AllRegs 20 Hour Mortgage Loan Originator SAFE Comprehensive Course Receives Approval by the NMLS

Currently, 20-hour pre-licensing and 8-hour continuing education courses are set as the minimum requirements in every state under the SAFE Act. In order to meet these SAFE Act requirements, courses must be approved by the NMLS. AllRegs' 20 Hour Mortgage Loan Originator SAFE Comprehensive coursework fulfills the entire 20-hour pre-licensing requirement.

"We are happy to announce that AllRegs' 20 Hour Mortgage Originator SAFE Comprehensive course has been granted 'NMLS Approved' status," said Dan Thoms, senior vice president for AllRegs. "Now, Loan Originators will be able to fulfill their 20-hour pre-licensing requirement with this single, all-inclusive course. Additionally, lenders are already calling us now to provide a comprehensive training solution at their location. They are looking for this approved course, the practice assessment questions developed by AllRegs, and access to our State Compliance product to provide a best-in-class solution for meeting SAFE Act requirements and preparation."

The NMLS must "apply reasonable standards in the review and approval of courses" in order to approve a course to fulfill SAFE Act requirements. The NMLS has established six criteria that a course must satisfy to gain approval. These criteria include:

• Possess Learning Objectives
• Course Must Have Sufficient Material
• Sufficient Difficulty
• Be of Sufficient Length
• Be Delivered in an Environment Conducive to Learning
• Have a Defined Start and End Time

AllRegs' 20 Hour Mortgage Loan Originator SAFE Comprehensive course has successfully met all of the listed criteria.

"This approval brings AllRegs one step closer to achieving our goal of being the premier source for SAFE Act education and helping industry professionals meet their licensing requirements," Thoms added.

State-licensed mortgage loan originators currently are required to have the 20 hours of pre-licensing education completed by January 1, 2011 or an earlier date set by each state. Non-licensed mortgage loan originators must have their pre-licensure education completed by July 30, 2010 or a deadline determined by the regulator of the state in which they do business.

To learn more about the 20 Hour Mortgage Loan Originator SAFE Comprehensive course, or for more information about any of the products AllRegs Academy has to offer, please visit www.allregs.com or call (800) 848-4904.

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.

AllRegs
Krista Sabol, 651-289-4809