Mississippi Mortgage Loan Originator MLO Pre-licensing Requirements

New state-licensed MLOs are required to complete 20 hours of NMLS

hours of ethics (which shall include fraud, consumer protection, and fair lending issues), 2 hours of non traditional mortgage lending, plus 8 hours of undefined education (referred to as electives) + 4 hours of MS law.  Number of hours is 3/3/2/8/+ 4hrs of MS law = 20

Mississippi has a requirement for 4 hours of instruction on state-specific law (MS S.A.F.E Mortgage Act) which may be satisfied by either taking a MS comprehensive course or a state-specific elective course.

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

Mississippi Mortgage Loan Originator MLO Continuing Education Requirements

If you are already a licensed MLO in the state of Mississippi, you don’t need to take PE (unless you have been instructed by the NMLS to do so). You do need to complete at least 12 Hours of NMLS approved continuing education every year following the completion of your PE requirements.

Every state-licensed MLO (in any approved status) is required to complete at least 8 hours of NMLS approved education annually beginning the year they are licensed (unless PE was completed in the same year).  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, 3 hours of electives, plus 2 hours of MS-specific education (MS SAFE Act of 2009). Number of hours is 3/2/2/3 + 2hrs of MS law = 12

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.

Our 8 Hour SAFE course satisfies these requirements when combined with a 4 hour MS law module. Click here if you need to complete your continuing education and select the 8 hour course that meets your needs. Remember, you can’t repeat the same course two years in a row! If you can’t recall which course you took last year, give us a call, or shoot us an email!