NMLS Course ID: 15131
NMLS Sponsor ID: 1400327
Credit Hours Provided: 2
Category: PE Elective
This course is designed to prepare candidates to take the exam to become a state-licensed mortgage loan originator in Indiana under the Indiana Secretary of State (SOS), Securities Division. This 2-hour course covers Indiana specific rules and regulations, and is required as part of the 20 hours of prelicensure education needed to become an Indiana licensed mortgage loan originator.
This course consists of three modules and a final exam:
Requirements for Licensure
Enforcement, Discipline, and Prohibitions
Total study time: 2 credit hours (100 minutes)
At the end of this course, you will be able to:
describe the licensing requirements for mortgage loan originators, principal managers, and mortgage brokers.
outline the fingerprint requirements collected during the licensing process.
identify the role and licensing requirements of a Principal Manager.
recognize the requirements for documenting license numbers on the Loan Broker Agreement.
describe the document requirements for a residential mortgage loan file.
outline the limitations on certain fees that are collected at loan closing.
review prohibited acts and practice that may harm consumers or result in disciplinary action taken against a licensee.
outline the Commissioner's authority to make rules, hold hearings, and issue orders.
list the fines and sentencing guidelines for participating in activity prohibited by Indiana mortgage regulations.
You must have an NMLS ID to receive credit for this course. You will need this number before you begin the course.
If you already have an NMLS ID but don't remember what it is:
Login into NMLS
Click on the Composite View tab.
Click View Individual on the sub-header row.
The number that appears in parentheses after your name is your NMLS ID number.
If you do not have an NMLS ID and need to obtain one, use the instructions available in the NMLS Resource Center:
This course will remain available to students for 365 days after enrollment.
+ $3.00 NMLS Credit Banking Fee
|Vocational Training > Mortgage > License Training > Indiana > PE Elective
|Mandatory Indiana state-specific component for INSOS mortgage licensee applicants
Purchase of this package requires that you read and acknowledge an Enrollment Agreement before receiving credit for any courses contained in this package. Please review the following:
To provide superior distance education that exceeds industry standards and expectations in course content and delivery methods to those who seek to enter a new profession and those engaged in a profession.