Mortgage loan originators in 20 states won’t necessarily need to take multiple state licensing tests when obtaining multiple state licenses as a result of a new uniform test.
On Monday, a new national test component with uniform state content was implemented for mortgage loan originators, according to the Conference of State Bank Supervisors.
The component creates a single test that can meet both national and state testing requirements of the Secure and Fair Enforcement for Mortgage Licensing Act.
The uniform test was originally announced in January.
Including 25 questions for the new domain, there are 125 questions in the national test component with uniform state content.
As a result, originators seeking state licensing beyond one state won’t be required to take a second, state-specific test component in participating states.
The 20 states immediately utilizing the uniform content include Delaware, Georgia, Idaho, Indiana, Iowa, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, New Hampshire, North Carolina, North Dakota, Pennsylvania, Rhode Island, South Dakota, Utah, Virginia, Washington and Wisconsin.
In addition, Alaska, Kansas, Nebraska, Tennessee and Vermont will adopt the test on July 1, while the Texas Office of Consumer Credit Commission and the Texas Department of Savings and Mortgage Lending, will begin using the test on Oct. 1.
More details about the Uniform State Test are online at .
