The number of states implementing a uniform mortgage loan officer test now stands at 30, following the addition of ten new state agencies, according to the Conference of State Bank Supervisors (CSBS).
States adopting the National Secure and Fair Enforcement (SAFE) test for mortgage loan originators (MLO) include Alabama; Alaska; Indiana; Kansas; Montana; Nebraska; New Jersey; Tennessee; Vermont; and Wyoming.
First made available on April 1, 2013, the SAFE test combines both the national and state testing requirements for originators seeking licenses in multiple states.
Twenty state agencies initially adopted the National SAFE MLO test in April, as well as three more jumping aboard several weeks later.
“Today’s adoption of the new National SAFE MLO test by these agencies makes the application process easier for individuals seeking mortgage loan originator licenses in their state,” said Bob Entringer, commissioner of the North Dakota Department of Financial Institutions and chairman of the State Regulatory Registry, LLC.
To date, a total of 30 state agencies are using the uniform state test, and according to CSBS, an additional five state agencies are scheduled to adopt the test by January 2014.
View more information on the National SAFE MLO test here.
Written by Jason OlivaPrint Article