Our NMLS-approved classroom course provides all of the tools to help you successfully complete your required MLO pre-licensing education – and prepare you for your exam. Our courses are flexible and convenient, allowing you to mix and match day sessions and night classes.
A 20 hour class in NY SAFE Mortgage Loan Origination is approved by NMLS.
This 20 Hour NY SAFE Comprehensive Mortgage Loan Originator course is designed to meet the core criteria established by the SAFE Act for national mortgage loan originators, including three hours on federal lending legislation, three hours on the critical topic of fair lending and ethics, and two hours on nontraditional lending products. In addition, the text presents elective topics selected to give students the information they need to successfully enter the mortgage lending field. This course provides a primer on the primary and secondary mortgage markets, as well as a review of the economic, legal, and valuation aspects of the real estate market. This text also details types of loan products and finance instruments—including conventional, government, and nontraditional financing tools—available today. Students will also learn the fundamentals of the residential mortgage lending process—from pre-qualifying potential borrowers, to understanding appraisals, to closing a loan.
The Secure and Fair Enforcement Mortgage Licensing Act also requires all states to implement a mortgage loan originator licensing process. The New York Legislature responded by passing New York Banking Law Article 12-E, Licensed Mortgage Loan Originators. This course also examines that and other laws and regulations in the State of New York related to consumer protection that affect the mortgage industry in general and mortgage loan originators specifically. It introduces the Banking D epartment and describes the scope of its authority. It also discusses specific New York law related to the licensing and activities of mortgage bankers, mortgage brokers, and mortgage loan originators. The three hours of state-specific topics are covered in the New York-Specific Supplement.
EligibilityAll mortgage loan originators must complete 20 hours of NMLS approved education and become licensed under New York laws.
To become a loan originator you must have completed at least 20 hours of education during the two years immediately preceeding the time of application. You must also pass the loan originator exam not more than one year before the granting of the license. To access the testing service and learn more about taking a SAFE test, by downloading the MLO Testing Handbook.
The following test administration fees are in effect for the SAFE Act Mortgage Loan Originator Test:
NMLS Unique Identifier – Each loan originator needs to obtain a unique identifier through NMLS. Access the necessary forms for licensing in the state of New York at the NMLS Resource Center
For more information on NY requirements go to http://www.banking.state.ny.us/mbqa1.htm
Classroom and Livestream Courses
Our Classroom and Livestream Courses must be completed within 4 months of registration date. After 4 months, courses will automatically expire and will not be accessible. Students may purchase an extension if they wish to continue in the course after 4 months.
Self-Paced Online
Online students have 4 months to complete their salesperson licensing course. After 4 months, the course will expire and students must purchase an extension to continue. According to New York Department of State regulations, students must complete their online coursework and the school’s final exam within 12 months from the date of purchase. If the student does not complete the coursework and exam within 12 months, the student will have to repurchase and retake the entire course again.
Extension Fees
Students are encouraged to purchase an extension if they require more than 4 months to complete their coursework. The fees charged for extensions are:
| Course | 2 Month Extension | 1 Month Extension |
| 77 Hr Salesperson Licensing | $150 | $100 |
| 75 Hr Broker Licensing | $150 | $100 |
| 30 Hr Remedial | $150 | $100 |
To request an extension, please call the office (212) 967-7508 or send an email info@nyrei.com
Course Completion And Credit
Once you pass the in-person proctored final exam, you will be issued your course completion certificate. The school will notify the state that you successfully passed the course.
Switching Between Online And In-Person Courses
Students may switch between live in-person and zoom streaming classes only. Each class earns credit once, and students won’t receive credit for attending the same class multiple times.
If a student hasn’t started the course yet, they may switch between live in-person or zoom and online self paced.
If a student already started the course live in-person and wishes to switch to online self paced any hours completed online will not transfer and must be retaken. For assistance email info@nyrei.com or chat with someone live via the chat widget on the website.
Refunds less a $25 administration fee will only be given if a written request is received within 3 days of registration and will be made to the original form of payment. If requested after the 3 day period, students will receive school credit that never expires; the credit is transferable to someone else if the course has not been started. No refund will be given once you have attended a class. No refund will be given for any books and/or course materials received. Upon written request, a check will be mailed to you within 14 business days.
To request a refund, please send written notice by email info@nyrei.com.
All students pursuing their license must sit for a proctored school exam after completing their required hours. NYREI is approved to offer the proctored exam online. Please note that it may take up to 24 hours to confirm registration enabling access to the online test. Students must have access to a computer with a camera that can display their face. Students are required to show a government issued ID to take the school exam.
Proctored exams are administered at our Manhattan location on Mondays at 1pm for Salesperson Licensing and Mondays at 3pm for the Broker Licensing. However, you can schedule a private proctored exam at any time convenient to you for an additional $50 proctor fee.
Please note: Students must bring #2 pencils, a calculator, and a valid photo ID. Self-paced online students must bring a printed copy of their Student Affidavit.
If you would like information on taking the proctored exam in an approved location outside of Manhattan, please email info@nyrei.com.
132 W 36th Street, 2nd Floor
New York, NY 10018
Phone: (212) 967-7508
Email: info@nyrei.com
