Michigan SAFE 2 Hour | NMLS License

This class from Knowledge Coop covers a variety of NMLS-approved topics while covering how to prepare for and survive examinations and you'll know the required learning objectives such as the fact that that a license will not be issued if the applicant is convicted of a felony within a 10- year period preceding the date of application. We'll cover MCL 493.139, section 9(1)(c)(i) of the Mortgage Loan Originator Licensing Act (MLOLA). You'll understand the license renewal requirements and the penalty for late renewal. You'll know that the license renews annually on 12/31 (MCL 493.145, section 15 of MLOLA), and the late penalty is $25/day ($1,000 maximum fee) if received after December 31 (MCL 493.149, section 19 of MLOLA).  Finally, we'll look at case studies from your state.