Mortgage/ Pre-Licensing/ Alabama/ 20-Hr. MLO Pre-Licensing Course Only Package

20-Hr. AL MLO Pre-Licensing Course Only Package

$329

This product includes:

Elective Hours: 0 Mandatory Hours: 20 Total Hours: 20

Description

Package content and courses

State Requirements

Individuals who wish to become a mortgage loan originator (MLO) are required to complete 20 hours of pre-licensing education, in accordance with the SAFE Act, which includes:

Three hours on federal mortgage-related laws
Three hours on ethics
Two hours on non-traditional mortgage products
12 hours of electives

This course fulfills the SAFE Act requirement and provides a comprehensive introduction to the principles and practices of mortgage lending. In addition to the required core topics, the course will focus on content areas appearing on the SAFE MLO Test:

Uniform state content
General mortgage knowledge
Mortgage loan origination activities, including loan inquiry and application process requirements, qualification, closing, and financial calculations

The course brings the content to life through a variety of videos and activities allowing students to learn the content, discuss it with an instructor and other students, and apply it to a range of exercises, real-life scenarios, and case studies.

Package Content:

State Requirements For Alabama

Alabama Requirement Details for Mortgage Pre-Licensing Education

Hours Required by the State: 20

3 hours of federal law
3 hours of ethics
2 hours of non-traditional mortgage lending
12 hours of electives

Seat Time: Seat time will be enforced and our online course delivery system manages this requirement

NMLS ID Registration: The NMLS system is used to process MLO licensing requests for all 50 states. A unique NMLS ID is required to report all course completions. Creating an account and obtaining an ID number is a simple process that can be completed here.

Licensing Exam: The licensing exam is administered by NMLS. Registration for the licensing exam is an entirely separate process from your course final exam. For instructions to register for your licensing exam and further information, please click here.

Provider Approval # 1405076

The CE Shop's Offering: 20 hours

Final Exams: Final exams must be passed with a minimum score of 70% and may be taken a maximum of 3 times.

Course Completion Reporting: Mortgage course completions are reported to the Nationwide Multistate Licensing System. A unique NMLS ID is required to report course completions. The CE Shop will report your course within 7 calendar days.

Expiration Date of course:

National Pre-Licensing courses have a specified start and end date and are instructor-led. Students must select their course start date within 90 days of purchase. Once the start date has been selected students will have that day plus an additional 12 full calendar days to complete their course.

State-specific Pre-Licensing courses, where required, must be completed within 90 days from the date of purchase. Verify state requirements here. After licensing, licensees will be required to complete Alabama Mortgage Continuing Education requirements.

Alabama Contact Details for Mortgage Pre-Licensing Education

Phone: 334-242-3452

State Banking Department of Alabama

Website: www.banking.alabama.gov

Contact: Diana Anderson, diana.anderson@banking.alabama.gov

NMLS Resources for Mortgage Pre-Licensing Education

Alabama MLO License Description Page

Mortgage Education

Criminal Background Check

Credit Report

MLO Testing