California Mortgage School
Cost Effective. Convenient. Complete
As your partner in Mortgage Education in California, Praedo is approved by NMLS to provide online mortgage loan originator (MLO) pre-licensing education and continuing education courses. Praedo also provides exam prep classes. Praedo provides all of the online MLO courses you'll ever need for your career in the mortgage industry. Use the Mortgage Course Finder to find the class that’s right for you, or explore to learn more.
- Create your personal record in NMLS. Reference NMLS Quick Guides.
You will provide your NMLS identifier number to your course providers.
Your NMLS identifier will also allow you to schedule your exams after completing your required education.
- Applicants must complete 20-hours of pre-license education in the following areas through a NMLS-approved provider such as Praedo:
- Three hours of federal law and regulations.
- Three hours of ethics, including fraud, consumer protection and fair lending issues.
- Two hours of training related to lending standards for the nontraditional mortgage product marketplace.
- Twelve hours of undefined instruction on mortgage origination.
- Education hours required for MLOs include: mortgage principles, mortgage loan origination, Real Estate Settlement Procedures Act (RESPA), Homeowner's Protection Act (HPA), Truth in Lending Act (TILA), Privacy laws, Fair lending laws, Loan process and underwriting.
- Federal law and California's Department of Real Estate requires that:
You must pass the NMLS national exam, including the Uniform State Test (UST) component.
You must also pass the NMLS California state exam.
- Complete the MU4 Form (Individual Record) in NMLS. This is your application for licensure. The company you are affiliating with will need to sponsor you for an approved (active) license. If you do not have a sponsor, your license will be in an inactive status until you have an employer sponsorship.
- Pay all licensing fees as assessed in NMLS.
- In addition to the pre-license education, continuing education in California is also required annually by the Department of Real Estate.
- Meet the statutory licensing qualifications of honesty, integrity, truthfulness, reputation, and competency.
No felonies in the last five years OR misdemeanor involving fraud, misrepresentation, theft, or dishonesty within the last three years.
- Be at least 18 years of age at the time of application.
- The SAFE Act requires that each MLO applicant submit a set of fingerprints through NMLS.
- Applicants are required to authorize NMLS to obtain a credit report.
- Every licensed MLO (in any approved status) is required to complete a total of 9 continuing education hours annually.
8 of these hours include the SAFE Act requirements for state-licensed MLOs and 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, plus one additional hour of undefined education (referred to as an elective).
- MLOs who have completed pre-licensure education (PE) course requirements in the same year in which the license was approved, is not required to complete CE.