More States Adopt Uniform Originator Test

Another 10 states have adopted a uniform mortgage loan officer test that makes it easier for MLO’s who want to be licensed in multiple states—bringing the total to 30 states, according to the Conference of State Bank Supervisors.

Twenty states already use the National SAFE MLO Test that combines the national and state testing requirements required by the Secure and Fair Enforcement for Mortgage Licensing Act of 2008.

State bank supervisors in the following 10 states have just adopted the uniform MLO test: Alabama, Alaska, Indiana, Kansas, Montana, Nebraska, New Jersey, Tennessee, Vermont and Wyoming.

The adoption of the National SAFE MLO Test streamlines the licensing process for MLOs seeking licenses in multiple states, according to North Dakota financial institutions commissioner Bob Entringer.

“An originator who passes the new test is compliant with the SAFE Act testing requirements in 30 states,” he said.