AllRegs Announces New NMLS Approved Continuing Education Courses to Fulfill SAFE Act CE Requirements |
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Eagan, Minn. (Mar. 01, 2010). AllRegs, the leading information provider for the mortgage lending industry, is excited to announce the approval of four Continuing Education courses by the Nationwide Mortgage Licensing System & Registry (NMLS). These new NMLS course approvals follow the approval of AllRegs’ Pre-Licensing course, the 20 Hour Mortgage Originator SAFE Comprehensive (Course Number 1013), on August 17, 2009. AllRegs became an Approved Education Provider (#1400024) by the NMLS on July 7, 2009.
The following AllRegs courses have been approved for Continuing Education:
| Course Name | Course ID | Type | Category | Hours |
1 Hour SAFE Elective: Fair Lending – The Essentials |
1255 |
CE Online Self Study | CE Elective | 1 |
2 Hour SAFE Ethics: Fraud and Fair Lending: Consumer Protection |
1256 |
CE Online Self Study | CE Ethics | 2 |
2 Hour SAFE Non-Traditional Mortgages: FHA and Guaranteed Rural Housing |
1257 |
CE Online Self Study | CE Nontraditional Mortgage | 2 |
3 Hour Safe Federal Law: ECOA, HMDA, TILA |
1258 |
CE Online Self Study | CE Federal Law | 3 |
These courses, along with 40 other titles, are available in the AllRegs Education Package, a site-based subscription that allows all employees at a location access to included training for only $600 per year.
The Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act) mandates a minimum of 20-hour pre-licensing (PE) and 8-hour continuing education (CE) courses in every state. In order to satisfy these requirements, courses offered to state-licensed mortgage loan originators must be approved by the NMLS. Continuing education courses must include at least:
- 3 hours of Federal law and regulations
- 2 hours of ethics, to include instruction on fraud, consumer protection, and fair lending issues
- 2 hours of training related to lending standards for the nontraditional mortgage product marketplace
- 1 hour of elective credit
“We are happy to announce that AllRegs has received NMLS Approval for eight hours of SAFE Act continuing education courses,” said Dan Thoms, senior vice president for AllRegs. “These courses have been added and made available to all AllRegs Education Package subscribers. Now organizations have more reason to invest in education through AllRegs.”
The NMLS has established six criteria that a course must satisfy to gain approval. These criteria dictate that a course must possess learning objectives, have sufficient material, be of sufficient difficulty and length, be delivered in an environment conducive to learning and have a defined start and end time. AllRegs’ arsenal of NMLS approved courses has successfully met all criteria.
To learn more about the NMLS Approved Continuing Education courses, subscribe to the AllRegs Education Package, or for more information about any of the products AllRegs has to offer, please visit www.allregs.com or call (800) 848-4904.
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About AllRegs
First introduced in 1989, AllRegs is used by virtually all of the top 100 lenders as well as throughout numerous governmental agencies, including Fannie Mae, Freddie Mac, the FHLBs, FHA, VA, RHS, Ginnie Mae, and more. AllRegs is a Mortgage Technology Magazine Top 50 Service Provider for 2009 and the exclusive electronic publisher of the Fannie Mae and Freddie Mac Single and Multi-Family Seller/Servicer Guides, The Federal Home Loan Banks’ MPF Program Guidelines, and CalPERS’ Member Home Loan Program Guidelines. Products include single and multifamily underwriting & insuring guidelines as well as federal compliance laws and regulations, state compliance laws and regulations with plain-language analyses, policy and procedure manual templates, contract publishing services and a library of historical guidelines. The educational division, AllRegs Academy, offers distance learning, classroom training and practical guides, with courses approved for continuing education. AllRegs is FICO’s preferred training provider for the mortgage industry and the official training provider for the National Association of Mortgage Brokers (NAMB). For more information, call (800) 848-4904 or go to www.allregs.com.
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