Q:

Is online training offered for an NMLS loan originator?

A:

Quick Answer

The Nationwide Mortgage Licensing System and Registry has approved several loan origination courses that are available online. The organization's website provides an approved list of course providers.

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Full Answer

Before a loan originator receives his license, he must accumulate 20 training course hours. After receiving his license, the originator must complete an additional 8 hours of continuing education every year in accordance with the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 requirements. Both sets of training focus on four key areas: federal law and regulations, ethics, lending standards for the nontraditional mortgage product market and undefined instruction on mortgage origination.

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