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AllRegs, the leading information provider for the mortgage lending industry, is pleased to announce that AllRegs Academy has become an approved NMLS training and mortgage education course provider (#1400024) through the Nationwide Mortgage Licensing System & Registry (NMLS). The Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act) requires that pre-licensing and continuing education courses be approved by the NMLS. The NMLS was established in 2004 as an initiative of state mortgage regulators in order to provide a standardized system aimed at streamlining the mortgage licensing process.
Established as part of the Housing and Economic Recovery Act in 2008, the SAFE Act is intended to improve consumer protection and reduce fraud through establishing various licensing standards. Currently, 20-hour pre-licensing and 8-hour continuing education courses are set as the minimum requirements in every state. In order to meet these SAFE Act requirements, courses must be approved by the NMLS.
To find out more about your state requirements and AllRegs NMLS training approvals, visit AllRegs' Continuing Education Resources.