Washington: 2019 NMLS Mortgage Exam Prep Courses
Ready to get Licensed and be recognized by the state of Washington and the NMLS? Here are the courses you will need to prepare for the National SAFE Act Exam and become a licensed mortgage loan originator in Washington.
OnCourse Learning (a partner to Praedo Institute) is NMLS approved in Washington for Mortgage Exam Prep!
Cost Effective. Convenient. Complete.
PLEASE NOTE: It is recommended that you take an additional 10-20 hours to study for your national exam on top of the 20-hr NMLS pre-licensing Course.
National + UST Mortgage Prep xL
Take your Exam Prep to the next level with personalized learning!
Prep XL is a sophisticated exam prep tool that uses adaptive learning technology to develop a personalized study plan and tailor practice questions and tests to meet your individual needs, taking your exam prep to the next level! You’ll have access to four exams consisting of 125-questions covering the topics included on the national + UST test content outline. Additionally, you will receive interactive flashcards! Review hundreds of important terms and definitions, all preparing you for the NMLS exam. NOTE: This is not an NMLS-approved course and will not satisfy the pre-license education requirements! It is important to note that no individual or course provider is permitted to access the NMLS exam questions
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Advanced: Exam Prep Suite
Save over $187 with this all-inclusive exam prep suite designed for individuals who are new to the mortgage industry! You will gain confidence in taking the rigorous NMLS exam, including the UST, with the extensive exam prep products included in this package. You will receive: Test-Taking Tips including advice on tricky questions and math ($20 value) SAFE Loan Originator Test Prep: National Review Tutorial ($119 value) SAFE Loan Originator Test Prep: Stand-Alone UST ($99 value) Interactive Flashcards covering definitions on the NMLS Exam ($49 value) Exam Prep XL ($99 value) NOTE: This is not an NMLS-approved course and will not satisfy the prelicense education requirements!
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Aspire: Exam Prep Suite
Save over $158 with this package! This exam prep suite is designed for individuals who have some experience in the mortgage industry but need to pass the rigorous NMLS exam! You will receive comprehensive tools to gain confidence in passing the exam. By choosing this package you will receive: Test-Taking Tips including advice on tricky questions and math ($20 value) SAFE Loan Originator Test Prep: National Review Tutorial ($119 value) SAFE Loan Originator Test Prep: Stand-Alone UST ($99 value) Exam Simulator ($69 value) NOTE: This is not an NMLS-approved course and will not satisfy the prelicense education requirements!
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Washington Mortgage Exam Preparation Details
Time to put on your thinking cap and get ready to hit the books, because passing the exam is not easy, in fact, according to statistics gathered by the NMLS, the first time pass rate was as low as 60%, and for subsequent attempts, as low as 43% for tests administered in 2017.
If an individual fails the test, they must wait 30 days before they are eligible to retake the exam. If they fail three times, the waiting period is extended to 6 months. Not to mention, each time the exam is taken there is a fee of $110 - meaning that failing, can be expensive. Many people simply give up.
Rather than take the risk - it’s better to pass the first time. With the proper exam preparation and pre-licensing, you will be well on your way to becoming a licensed MLO. Fortunately, OnCourse Learning (a partner to Praedo Institute) is NMLS approved in Washington for Mortgage Exam Preparation and Pre-Licensing Education.
In order to obtain your Mortgage License in Washington State you must:
- All Mortgage Loan Originator applicants must create an account with the NMLS. All course completion information will pass through this system.
- Federal Law and Washington State Department of Financial Institutions require new MLOs to complete 22 hours of Mortgage Loan Originator pre-licensure education.Federal Law and Washington State Department of Financial Institutions require new MLOs to complete 22 hours of Mortgage Loan Originator pre-licensure education. This education includes: 3 hours of Federal Law, 3 hours of Ethics (which shall include fraud, consumer protection, and fair lending issues), 2 hours of non-traditional mortgage lending, 10 hours of undefined education (referred to as electives), 4 hours of Washington state law. After your required education courses are completed, it will post to the NMLS
- Once your courses are completed and posted to the NMLS, you can take your exam. You must pass the National Test with the stand-alone Uniform State Test (UST). Praedo offers MLO exam preparation courses to help prepare you.
- Once your courses and exam is completed, and posted to the NMLS, you can then take these steps to apply for your MLO license in Washington state. Submit your application fee of $155, including the $30 NMLS System Fee through the NMLS. Submit your fingerprints through the NMLS system. Find out how to schedule your fingerprint appointment here. Submit a credit report through the NMLS (a $15 fee).
- Each MLO licensee is required to renew their license each calendar year. The renewal period opens November 1st. The deadline to submit a renewal is December 15th.