FAQ

PART 1: Getting Started

Q. What do I do to get enrolled for the class?
A. It’s EASY:

  1. Go to our website www.brokerschool.com
  2. Schedules
  3. Select Classroom Equivalent, Live Classroom or Online Self-Study
  4. Find the class date and times that work for you
  5. Click on REGISTER

Q. What do I do to register for the NMLS SAFE National and/or SAFE State exam?
A. CLICK HERE TO REGISTER FOR THE NATIONAL EXAM

Q. How do I obtain my Unique Identifier Number?
A. Open this PDF for instructions (PDF)

Q. I have already registered on NMLS, I have a Log In ID and password but I can NOT find my Unique Identifier number. How can I find this?
A. Open this PDF for instructions (PDF)

Q. How do I sign up for my NMLS SAFE Exam and/or SAFE State Exam?
A. Open this PDF for instructions (PDF)

Q. What do I need the day of class?
A. Open this PDF for instructions (PDF)

Q. What is NMLS charging for FL Licensee?
A. Open this PDF for information (PDF)

PART 2: Tell Me More About The Course

Q. What’s covered in the class?
A. 20 Hours Required Education for National SAFE Test

  • 3 hours of Federal law and regulations;
  • 3 hours of ethics, this shall include instruction on fraud, consumer protection, and fair lending issues;
  • 2 hours of training related to lending standards for the nontraditional mortgage product marketplace; and
  • 12 hours of undefined instruction on mortgage origination.

Q. What is the cost?
A.National/Federal SAFE 20 Hour Course $299
Florida SAFE 4 Hour Course $99

Q. Are there any additional costs?
A. Our course is ALL INCLUSIVE – Includes Textbook, Practice Exams, Study Guide, and AUDIO CDs (study tool). ***DVDs are available for additional fee.

Q. How does the LIVE ON LINE Class work?
A. This class is taught LIVE. Which means that you are watching as the instructor is teaching LIVE.

  • The instructor is on camera and has a microphone. Students do NOT have a Camera or Microphone.
  • Students will interact via CHAT, the facilitator will either answer questions for you via CHAT OR ask the Instructor to address the question directly in the class.
  • Attendance is CLOSELY monitored via POLLS sent out randomly each hour to ensure each student is present and paying attention.
  • Also, the Instructor gives you a LOT of information key to passing the exam to WRITE down – if you walk away from your computer you will miss these key concepts.
  • This is a LIVE ON LINE class – you cannot pause the class and walk away – there will breaks hourly and on the full Sat and Sun Classes there will be a 1 hour lunch break

Q. If I am taking the live on line class how will I receive my materials?
A. ~Textbook, Practice Exams, Study Guide will be EMAILED to you 2 days PRIOR to your class in a PDF format.
We do suggest that you print the Textbook as the instructor references this often for you to highlight information in the book.
~Your Audio CDs will be mailed the day you register for the class

Part 3- State Exam and National Exam

Q. When are the exams given?
A. All the time. You will register and pay the SAFE National and State exam on the NMLS website state for the exam. Once you have paid for the exams, you will be able to schedule the test for any day that’s convenient for you. Please follow instructions on NMLS website to find a testing center near you.

Q. Where is the Test Given?
A. Follow the instructions

Q. What is on the SAFE National Exam?
A.

  • 3 hours of Federal law and regulations;
  • 3 hours of ethics, this shall include instruction on fraud, consumer protection, and fair lending issues;
  • 2 hours of training related to lending standards for the nontraditional mortgage product marketplace; and
  • 12 hours of undefined instruction on mortgage origination.

Q. What is on the SAFE Florida state exam?
A. Florida Specific laws, rules, and calculations

Q. How many questions on the SAFE National Exam?
A. 100 (All multiple choice, 90 questions graded)

Q. What is passing score for the SAFE National Exam?
A. 75%

Q. How many questions on the SAFE FLORIDA Exam?
A. 60 questions (all multiple choice, 50 graded)

Q. What is passing score for the SAFE FLORIDA Exam?
A. 75%

Q. What if I fail either exam or do not take the exam?
A.

  • You will have to wait 30 days to retake the exam.
  • You will have to schedule another test with TESTING CENTER and pay NMLS their test fee again ($92 for SAFE National and $69 for SAFE State exams).
  • If you do NOT pass the exam after 3 attempts you will have to wait 6 months to retake the exam.

Q. When will I receive the license after I pass the test?
A. There will be no actual license issued, everything will be done electronically. Proof of licensure will be available on the NMLS website after you are approved.

Q. When and how will I get my results?
A. You will be given your test results before you leave the testing center. A print out of your score will be given to you at the end of the testing session.

Part 4- License Questions

Q. Why should I get a license?
A. Every state in the country requires, those persons who arrange loans tied to real estate with another’s money must be licensed to be paid. Also, to be paid a referral fee, finders fee, bird dog fee, etc., you must be licensed otherwise it’s a kickback.

Q. Who needs to be licensed.
A.

  • Mortgage Loan Originators (ALL STATES) – the only exemption are MLO’s that work for FDIC Banks.
  • Processors that process loans in Florida and Kentucky – the only exemption are MLO’s that work for FDIC Banks.
  • Underwriters that underwrite loans in Florida – the only exemption are MLO’s that work for FDIC Banks.
  • Loan Modifiers

Q. Once I am licensed, what must I do to be paid?
A. As a MLO you must place your license with a licensed mortgage broker business or lender.

Q. Can I take the class and/or exam without knowing where I am going to place my license?
A. Yes!

Q. Is this class approved for Real Estate Continuing Education & CPA’s/Certified Financial Planners?
A. Yes…11 hr. R.E./ 24 hr. CPA’s & CFP’s.