The SAFE Act requires that all loan originators register with the Nationwide Mortgage Licensing System & Registry (NMLS), but 3 out of 10 loan originators who’ve taken the National Test Component failed. "The national exam includes questions a reverse mortgage originator without traditional experience wouldn’t typically know," said Jack Belles, President of Reverse Mortgages of New England. He was the first person in his office to take the exam and while passing, he is stressing to his employees the importance of studying.