20 Hour SAFE Comprehensive PE
3 Days Live Classroom Training
NMLS Approved Course # 1121
Tuition (Includes all NMLS credit banking fees)
$330.00 Live Training In Marietta, GA
Visit our training calendar here and pick you training date.
View A Few Minutes Of Capstone Institute's live training.
Why 3 days and not 2 days of training like other companies offer?
Capstone students who take our training and advice are reporting over a 87% first time passing rate on their NMLS National & State testing. The third day of extra instruction makes all the difference. If you're just starting your career in the mortgage industry you really need that extra day in order to have the highest chances of passing your NMLS national test the first time. The national NMLS test is extremely difficult even for experienced loan originators. The NMLS is currently reporting that only 68% of registrants pass their test the first time.
Almost 1/3 FAIL! Many of these people took an online or two day cram course. Many of theses people were experienced loan originators. If you fail your national test the first time you must wait 30 days and repay another $92.00 to take the test again. If that is not bad enough, you'll have to continually keep studying and reviewing your training materials for another 30 days to keep your comprehension levels high enough to pass your test the second time.
Let's talk about academic comprehension and retention levels. With our 26 years of mortgage training experience, it is our opinion that there is simply too much information to be thoroughly covered and all student questions answered in 2 (ten hour) days or in an online class. There simply is not enough Student /Teacher interaction and communications. In our 3 day class we have "BUILT IN" the time to allow our students to ask questions, discuss issues and get meaningful answers from their instructor. Many of our students have never been in any type of banking job before and their passing rate with our instruction is equal to experienced loan originators who are reentering the mortgage business. We believe this is why Capstone has over a 87% first time pass ratio.
NNLS training is counted as time in the seat. That means your actual class time being instructed and not counting any break time. Can you remember when you were back in school dreading you first class of the morning which was only 1 hour and your homework was only reading 20 pages? After that class how much did you remember at lunch time?
Capstone's SAFE Act manual is over 525 pages and you're responsible for understanding every page before you take your national test.
(Click To View Capstone's SAFE Act training manual table on contents) 525 pages! You'll understand every page when you've completed our training.
Capstone Institute Instructors
All Capstone Instructors have a minimum of 10 years of current practical mortgage banking knowledge and all have at least 5 years of live mortgage training experience. Many individuals have mortgage knowledge but few have the ability to pass this knowledge on to others.
Every Instructor who works for Capstone Institute must first sit the entire SAFE Act class and participate in the class as a student. Then the instructor applicant must study Capstone's instructor course manual and then instruct a live 2 hour learning module under the supervision of one of our senior instructors. The instructor applicant is then critiqued by our staff and their students. If successful they will be permitted to instruct the entire SAFE Act course on their own but still under the supervision of a senior instructor. If again they're successful, the Instructor applicant will receive Capstone Institute's designation as "Instructor" and be permitted to instruct the SAFE ACT course without supervision.
Capstone Student & Company Support 800-229-8556
Supporting our students and major clients after training is, and always will be, our highest priority. You will always hear a live person at the other end of the telephone when you call. If you call after hours we have a full time live answering service which takes your request and passes it on to us the next morning. Have an emergency? Need some help after regular hours? Just tell our service it's an emergency and they'll page a senior staff member to call you immediately. Not everyone passes the SAFE Act test the first time. If something happened after your training and you were prohibited or restricted from studying your materials we will continue to support your effort to retake your test. You may re-sit the entire course or only the areas of training that you were weak on at no charge.
REMEMBER: If you have a mortgage question after training, pick up the phone and call us or e-mail your questions.
What Will The SAFE Act Training Prepare Me For ?
The SAFE Act, as you will learn later in your training, is just the beginning. To be eligible to work for a mortgage lender or broker as a loan originator you must take the applicable SAFE Act training for your State and pass the required test or tests. Once hired, you'll have to learn how to input data into your company's loan origination software and start learning all of the different loan programs offered by your company. You'll need to understand how FHA and VA loans work and how to qualify self employed borrowers. You will also need training in understanding how to properly interview a borrower and how to correctly take a (1003) mortgage loan application.
Completing your SAFE Act training just gets you legal, not competent.
Do I have to take the 20 hour course for every State?
Under the SAFE Act, all states now require at least a 20 hour comprehensive PE course to be completed. Some states require more than 20 hours. For example, Mississippi requires loan originators to have the required 20 hour SAFE Act PE course plus another 4 hours covering Mississippi mortgage regulations and law, for a total of 24 hours. So if you wanted to originate loans in Georgia and Mississippi, you would need to complete a 20 hour course for Georgia and then a 4 hour course on Mississippi law.
What Is The NMLS?
After completing your SAFE Act Training you'll need to pass your NMLS National Test and any separate State required testing. You can find more details about registering and required NMLS fees by visiting the NMLS Resource home page.
The NMLS (Nationwide Mortgage Licensing System) is the agency responsible for the registering of individuals and companies who do residential mortgages. The NMLS does NOT issue State licenses. They act as a clearinghouse, gathering and storing required documentation, and supervising educational providers and collecting regulated fees.
How Do You Get A Loan Originator License?
As a loan originator you must first be hired by a Lender or Broker and then your employer will submit you file to the State where you will be originating and request that your license be placed under their company name. When the State receives the employer's license request it will then contact the NMLS and have your completed file forwarded to them for review. Your NMLS file must be complete and all fees paid before the NMLS will send your file to the State for licensing review. Most employers will require you to have your SAFE Act training and testing completed before hiring you.
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