Take the steps to become SAFE compliant – enroll in SAFE mortgage classes online. The SAFE Mortgage Licensing Act requires MLOs and real estate professionals performing MLO activities to meet specific requirements. Keep your career moving forward – choose an NMLS approved course provider today for your pre-licensure education and exam prep.
To become a MLO in Illinois you need to be eighteen years of age and submit to a criminal background check as well as a credit check.
Before you can take the Illinois MLO exam you must first complete and pass 20 hours of NMLS approved MLO pre-license education.
MLO employers prefer to hire candidates that have a background in sales, mortgage lending or banking, but no specific career history is necessary to become a mortgage loan originator.
The Illinois state MLO exam consists of national and state components. Test-takers will need to receive a passing grade of 75% on each of them in order to receive their MLO license.
Testing centers do not allow test-takers to bring any personal items including cell phones, purses, and calculators. It’s advised to leave your personal belongings at home or safely locked in your vehicle. Scratch paper and a basic calculator will be provided at the test center.
MLOs must take at least 8 hours of continuing education each year after receiving your license and completing your initial 20 hours of MLO pre-license education.
For over twenty years Allied Real Estate Schools has been providing real estate education for the working professional trying to reach their career goals. Allied offers an up-to-date and reliable education helping students to reach and maintain their real estate careers.
*For the most accurate and up-to-date MLO license information please check the NMLS website.
Enroll now or talk with an Allied Representative today.
If you require the 20-Hour SAFE Mortgage Loan Originator Comprehensive Course and SAFE MLO National Exam Online Prep w/UST, the National SAFE MLO Fast Track Package has exactly what you need to help you meet your 20 hours of pre-license education and prepare for the national component of the state exam.
The 20-Hour SAFE Mortgage Loan Originator Comprehensive Course is designed to satisfy the pre-licensing education requirements for a mortgage loan originator by providing an education that requires regular attendance and participation in an online environment, covering federal laws and regulations (including TILA-RESPA Rule), ethics, lending standards for the non-traditional mortgage product marketplace, as well as loan products and programs, underwriting and settlement procedures.
The SAFE MLO National Exam Online Prep w/UST is designed to prepare existing and aspiring mortgage loan originators for the national component of the state exam as required by the SAFE Act (i.e. Secure and Fair Enforcement for Mortgage Licensing Act), with a UST category that covers: Mortgage Regulatory Commission, state law and regulation definitions, license law and regulations and compliance.