Education

• Keep your knowledge current.writing image by Petro Feketa from Fotolia.com
  
  Mortgage lenders must complete 20 hours of education in federal law and regulations, consumer protection, fair lending and nontraditional mortgage knowledge.
  
  

Testing

• Demonstrate what you know.taking test image by Petro Feketa from Fotolia.com
  
  Mortgage lenders must pass a written test developed by the Nationwide Mortgage Licensing System (NMLS) and Registry for nationwide licensing. In addition, mortgage lenders must pass a test for each state in which they want to conduct business.
  
  

Fingerprint/Criminal Background Check

• Mandatory background investigation.fingerprint image by dip from Fotolia.com
  
  Mortgage lenders must pass a criminal background check and be fingerprinted with the NMLS.
  
  

Evidence of Financial Responsibility

• Personal finances matter.money and credit card image by Gary from Fotolia.com
  
  The SAFE Act requires that mortgage lenders demonstrate financial responsibility through maintaining impeccable personal finances. Mortgage lenders authorize the NMLS to obtain credit reports from a consumer reporting agency. Any mortgage lender who demonstrates financial irresponsibility through poor credit, liens and judgments may be denied a license.
  
  

Continuing Education

• Keep learning.businesswoman image by Petro Feketa from Fotolia.com
  
  Each year mortgage lenders must complete a minimum of eight hours of continuing education to maintain a current license.
  
  

Mortgage Lender

• Your Mortgage Lenderhipoteca americana image by caironbohemio from Fotolia.com
  
  Check the status of your mortgage lender (See Resources).
  
  If you have a complaint about your mortgage lender, contact your statewide licensing agency and the NMLS (See Resources).