Passing the exam is required. Competency is expected. Every NMLS-approved 20-Hour SAFE Act course technically checks the same regulatory box. That does not mean they prepare you equally for the realities of mortgage lending. Most courses are built to help you pass a test. Ours is built to help you retain the content, understand your role when working with borrowers, and pass the test! Enroll Now What Most 20-Hour Courses Actually Deliver Many national providers focus …
Are Your MLOs Truly Independent Contractors?
Many mortgage companies classify Mortgage Loan Originators (MLOs) as independent contractors. However, federal laws—including the Department of Labor’s guidelines, IRS rulings, and the SAFE Act—suggest otherwise. These regulations emphasize that MLOs often function as employees due to factors like company control, lack of independent business operations, and mandatory sponsorship requirements. Misclassification can lead to significant legal and financial repercussions.
Read our latest blog post to understand the implications and ensure your compliance.
If you are thinking of getting a Mortgage Loan Originator State License, you should know the NMLS pass rate for first-time test-takers is in the mid-50s. To clarify, that means roughly half of everyone sitting for the first time fails! Why? The NMLS exam isn’t something you can pass simply by skimming a textbook or taking a quick course. Many test-takers underestimate the depth of knowledge required in areas such as federal regulations, ethics, mortgage …
Looking for a smarter, more affordable way to learn the mortgage business? Starting a career as a mortgage loan originator (MLO) comes with a steep learning curve. You need to understand loan products, guidelines, compliance rules, and how to build relationships with clients—all while trying to grow your business. For many new MLOs, training is either too expensive, too overwhelming, or simply not provided by their company. That often leaves them struggling to learn on their …
When a Borrower Doesn’t Qualify for Conventional Financing—Think Twice Before Defaulting to Non-QM! It’s tempting to label a loan as investment purpose when a borrower doesn’t meet conventional guidelines—even when they plan to occupy the home as a primary residence. Well, that loophole just slammed shut! California’s AB 3108 just changed the game. The gig is up! According to A.J. Dhaliwal and Sherwin F. Root of Sheppard, Mullin, Richter & Hampton, LLP, the party is …