The Conference of State Bank Supervisors (CSBS) announced the new National SAFE MLO Test with a uniform state component will be available on April 1, 2013.
By taking the new test, 24 state agencies will no longer require a second state specific test to be taken by mortgage loan originators looking to get approved.
With the implementation of the new National SAFE MLO Test with a uniform state component, 20 state agencies – Delaware, Georgia, Idaho, Indiana DFI, Iowa, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, New Hampshire, North Carolina, North Dakota, Pennsylvania, South Dakota, Texas OCCC, Utah DFI, Virginia, Washington, and Wisconsin – will no longer require a state-specific test component as of April 1, 2013.
Additionally, four state agencies – Alaska, Kansas, Nebraska, and Vermont – will remove their requirement for a state-specific component on July 1, 2013. Remaining state agencies will continue to require state-specific test components, though additional states are eventually expected to adopt the new National SAFE MLO Test with a uniform state component.
“The development and adoption of the new National SAFE MLO Test with a uniform state test component streamlines the license process for MLOs seeking licenses in multiple states,” said Bob Entringer, Commissioner of the North Dakota Department of Financial Institutions and Chairman of the State Regulatory Registry LLC. “We’re announcing now, weeks before the launch of the new National SAFE MLO Test, so MLOs can plan and prepare to take full advantage of the benefits provided by this initiative.”
View more information about the new test here.