When will new applicants have to take NMLS approved courses?
For any mortgage loan originator who submits an application through October 31, 2009, they can take either a Division approved pre-license education course or an NMLS approved pre-license education course. After November 1, 2009, all Division approved pre-license education courses will no longer be in effect and a mortgage loan originator applicant must take only NMLS approved pre-license education courses. (Also, see Transition Timeframes, below.) Q: If a licensed mortgage loan originator took a pre-license education course that had been approved by the Division prior to the enactment of Chapter 44, do they have to take another pre-licensing course that has been approved by the NMLS? A: No. The Division will certify to the NMLS that the prior pre-license education requirements in Massachusetts met or exceeded the requirements under the federal S.A.F.E. Act and will provide the names of all licensed mortgage loan originators that have taken the approved pre-license courses. Therefore,
