- Duration: 8 hours
How to Complete Late Renewal of Your Mortgage Loan Originator (MLO) License
This online continuing education course satisfies the annual continuing education requirements for MLOs set forth by the SAFE Act. The course covers the following continuing education topics as required by the SAFE Act: Federal Law and Regulations: TILA, RESPA, and ECOA Protections: Parts 1 and 2 (3 hrs); Nontraditional: Nontraditional Loans (2 hrs); Ethics: Ethical Regulations and Compliance (2 hrs); and Federal Elective: CFPB Enforcement Actions (1 hr).
The NMLS Annual Renewal Period begins November 1 and ends December 31 each year. According to federal regulations, both institutions and most individual mortgage loan originators (MLOs) must be renewed through NMLS annually.
If the renewal process is not completed prior to December 31st, the MLO is placed in an “Inactive” registration status both on NMLS and NMLS Consumer Access. Inactive registrations must be reactivated in order to have an “Active” registration status.
NMLS requires a $30 processing fee for each MLO seeking to renew or reactivate a registration. MLOs who are submitted for renewal but did not complete renewal attestation prior to December 31 need to be reactivated, incurring an additional $30 processing fee at the time of reactivation. See NMLS Processing Fees and Paying by ACH for additional information.
MLOs receive a notification from NMLS confirming that the renewal or reactivation process is complete.
Consult with your primary federal regulator if you have any questions regarding who is required to reactivate.
“Did You Find What You Need?” For Additional Renewal Information:
- National and/or State Licensing Authority (Click Here)
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