New Mexico Mortgage Late CE Online Courses 

NMLS-approved online courses provide New Mexico MLOs with required late continuing education

Course Search
Get your New Mexico Late CE mortgage loan originator continuing education with our NMLS-approved course

Our NMLS-approved New Mexico mortgage Late CE course satisfies your ongoing requirements for mortgage loan originator licensure. New Mexico Late CE is required if you did not take your continuing education on time. Take your Late CE today to make-up your New Mexico MLO continuing education. 

Late CE: 7 Hour SAFE Core Examining Industry Issues in Today's Mortgage Market (7623)

SKU : 4303US19110A00

Credit Hours | 7

Category | Elective

$134.00

More Info

As the mortgage industry continues to evolve, mortgage loan originators must stay abreast of the topics most pertinent to their everyday business. Examining Industry Issues in Today�s Mortgage Market provides a review of relevant issues facing mortgage loan originators today, specifically those outlined by NMLS as required topics for continuing education. Students will examine provisions of the Real Estate Settlement Procedures Act, the Truth-in-Lending Act, and the TILA-RESPA Integrated Disclosure Rule, specifically rules for filling out the Loan Estimate and Closing Disclosure for both a fixed-rate and an adjustable-rate mortgage transaction. In addition, students will take a look at the new Uniform Residential Loan Application and provisions of the law related to money laundering in the mortgage industry. This course is NMLS-approved for seven hours of core continuing education required for mortgage loan originators, as specified by the S.A.F.E. Mortgage Licensing Act. Annual S.A.F.E. Act continuing education requirements include three hours of federal law, two hours of ethics, two hours of nontraditional mortgage lending, and one hour of elective education, for a total of eight hours.

Late CE: 1 Hour NM SAFE A Fresh Look at New Mexico Mortgage Law (7453)

SKU : 4303NM19510A00

Credit Hours | 1

Category | Elective

$59.00

More Info

The content for this course is the same as course ID 7453 and is intended to satisfy CE requirements for 2018 or the last year a mortgage loan originator held an active license. Mortgage loan originators who take this Late CE course are prohibited from taking course ID 7453 in 2019. This course will focus on the laws and rules that regulate mortgage loan originators doing business in New Mexico. In Module 1, students will examine the authority of the New Mexico Financial Institutions Division and required conduct for mortgage licensees, including duties related to assessing borrower repayment ability and responsibilities of qualified managers. In Module 2, students will review prohibited practices for licensees under both the Mortgage Loan Originator Licensing Act and the Mortgage Loan Company Act. Students will also take a look at disciplinary action which may be taken when a licensee violates the law. This course satisfies the one-hour New Mexico-specific continuing education requirement for loan originators, as specified by New Mexico law. In addition to one hour of New Mexico-specific education, annual S.A.F.E. Act continuing education requirements include three hours of federal law, two hours of ethics, and two hours of nontraditional mortgage lending.

 

 

Your Success is Our #1 Priority

OnCourse Learning empowers aspiring mortgage loan originators (MLOs) and seasoned mortgage loan officers to take their learning experience to the next level. Get and maintain your NMLS license with:

  • NMLS approved mortgage pre-licensing, continuing education and late CE courses
  • NMLS test prep tools to help you pass your NMLS license exam
  • Over 20 years of mortgage education experience

We’ve helped over 300,000 mortgage brokers begin and advance their careers. Get started today!

New Mexico Mortgage License Requirements

Learn about the New Mexico mortgage education requirements for mortgage licensing.

In the state of New Mexico, mortgage loan originators are required to:

    1. Complete a Criminal Background Check (CBC).
    2. Authorize a credit report through the NMLS.
    3. Fulfill all state and federal education requirements as designated by your state agency.
    4. Take and pass a National Test.
    5. Surety Bond - Each applicant must obtain a surety bond, except that an applicant may use the surety bond of the mortgage loan company they are working for if they are a W-2 employee and sponsored by that mortgage loan company through the Nationwide Mortgage Licensing System. A surety bond in the amount of $50,000 will be required for first year as a licensed mortgage loan originator. After the first year, the surety bond will be based on the total dollar amount of mortgage loans originated annually in New Mexico by the licensee and will be based on the following scale:
      • $0 - $3,000,000 = $50,000 surety bond
      • Greater than $3,000,000 but less than $10,000,000 = $100,000 surety bond
      • Greater than $10,000,000 = $150,000 surety bond

New Mexico NMLS Pre-Licensing Education Requirements:

New state-licensed MLOs are required to complete 20 hours of NMLS-approved education. This includes:

  • 3 hours of federal law
  • 3 hours of ethics
  • 2 hours of non-traditional mortgage lending
  • 9 hours of electives
  • 3 hours of New Mexico state-specific education

New Mexico Continuing Education Requirements:

State-licensed MLOs are required to complete 8 hours of NMLS-approved mortgage education annually beginning the year they are licensed (unless PE was completed in the same year). This includes:

  • 3 hours of federal law
  • 2 hours of ethics
  • 2 hours of non-traditional mortgage lending
  • 1 hour of New Mexico state-specific education

MLOs are advised that to comply with the SAFE Act’s “successive years” rule, they may not take the same CE course two years in a row.

New Mexico Mortgage Licensing: 

NMLS Resources: