Get your South Dakota MLO license education and become S.A.F.E. compliant. Allied has online courses that will help you reach your goals throughout your MLO career with continuing education courses and state exam preparation materials. Select your package below to get started.
MLOs are responsible for reviewing loan applications to determine whether a borrower should be approved for the loan and whether the information in the loan file is accurate.
There are two components test-takers are required to pass for the state MLO exam process. The first section is state focused and the second is a national portion. To pass the test, you will need to score a 75% or better on both sections to receive your MLO license.
Test preparation materials are not required for the state exam but are highly recommended due to the difficulty of the exam. With a waiting period between failed attempts it’s best to be fully prepared for the state exam the first time around to save yourself time and money.
It is advised to leave all personal belongings at home or in a secure place when you go to take your MLO exam. This includes phones, purses and calculators. Everything you need to take your exam will be provided by the testing center.
An additional 8 hours of CE is required each year after you have completed and passed your initial MLO license education.
You will be able to retake the exam after 30 days. However, after the 3rd failed attempt there is a 180 day waiting period. Each time you retake the exam you will have to pay additional test fees.
Secure and Fair Enforcement for Mortgage Licensing Act of 2008, or S.A.F.E., was implemented to increase consumer protection and reduce fraudulent behavior by requiring all states to meet specific testing standards through the NMLS.
Allied Real Estate Schools has been providing a reliable real estate education for more than 20 years. With Allied, you can take your courses 100% online and get live professional assistance throughout your education and your career.
*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.