from the date you complete your course, depending on the time of day completed. The sooner your course is credit banked by your provider, the sooner you’ll be able to renew your license.
- “Do I need State-Specific Education? – Many state agencies now have a state-specific CE requirement in addition to the NMLS requirement. The number of hours and any other unique requirements are detailed in the State-Specific Education Charts maintained on the NMLS website. The OnlineEd mortgage course catalog is separated by state and courses that are intended to satisfy a state requirement have the two-letter state abbreviation in the course title.
The NMLS warns that CA-DBO, CO, NY and UT each have unique requirements. See the State-Charts for details.
Some states agencies might have early education or renewal deadlines. See the State-Specific Education Charts at NMLS for details or give our friendly staff a ring at 866.519.9597.
For more information about OnlineEd and their education for real estate brokers, principal brokers, property managers, and mortgage brokers, visit www.OnlineEd.com.
All information contained in this posting is deemed correct as of the date of publication, but is not guaranteed by the author and may have been obtained by third-party sources. Due to the fluid nature of the subject matter, regulations, requirements and laws, prices and all other information may or may not be correct in the future and should be verified if cited, shared or otherwise republished.
Jeff Sorg is a co-founder of OnlineEd®, an online real estate, mortgage broker, and vocational school founded in 1997, where he also serves as Chief Executive Officer, and School Director. Sorg holds vocational and post-secondary school instructor licenses in several states and has authored numerous real estate continuing education and pre-licensing courses and has been awarded the International Distance Education Certification Center’s CDEi Designation for distance education. Memberships include ARELLO (Association of Real Estate License Law Officials), the National Association of REALTORS®, Oregon Association of REALTORS®, and Portland Metro Association of REALTORS®. Awards and service include REALTOR® Emeritus in the National Association, Life Member award in Portland Metro Association and Chairperson of the Oregon Real Estate Forms Committee.
OnlineEd® provides real estate, mortgage broker, insurance, and contractor pre-license, post-license, continuing education, career enhancement, and professional development and designation courses over the Internet.