The SAFE Act is designed to enhance consumer protection and reduce fraud by encouraging states to establish minimum standards for the licensing and registration of state-licensed mortgage loan originators and for the Conference of State Bank Supervisors (CSBS) and the American Association of Residential Mortgage Regulators (AARMR) to establish and maintain a nationwide mortgage licensing system and registry for the residential mortgage industry.
About Texas Mortgage Licensing
Texas Mortgage Bankers Association offers two courses that help you prepare for the new SAFE Act requirements.
TMBA’s 20 Hour Pre-licensing Course is not only designed for those who need to fulfill their pre-licensing requirement but also for those who want a little extra review for their exam and business practices.
The course includes a study of Federal law and regulations; ethics, fraud, consumer protection and fair lending; nontraditional mortgage products and Texas law and regulations pertaining to mortgage originations. The course is structured to provide a basic understanding and framework for legally and ethically originated mortgage loans and to prepare the student to pass both the national and state components of the SAFE Act mandated written examination. There is an extensive review to prepare students for both the state and national components of the SAFE Act exam.
Who needs to take this review course?
Individuals who obtained a Texas residential mortgage broker or loan officer license after 2003 are exempt from taking the SAFE Act - State Component of the qualification exam. However, you must still take and pass the National Component of the qualification exam in order to receive your license under the SAFE Act. Individuals who obtained a license before 2003 are required to take both the State & National Component of the qualification exam.
How can TMBA help you prepare?
TMBA offers our 7 Hour National Test Review Course which is designed as a review to help those who must take and pass just the National Component of the qualification exam. This material includes the key course elements listed below:
If you are one of those who need a full review of Texas and Federal residential mortgage licensing (laws, regulations, ethics, consumer protection, fraud, fair lending issues, lending standards and mortgage origination), you have the option to sign up for TMBA’s 20 Hour Pre-licensing Course which includes the 7 Hour National Test Review Course material.
Visit the training page for upcoming dates for both the 7 Hour and 20 Hour courses.
Please check back with us regularly for updates as they become available or sign up for automatic updates.