The American School of Business, a leading education provider for the real estate industry, has gained approval as a mortgage education course provider through the Nationwide Mortgage Licensing System & Registry (NMLS). The Secure and Fair Enforcement for Mortgage Licensing Act (S.A.F.E. 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 S.A.F.E. 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 S.A.F.E. Act requirements, courses must be approved by the NMLS.
The criteria for granting course provider approval established by the NMLS includes course quality and rigor, student satisfaction, ensured instructor qualifications, provided evidence for satisfactory course completion, and legal/business integrity. The American School of Business has successfully met all of the established criteria, allowing ASB to take the next step in submitting specific pre-licensing and continuing education coursework for approval by the NMLS.
"We are proud to have been deemed an approved mortgage education provider by the National Mortgage Licensing System & Registry, and thank the NMLS team for their commitment to building this industry-Wide, federally-mandated licensing and registry initiative," said Edward Davies, Director for The American School of Business. "At ASB, we are committed to helping our customers stay compliant with the industry's changing regulations while meeting their education and training needs. It is our goal to be the premier source for S.A.F.E. Act continuing education and help industry professionals meet their licensing requirements."