Virgin Islands Pre-License Education (PE)
for Mortgage Loan Originators (MLO)
Pre-license education, often called PE or NMLS pre-licensing, is a mandatory training program required by federal law for all aspiring Mortgage Loan Originators (also known as Loan Officers). The SAFE Mortgage Licensing Act requires all MLO candidates to complete 20 hours of pre-license education. Complete these course hours in a virtual classroom or through an interactive, online instructor-led course. Want to know more about the licensing process? Click here.
Mortgage Loan Originator License Program Options
Choose a Program to Enroll
The program listed below includes the Pre-Licensing Education (PE) courses required by the NMLS to apply for a Virgin Islands Mortgage Loan Originator license and the Exam Prep course to help you prepare for the licensing exam.
National SAFE Comprehensive MLO Fundamentals Program
Package Includes
- 20 Hour SAFE Comprehensive Course (Satisfies national NMLS Requirement)
- National Loan Originator Exam Prep Course (Free retakes for 1 year from date of purchase)
- Printed & Digital Course Materials (Shipping fees may apply)
- Click Here for Important Information
Important Information Related to National SAFE Comprehensive MLO Fundamentals Program:
Textbook(s): A textbook is required to participate in any Live Broadcast class. Please obtain before the first day of class.
NMLS Missed Time Policy: As required by the NMLS, students in Loan QE/CE courses cannot miss more than 10 minutes of cumulative class time. Students who miss more than 10 minutes will be required to re-schedule at no charge.
Regarding the Online Instructor-Led Course, Please Note: This course combines interactive online modules with required instructor interaction. The course must be completed within a specified 7-day window and requires students to complete online modules by specific deadlines. Students must also attend several required Zoom sessions with an instructor to ask questions and review important topics. Failure to attend a session will result in the student being dropped from the course and forced to reschedule.
Please Note: Some Online Loan courses are offered via a 3rd-Party provider so pricing and other details may differ.
CloseNEW Delivery Method for
20-Hour SAFE Course!
Online Instructor Led
Our thoughtfully designed online courses offer an engaging learning experience featuring a sleek and intuitive interface, captivating videos, and interactive activities that ensure you learn the NMLS aligned material to succeed in this exciting career.
NMLS Required Pre-Licensing Education (PE) Courses
The following courses are required by the Virgin Islands Division of Banking and Insurance (VIDBI) and must be completed by every license applicant.
20-Hour SAFE Comprehensive: Mortgage Loan Originator Fundamentals
20 Credit Hours (NMLS) Loan Origination QEThis course will provide the student with a comprehensive review of the Federal laws, ethics, and lending principles essential for their development and advancement as a residential mortgage loan originator. At the conclusion of the course, the student will understand the major provisions of the Real Estate Settlement Act, the Truth in Lending Act, the Equal Credit Opportunity Act, the Secure and Fair Enforcement for Mortgage Licensing Act, and other Federal Acts.
- NMLS Provider #1400073
- Click Here for Important Information
Important Information Related to 20-Hour SAFE Comprehensive: Mortgage Loan Originator Fundamentals Course:
Textbook(s): A textbook is required to participate in any Live Broadcast class. Please obtain before the first day of class.
NMLS Missed Time Policy: As required by the NMLS, students in Loan QE/CE courses cannot miss more than 10 minutes of cumulative class time. Students who miss more than 10 minutes will be required to re-schedule at no charge.
Regarding the Online Instructor-Led Course, Please Note: This course combines interactive online modules with required instructor interaction. The course must be completed within a specified 7-day window and requires students to complete online modules by specific deadlines. Students must also attend several required Zoom sessions with an instructor to ask questions and review important topics. Failure to attend a session will result in the student being dropped from the course and forced to reschedule.
Please Note: Some Online Loan courses are offered via a 3rd-Party provider so pricing and other details may differ.
CloseStand-Alone Exam Prep Course
The following course is designed to prepare you for the Mortgage Loan Originator (MLO) licensing exam. This course is also available at a discounted rate when purchased together in the 20-Hour PE program listed above.
Loan Originator Exam Prep
Not for Credit Loan Origination PREPThis 3-day course is an intense preparation course for the National Exam. Our intensive prep material is similar to the actual exam and updated regularly to help our students benefit from a high passing rate on their first attempt! The material covers all sections of the loan Originator National exam. Our course is designed to increase your powers of recall and confidence, and help renew your learned skills fast!
This course includes math, test taking techniques, discussion questions, terminology and mock exams, all designed to enable you to target the most relevant topics and thoroughly understand all of the materials.
- Includes Free Retakes for 1 Year after purchase - If you have paid for this course within that time period, you may contact a Champions campus or email our online support team to schedule a retake at no charge.
- All Classroom & Virtual Enrollments Include the Online Version
- Click Here for Important Information
Important Information Related to Loan Originator Exam Prep Course:
Please Note: Starting March 1, 2019, Champions will assess a $10 "No-Show" Fee before rescheduling any PREP class student who misses a class (Classroom) that they were scheduled to attend.
Please Note: Students who purchase our Exam Prep course are entitled to FREE retakes for 1 year after the initial enrollment. If you would like to schedule a retake of this course, please contact a Champions campus to speak with a Counselor or reach out to our online support staff via email or our online chat tool.
CloseSteps to Earning a Mortgage Loan Originator (MLO) License
Step
Step 1: Create an Individual User Account with the NMLS
Visit www.statemortgageregistry.com to setup your username and password. Be Sure to bring your NMLS number to class.
Step
Step 2: Complete the required 20-Hour SAFE Comprehensive Course
Students who apply for their LO License with NMLS will be required to complete the 20-Hour SAFE course and pass the National Exam. We offer a package containing everything necessary to satisfy these requirements.
Step
Step 3: Register for our Loan originator Exam Prep course
Register for our 3-day Loan originator Exam PREP course to prepare for the National Test. Remember, once you pay the initial fee for the PREP you may re-take our PREP as many times as you want at no charge for one year!
Step
Step 4: Login to your NMLS Account and register for the NMLS National Exam
Prior to scheduling your licensing exam with Prometric, the exam must be paid for via the NMLS.
- The cost of the exam is $110
- You must sign the Candidate Agreement before being able to schedule your exam
- The National Test consists of 120 multiple choice questions and is timed (190 minutes).
- Click here for a step-by-step guide for scheduling your exam.
Once you have paid for your exam you will have 180 days to make your appointment and take the test. If you have paid and are ready to schedule, please contact Prometric. Please note that there is a 30-day waiting period for exam retakes. If you do not pass after two retakes, there is a 6-month waiting period. A test enrollment must be requested and paid for in NMLS prior to scheduling.
Step
Step 5: Submit MU4 Form to the National Licensing System as well as the Criminal Background Check, Fingerprints, and Credit Report Request
Submit the MU4 Form through the NMLS website. Through the MU4 log in - select Filing/Individual. The individual licensing fee is $100 including the NMLS processing fee. The application fee will vary by license type. Applicants are required to request a Criminal Background Check ($36.25) and the Credit Report Request function ($15).
