AllRegs Academy Becomes an Approved Education Provider through the NMLS

 AllRegs

Eagan, Minn. (July 30, 2009). – AllRegs, the leading information provider for the mortgage lending industry, is pleased to announce that AllRegs Academy has gained approval as a mortgage education course provider (#1400024) through the Nationwide Mortgage Licensing System & Registry (NMLS). The Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act) requires that pre-licensing and continuing education courses be approved by the NMLS. The NMLS was established in 2004 as an initiative of state mortgage regulators in order to provide a standardized system aimed at streamlining the mortgage licensing process.

Established as part of the Housing and Economic Recovery Act in 2008, the SAFE Act is intended to improve consumer protection and reduce fraud through establishing various licensing standards. Currently, 20-hour pre-licensing and 8-hour continuing education courses are set as the minimum requirements in every state. In order to meet these S.A.F.E. Act requirements, courses must be approved by the NMLS.

The criteria for granting course provider approval established by the NMLS includes course quality and rigor, student satisfaction, ensured instructor qualifications, provided evidence for satisfactory course completion, and legal/business integrity. AllRegs Academy has successfully met all of the established criteria, allowing AllRegs to take the next step in submitting specific pre-licensing and continuing education coursework for approval by the NMLS.

“We are proud to have been deemed an approved mortgage education provider by the National Mortgage Licensing System & Registry, and thank the NMLS team for their commitment to building this industry-wide, federally-mandated licensing and registry initiative,” said Dan Thoms, senior vice president for AllRegs. “At AllRegs, we are committed to helping our customers stay compliant with the industry’s changing regulations while meeting their education and training needs. It is our goal to be the premier source for S.A.F.E. Act continuing education and help industry professionals meet their licensing requirements.”

To learn more about developments of the S.A.F.E. Act requirements, or for more information about any of the products AllRegs Academy has to offer, please visit www.allregs.com or call (800) 848-4904.

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About AllRegs

First introduced in 1989, AllRegs is used by virtually all of the top 100 lenders as well as throughout numerous governmental agencies, including Fannie Mae, Freddie Mac, the FHLBs, FHA, VA, RHS, Ginnie Mae, and more. AllRegs is a Mortgage Technology Magazine Top 50 Service Provider for 2009 and the exclusive electronic publisher of the Fannie Mae and Freddie Mac Single and Multi-Family Seller/Servicer Guides, The Federal Home Loan Banks’ MPF Program Guidelines, and CalPERS’ Member Home Loan Program Guidelines. Products include single and multifamily underwriting & insuring guidelines as well as federal compliance laws and regulations, state compliance laws and regulations with plain-language analyses, policy and procedure manual templates, contract publishing services and a library of historical guidelines. The educational division, AllRegs Academy, offers distance learning, classroom training and practical guides, with courses approved for continuing education. AllRegs is FICO’s preferred training provider for the mortgage industry and the official training provider for the National Association of Mortgage Brokers (NAMB). For more information, call (800) 848-4904 or go to www.allregs.com.

For more information contact:
Krista Sabol, AllRegs
(651) 289-4809