Kentucky Mortgage Education
EasyRealEstateSchool.com offers these Kentucky mortgage education courses in conjunction with MortgageEducation.com. All the mortgage education courses are NMLS-approved and will satisfy all the required education hours for your state. Should you have any questions please feel free to contact MortgageEducation.com.
Who is required to have this license?
Any individual of a licensed mortgage entity, HUD Exempt Company, or Exempt Non-Profit organization who discusses or negotiates the rates, terms, and conditions of a loan with a borrower or prospective borrower. Individual who works for a consumer loan or finance company.
Who does not need this license?
- Loan processor who works under the instruction of a loan officer or mortgage loan broker and performs only clerical functions such as gathering information, requesting information, word processing, sending correspondence or assembling files.
- Individual who works for a bank, bank holding company, trust company, credit union, savings and loan association, service corporation subsidiary of savings and loan associations, insurance company, and real estate investment trust.
- Wholly-owned subsidiary of those listed above.
Pre-requisites for license applications
- Criminal background check: Yes.
- Pre-Licensure Education: 20 hours
For more information about the actual course please visit Mortgage Education Course FAQ’s.
Kentucky State Requirments
SAFE ACT Requirements
- SAFE MLO Test – All licensees must pass the National and State Components of the SAFE MLO Test by 6/30/2010.
- Criminal Background Check – All licensees must submit fingerprints through NMLS for a criminal background check by 6/30/2010.
- Credit Report – All licensees must authorize a credit report through NMLS by 11/30/2010.
Kentucky Mortgage Education Requirements
- SAFE Act Pre-License (Required courses – SAFE CORE 8 hours) – All new applicants on or after 11/1/2009 must have completed 20 hours of NMLS approved pre-licensure education. Existing licensees must complete 20 hours of NMLS approved pre-licensure education by 11/1/2009. State approved courses will no longer be accepted after 11/1/2009.
- SAFE Act Continuing Education (Required courses – SAFE CORE 7 hours) – All licensees must take 12 hours of NMLS approved continuing education, including 4 hours of KY specific, in 2010 in order to renew for 2011, unless PE was completed in 2010. This course should be taken Yearly by 12/31.
- Certification (Education) – Currently licensed MLOs who have completed at least 20 hours of KY State approved education on or before 11/1/2009 may be eligible to participate in the PE certification process and may not need to take the NMLS approved pre-licensure education. Refer to your state agency for more information.
For more information about the actual course please visit Mortgage Education Course FAQ’s.