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North Carolina Mortgage Loan Originator Pre Licensing Education
In order to obtain a license to practice as a mortgage loan originator in North Carolina, you must complete the total 24-hours of required instruction through a NMLS approved provider
License Qualification Requirements
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Be at least 18-years of age
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Be a United States citizen, a non-citizen national or a qualified alien under federal law, or
have a lawful presence in the U.S. and be authorized to work in the U.S. in the real
estate brokerage field -
Have a Social Security Number
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Complete MLO pre-licensing education requirements
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Pass the MLO examination
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Complete a Background Check and Fingerprinting
Your MLO instruction will comprise both Federal and State-specific instruction. It is not necessary to complete the Federal instruction courses before starting the North Carolina-specific course.
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24-hours of total instruction, comprised of:
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3-hours of consumer protection, fraud, fair lending, and ethics
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3-hours of Federal law
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2-hours of non-traditional lending
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12-hours of Mortgage Educators electives
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4-hours of North Carolina-specific issues
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Mortgage Educators Pre Licensing Required Instruction
Pre Licensing Courses:
Self-Paced Online NMLS SAFE 20 Hour Pre-License Course Outline
Chapter 1: Becoming an MLO
In this chapter, we will start our journey to becoming an MLO. Before we can tackle the ins and outs of the products, programs, and process, we need to understand what an MLO is, what other players exist in the industry, and how to even become an MLO. This chapter sets the foundation for students to successfully complete the licensing process and understand the required license maintenance practices.
Chapter 2: Learning the Products and the Programs
Now that students know what an MLO is and what their responsibilities are, we will move on to learning about the products and programs under various government and government-sponsored agencies. We will begin with a conversation about the types of products that an MLO might be able to offer a borrower like fixed-rate, adjustable-rate, and various other types of loans. We will then transition into the programs under Fannie Mae and Freddie Mac, the FHA, VA, and USDA. We will end our conversation discussing nontraditional mortgage products like subprime and non-QM loans.
Chapter 3: Introduction to Federal Law
In this chapter, we are going to dive headfirst into federal law. This chapter will give students a foundational understanding of every federal law that dictates the practices of the mortgage industry. We will look at each of these laws individually in preparation for putting them in context throughout the process in the remaining chapters.
Chapter 4: Processing and Underwriting
Moving forward from the foundation of federal law, we will dive headfirst into the mortgage origination process. We begin our conversation at the beginning with the initial interview, advertising, and the initial application. We will break down the 1003, the initial Loan Estimate and all the initial disclosures. We will end our conversation discussing qualifications of the borrower from income to assets, to the credit report.
Chapter 5: Closing and Funding
Chapter 5 will with analyzing the mortgage, the appraisal and funding and then what happens at closing. We will talk about funding and closing and what can happen even after the loan closes. We will discuss in depth the Closing Disclosure, the right of rescission, settlement and closing agents, and escrow accounts, and an explanation of documents. The chapter will also discuss foreclosures and transfer of servicing, all of which happen after the loan has closed. This chapter will end with a thorough review of all math equations that have been discussed throughout the first 5 chapters of this course.
Chapter 5: Closing and Funding
Chapter 5 will with analyzing the mortgage, the appraisal and funding and then what happens at closing. We will talk about funding and closing and what can happen even after the loan closes. We will discuss in depth the Closing Disclosure, the right of rescission, settlement and closing agents, and escrow accounts, and an explanation of documents. The chapter will also discuss foreclosures and transfer of servicing, all of which happen after the loan has closed. This chapter will end with a thorough review of all math equations that have been discussed throughout the first 5 chapters of this course.
Chapter 6: Mortgage Ethics
Throughout the course we have tackled some ethical dilemmas and federal laws that relate to ensuring that the mortgage industry behaves ethically. In this final chapter, we will go into more depth about what ethics is, what types of fraud exist in the industry, UDAAPs, predatory lending, and steering as well as fair lending. By the end of this chapter, students should have a good grasp of what they should avoid as they enter their new careers.
Final Learning Path & End of Course Assessment
The Final Learning path or chapter in the course consists of two final case studies, the last homework assignment, and the end-of-course assessment. The end-of-course assessment is a 25-question final exam with a pool of 50 questions addressing all information covered in the course. Students will have 15 minutes to complete this end-of-course assessment. The final learning path is 25 minutes.
North Carolina SAFE Specific Course
This 4 hour North Carolina pre-license education course is required by the NMLS for obtaining a mortgage origination license in the state of North Carolina, and covers information specific to the mortgage rules and regulations for the state of North Carolina.
Course Format
Course information is presented in an online video course, led by a recorded instructor along with supplementary literature and content. The Pre-Licensing Course is made up of six different chapters which are broken into sections that require interaction via clicking in order to advance to the next video. Each section also includes a few small quizzes or activities to complete prior to advancing to the next section. Five short homework assignments are also required throughout the course, each of which will be turned in for a grade.
At the end of each chapter there is a chapter quiz to complete in addition to all videos, quizzes, assignments, and the End of Course Assessment. All of these components must be completed in order to receive credit for the course.
Following successful completion of the course students will receive a certificate of completion. This record of completion and completed hours will be submitted directly to the NMLS by Mortgage Educators within seven calendar days.
NMLS 20+4 Hour North Carolina SAFE Comprehensive Online, Pre-Recorded New License Course and Test Prep Completion Tracks
You have 3 track options to complete your pre-licensure course bundle. The required 4-hour North Carolina-specific course will need to be manually added to your course registration at check out.
You will be required to select one of the following track options during registration. Your courses must be completed according to the track you choose: this is a NMLS requirement, and extensions of your course expiration date are not permitted. If you are unable to complete the course within your selected track schedule, you will be required to restart the course and pay a $75 reload fee.
Track Scheduling Options:
5-day accelerated track
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Your access period will begin at 9 am on Monday or Friday
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Day 1 through Day 2: Approximately 9 total hours of course time
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Day 3 through Day 4: Approximately 10.5 total hours of course time
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Day 5: Course Final Exam, approximately 30-minutes of testing time
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10-day weekend-friendly track
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Your access period will begin at 9 am on Friday
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​Day 1 through Day 2: Approximately 6 total hours of course time
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Day 2 through Day 6: Approximately 6.5 total hours of course time
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Day 7 through Day 9: Approximately 7 total hours of course time
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Day 10: Course Final Exam, approximately 30-minutes of testing time
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14-day extended track
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Your access period will begin at 9 am on Monday or Wednesday
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Day 1 through Day 2: Approximately 3 total hours of course time
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Day 3 through Day 4: Approximately 3 total hours of course time
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Day 5 through Day 6: Approximately 3 total hours of course time
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Day 7 through Day 8: Approximately 3 total hours of course time
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Day 9 through Day 10: Approximately 4 total hours of course time
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Day 11 through Day 13: Approximately 3 total hours of course time
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Day 13: Approximately 30-minutes of total course time
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Day 14: Course Final Exam, approximately 30-minutes of testing time
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WHY DO WE PARTNER WITH 1 STOP TRAINING?
Because your education and career success matters! 1 Stop Training is known for being a one-stop licensure resource for all things mortgage training and education! You’re joining a premier NMLS preferred education provider, assisting you in not only completing pre-licensure education requirements, but also fulfillment of your annual MLO continuing education course requirements. As an industry-leading education provider, you will be joining a network of professionals ready to assist you every step of the way!
Engage with an immersive, convenient, all-in-one online educational course bundle.
Learn the most relevant, updated and applicable content with the easy to use platform.
Succeed in a rewarding career upon completing the NMLS exam & application!