Tag Archives: mortgage loan originator

Oregon’s Senate Bill 879 – Exemptions from Mortgage Loan Originator (MLO) License Requirement

Oregon bill exempts certain individuals from the requirement to hold a mortgage loan originator’s license

By Jeff Sorg, OnlineEd Blog

onlineed news(December 24, 2015) – Senate Bill 879 exempts an individual from the requirement to hold a mortgage loan originator’s license who sells, offers, or negotiates terms of up to three residential mortgage loans secured by dwelling unit owned by an individual or a limited liability company, of which individual is a member, during any 12-month period. The exemption is limited to liability companies consisting of an individual and family members and prohibits an individual or limited liability company from advertising that it is in business of making loans. Finally, the bill limits to holding no more than eight residential loans and requires the individual claiming this exemption to disclose all loans that the limited liability companies hold in aggregate.

In addition, Senate Bill 879 exempts an attorney from having to hold a mortgage loan originator’s license if the attorney negotiates the terms of a residential mortgage loan in representing a client and does not receive compensation from a mortgage banker, broker, loan originator, or lender unless the compensation is from a client who has specified an exemption from the requirement to hold a mortgage loan originators license.

SB 879 becomes effective January 1, 2016.

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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.

Which OnlineEd NMLS Approved Continuing Education Course Should I Take? (California)

(OnlineEd® – Portland, OR) – The SAFE Act requires a mortgage loan originator to complete a minimum of 8 hours of NMLS approved continuing education and renew their license each year on or before December 31st. A NMLS approved course provider has up to six days to report completed courses to NMLS and then the NMLS can take a couple days to process this upload. NMLS does not work weekends or holidays, so we recommend you complete your continuing education credits not later than the 3rd week of December.

At OnlineEd® we like to help you out whenever we can! In most cases, we are able to upload your education record to NMLS on the same or following business day you completed your training, depending on the time of day it was completed. Accuracy of your NMLS information you provide us with at enrollment is paramount to the successful uploading of your record. While we do what we can to expedite the whole credit banking process, NMLS has no tolerance for wrong NMLS ID numbers, names, or name and ID number mismatches. Please be sure to check your license for your licensed name and NMLS number and then enroll with us using that exact information. If you don’t have your license handy at the time of enrollment, go ahead and enroll, but be sure to shoot us a corrective email requesting us to update your account.

We also have three different course packages for you to choose from. We provide these different packages because we want to make sure you get the exact education you need, in the simplest way possible. Below are our NMLS approved courses along with a few sentences about which one would work best for your situation. If we provided your NMLS education last year, you are safe with us again this year! OnlineEd® writes and receives NMLS approval for a new course every year so you have no chance of taking the same course two years in a row.

 8 Hour SAFE Comprehensive: 2013 Originator Essentials – 8 HOURS

This course satisfies 8 hours of required National continuing education for mortgage loan originators.  Certain states may require additional credits for renewal.

Click HERE to learn more about this course.

EdPak S.A.F.E. – 2013 California DRE / NMLS Renewal Package (Complete Renewal Package) – 46 HOURS

If you are also a licensed real estate salesperson or broker in the state of California, then this is the package of courses  you want. It includes our National required 8-hours of NMLS approved education for mortgage loan originators, which is also approved for credit by the California BRE, as well as the necessary courses to renew your real estate salesperson or broker license. Licensees are able to complete the 8 hour NMLS continuing education before the deadline at the end of 2013 and then later complete the remaining courses for BRE credit. OnlineEd gives access to this package of courses for two years from the purchase date.

Click HERE to learn more about EdPak S.A.F.E.

8 Hour SAFE Comprehensive: 2013 Originator Essentials (For California Real Estate Licensees) – 8 HOURS

This course satisfies 8 hours of required continuing education for mortgage loan originators and California licensed real estate agents. Licensees who pass this course will receive credit for both the NMLS and the California BRE. This course is approved by both NMLS and California BRE.

Click HERE to learn more about this course.
OnlineEd® is California BRE Sponsor Number 4056
OnlineEd® is NMLS Provider 1400327
OnlineEd® NMLS Course ID Number 2941

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For more information about OnlineEd®, please visit our web site: www.OnlineEd.com or give us a call at 1.866.519.9597. For information about NMLS and license renewal requirements, please visit the NMLS Resource Center.

OnlineEd Earns Dual Approval for 8-hour NMLS and DRE License Renewal Course

(OnlineEd) OnlineEd® has received dual approval from the Nationwide Mortgage Licensing System (NMLS) and the California Department of Real Estate (DRE) to offer their new 2012 single 8-hour SAFE Act mortgage course for continuing education credits for license renewal of both licenses, mortgage and real estate. The dual approval course can be found in the OnlineEd mortgage and real estate catalogs and is delivered entirely online for a limited time introductory cost of just $69.95, plus the $12 NMLS credit banking fee.

 

Learn more!

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OnlineEd® is a licensed vocational school offering real estate broker, mortgage broker, and insurance licensing courses.

For more information about OnlineEd®, please visit www.OnlineEd.com or contact Paul Cleary at 866.519.9597