Minnesota Mortgage Loan Originator MLO Pre-licensing Requirements

Minnesota does not have any state specific PE requirements in addition to the initial 20 hours of SAFE education. If you haven’t completed your initial 20 hours of SAFE education, click here to view our 20 Hour SAFE options.

This state is a UST state and has adopted the Uniform state test added to the National test. If you want to be licensed in this state and have not taken the newest National test with UST included. Then you will want to take the UST stand alone. To purchase study material click here

Nationwide Mortgage Licensing System (NMLS) your course completion record is posted on the NMLS, you pay for the exam and schedule the exam through the NMLS, and after successfully passing your NMLS exam on your first attempt using our extremely comprehensive and effective test preparation program you apply for all licenses and renewals on the NMLS.

Do you have your NMLS number yet?

If you have not done so already, it takes 1 -2 minutes to get your NMLS number.
https://www.statemortgageregistry.com/Public/Login.aspx
Click “Request an account”
Click “Individual”

We try to make all of these things easier, what questions may we answer? Use the chat feature on the bottom right corner of every web page to get answers now!

Minnesota MN Prelicensing Education PE Requirements

New state-licensed MLOs are required to complete 20 hours of NMLS approved education. This education must include 3 hours of Federal law, 3 hours of ethics (which shall include fraud, consumer protection, and fair lending issues), 2 hours of non-traditional mortgage lending, plus 12 hours of undefined education (referred to as electives).  Number of hours is 3/3/2/12/= 20

Minnesota does not have a requirement for instruction on state-specific law.

Continuing Education Requirements

Every MN Mortgage Lender licensee (in any approved status) is required to complete at least 8 hours of NMLS approved education annually beginning the first year of licensure (the chart below is NOT applicable to the Mortgage Lender licensee).  The individual listed as the Qualifying Individual (on the MU1) must satisfy the CE requirement for the MU1 location and the individual listed as the Branch Manager (on the MU3) must satisfy the CE requirements for the MU3 location.   Annual CE education must include 3 hours of Federal law, 2 hours of ethics (which shall include fraud, consumer protection, and fair lending issues), and 2 hours of non-traditional mortgage lending, 1 hour of elective on MN law  Number of hours is 3/2/2/+ 1hr MN Law elective = 8

MLOs are advised that to comply with the SAFE Act’s “successive years” rule, they may not take the same CE course two years in a row. MLO’s are advised not to retake pre-licensure education (PE) unless directed to by a State Regulator.  PE education does not count towards meeting annual CE requirements.

Am I required to take Continuing Education this year?
If I completed SAFE Act PE in 2009,

2010, 2011, 2012, 2013, 2014, or 2015, 2016, 2017, 2018, 2019

and I was licensed in 2009, 2010, 2011, 2012, 2013, 2014, 2015, or 2016, 2017, 2018 2019 am I required to complete CE in 2020 YES
If I completed SAFE Act PE in 2020 and I was approved for an initial license in 2020 am I required to complete CE in 2020 No

Deadline

The deadline to complete CE is December 31, 2020.  However, both Mortgage Lender Licensees and MLOs in Minnesota are prohibited from submitting an application to renew their license if they have not completed CE.  Since it may take as long as seven (7) days for a course provider to report a course completion into NMLS, licensees are strongly encouraged not to wait until the last minute to try to complete CE or they may be prevented from submitting for renewal on time.

This state is a UST state and has adopted the Uniform state test added to the National test. If you want to be licensed in this state and have not taken the newest National test with UST included, you will need to take the National Component NMLS exam with the Uniform State Test (UST). Click here to see test preparation options.

If you don’t see any PE courses scheduled please call our office at 317-201-7612 and speak with one of our Mortgage Education Specialists about newly scheduled classes and private events.