North Dakota Mortgage Education
EasyRealEstateSchool.com offers these North Dakota 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 who for compensation or gain or in the expectation of compensation or gain:
- Takes a residential mortgage loan application; or
- Offers or negotiates terms of a residential mortgage loan.
Who does not need this license?
- An individual engaged solely as a loan processor or underwriter.
- A person or entity that only performs real estate brokerage activities and is licensed or registered in accordance with North Dakota law, unless the person or entity is compensated by a lender, a mortgage broker, or other mortgage loan originator or by any agent of such lender, mortgage broker, or other mortgage loan originator.
- A person or entity solely involved in extensions of credit relating to timeshare plans, as that term is defined in 11 U.S.C. 101(53D).
- Registered mortgage loan originators, when acting for an entity described in subdivision (a) of subsection 11 of North Dakota Century Code section 13-10-02.
- Any individual who offers or negotiates terms of a residential mortgage loan with or on behalf of an immediate family member of the individual.
- Any individual who offers or negotiates terms of a residential mortgage loan secured by a dwelling that served as the individual’s residence.
- A licensed attorney who negotiates the terms of a residential mortgage loan on behalf of a client as an ancillary matter to the attorney’s representation of the client, unless the attorney is compensated by a lender, a mortgage broker, or other mortgage loan originator or by any agent of such lender, mortgage broker, or other mortgage loan originator.
Pre-requisites for registration applications?
- Pre-licensure certification
- A Passing Score on a National and State Mortgage Test
- Satisfactory criminal background check including finger prints
- ND DFI satisfactory review of a credit report
- License Sponsorship in NMLS by your company
For more information about the actual course please visit Mortgage Education Course FAQ’s.
North Dakota State Requirments
SAFE ACT Requirements
- SAFE MLO Test – All licensees must pass the National and State Components of the SAFE MLO Test by 7/31/2010.
- Criminal Background Check - All licensees must submit fingerprints through NMLS for a criminal background check by 7/31/2010.
- Credit Report – All licensees must authorize a credit report through by 7/31/2010.
North Dakota Mortgage Education Requirements
- SAFE Act Pre-License (Required courses – SAFE CORE 8 hours) – All new applicants on or after 7/31/2010 must have completed 20 hours of NMLS approved pre-licensure education. Existing licensees must complete 20 hours of state approved pre-licensure education by 7/30/2010.
- SAFE Act Continuing Education (Required courses – SAFE CORE 7 hours) – All licensees must take 8 hours of NMLS approved continuing education in 2010 in order to renew for 2011, unless PE was taken in 2010. This course should be taken Yearly by 12/31.
For more information about the actual course please visit Mortgage Education Course FAQ’s.