SAFE Act

MLO Test Retake Policy Revised 

The Nationwide Mortgage Licensing System & Registry (NMLS) has announced a change in regard to the number of times a license applicant can retake a licensing exam before being required to sit out a 180-day waiting period.   Under current policy, applicants may who fail the national or state licensing exams, may take the test a total of 4 times before being forced to wait out a 180-day waiting period to try again.  Beginning with any enrollments to take tests on or after August 29th, the number of initial test before the waiting period will be reduced to three.