20-Hr. MLO Pre-Licensing Premium Package

$589
This product includes:
Elective Hours: 0 Mandatory Hours: 20 Total Hours: 20
Description
Package content and courses
Renewal Requirements

This package includes 20 hours of Pre-Licensing education required to become a mortgage loan originator (MLO), as well as Exam Prep Edge to help you pass your exam, an eTextbook, and credits for your first renewal package!* 

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.

This package also includes access to Residential Mortgage Lending Principles and Practices, 7E, an eTextbook full of great information on the mortgage loan industry. You will have access to this eTextbook including benefits such as sharable notes, flashcards, and study guides for one year.

*Includes 8 Hour SAFE Comprehensive: 2022 Mortgage Loan Originator Course.

Package Content:

State Requirements For Puerto Rico

 Puerto Rico 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:

he 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.


 

Puerto Rico Contact Details for Mortgage Pre-Licensing Education

Puerto Rico Bureau of Financial Institutions - Regulation and Licensing Division
Phone: 787-723-3131 ext. 2214 or 2197
Email: reglamentacion@ocif.pr.gov
Website: Puerto Rico Bureau of Financial Institutions

NMLS Resources for Mortgage Pre-Licensing Education

Puerto Rico MLO License Description Page
Professional Standards: Mortgage Education
Professional Standards: Criminal Background Check
Professional Standards: Credit Report
Professional Standards: MLO Testing