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American School of Business
 

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NMLS Approved Provider #1400050
20 Hour SAFE Course # 1094
New Jersey State Specific NMLS#1178
IMPORTANT INFORMATION
American School of Business, has partnered with the Association of Mortgage Educators
(NMLS Provider ID: 1400214) to offer online SAFE MLO Pre-Licensing, NMLS Approved Continuing Education, and SAFE MLO Exam Preparation.
 
TO FULFILL THE NEW NMLS REQUIREMENTS!
 

All NJ Loan Originators must complete 20 hours of Pre-Licensing Education and Pass a State and National Test.

MLO TESTING HANDBOOK (required by NMLS)!
 

CLICK HERE to view and download the NMLS Testing Handbook


COURSE DESCRIPTION
 

Mortgage Lending is a profession that requires knowledge of many disciplines, including real estate, finance & appraising to be effective.  Our courses are designed to give you the information you need to pass your licensing exam(s) and successfully enter the mortgage profession whether it be in sales, processing or underwriting.

Laws affecting mortgage industry were placed into effect in July 2009.
The new laws require that mortgage professional be licensed as Loan Originators in the State of New Jersey as well as many other states.
The American School of Business is approved by the NMLS – National Mortgage Licensing System to provide the required instruction to qualify
to take your national exam and state specific exams. NMLS Approved Provider #1400050.

The American School of Business is dedicated to providing programs that are designed to fulfill the current as well as any future educational requirements.  We offer programs to fulfill all of your educational needs including classroom, private group, and online training.  For online training visit us on the web at www.americanschoolnj.com and check out our programs that are approved in several states. 

We also suggest looking into our Real Estate Salespersons course as it will help establish a solid foundation for your new career.

PRESS RELEASE

 

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."

 

COURSE OUTLINES

20 Hour SAFE Comprehensive Mortgage Loan Originator Course with Uniform Standards “UST”
  *

Review the MLO Testing Handbook

* Mortgage Industry Overview & The Business of Real Estate
*

The Mortgage Lending Process & The Value of Real Estate

* Uniform State Test Requirements
*

Finance Instruments & Federal Mortgage Legislation

* Conventional Financing & Government-backed Loans
*

Nontraditional Mortgage Products

* Legal Concepts & Interests in Real Property
*

The Value of Real Estate & The Mortgage Lending Process

* Understanding Appraisals & Ethics in the Mortgage Lending

7 Hour Exam Prep and Refresher Course w/ UST

  *

Purpose and Provisions of SAFE Act

* Predatory Lending
*

RESPA and TILA

* Compensation Rules
*

Good Faith Estimates and HUD

* High Level State Content Topics
* Provisions of Federal Laws * UST
* Nontraditional Loan Products * Hundreds of Practice Questions
* Adjustable Rate Mortgages * Reverse Mortgages
* Buy-down Plans * Consumer Protection
* Protected Classes * Mortgage Fraud

4 Hour NJ & 3 Hour NY State Specific Coures

  *

NJ Department of Banking and Insurance

* State Law and Regulation Definitions
*

Residential Mortgage Lending Act

* Regulations & Compliance
*

Disciplinary Action

* Unique State Test Areas


WHO IS REQUIRED TO TAKE THIS COURSE?
  All Mortgage Originators/Loan Officers/Account Executives, All Mortgage Bankers and Brokers.

COURSE TUITIONS & DISCOUNT PACKAGES:
(Course Book & Additional Course Materials are included with your full tuition)

Note Package price applies ONLY when registering and paying in full on or before the first day of class and can not be combined with any other discounts or offers.

Each course includes a textbook and additional course materials.

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