I received a call today from a CA broker who had recevied this email from the DRE:
California - DRE has agreed to certify you for SAFE Pre-Licensure Education or the State Component of the SAFE Mortgage Loan Originator Test. To complete the Certification process you must pay a fee of $15.00 for Pre-Licensure Education Certification or $5.00 for the State Test Component Certification. The invoice will indicate the certification you are paying for.
They took this email to mean that they did not have to take the State and National Mortgage Loan Originator exams required by NMLS and that they could just pay the fee and be licensed and certified.
So I called up the DRE and after being on hold for roughly 26 minutes, got some clarification on this matter. EVERYONE (yes, brokers, officers, you, and me) is REQUIRED to take and pass BOTH the National and State Mortgage Licensing Exams. What the DRE is saying in their email is that they will certify your pre-license education. Which means that you will not be required to take the 20 hours of licensing education. But you still have to pay the fee :)
However, in order for your pre-licensing education credits to be counted you MUST have all of your NMLS requirements done by AUGUST 31!!! After this date the DRE will no longer certfiy your continued educationa and you will have to take the 20 hour course.
I hope that cleared up any questions brokers or loan officers may have had about their requirements. For more information on state requirements and how you can pass your exam with flying colors check out http://www.thehughesschool.com
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