Prior to applying for a MLO license, the applicant must first complete 20 hours of NMLS approved licensing education comprised of the following,
- 3 hours of Federal law;
- 3 hours of Ethics;
- 2 hours of non-traditional mortgage lending;
- 2 hours of Colorado state-specific defined electives; and
- (The 2 hours of state-specific content may also be completed as a standalone course.)
- 10 hours of general electives.
Once you complete the licensing education, you must pass the National SAFE MLO examination with uniform state content.
Colorado Division of Private Occupational Schools (DPOS) Oversight FAQ
Background Information: DPOS has regulatory oversight of private occupational schools (and their educational services & courses) who are in located Colorado. DPOS also oversees out-of-state schools who actively solicit, recruit and enroll Colorado residents as students. Any school, in state or out of state, providing MLO pre-licensing education to Colorado students must be approved by the Colorado Private Occupational School Board upon completion of the application and review process through the DPOS connect system. A school that only offers continuing education that is necessary to maintain a Colorado state license is exempt from the DPOS process.
Question: I offer a 2hr PE CO course do I need to go through the DPOS application and review process?
Answer: To be exempt from the DPOS application and review process, schools must abide by one following two conditions:
- Offer educational services for which no money or other consideration is paid.
- Do not actively solicit, recruit, and enroll Colorado residents as students.
Question: I offer 2hr PE CO to students who already hold an MLO license in another state, do I need to go through the DPOS application and review process?
Answer: No, pre-licensing education taught to students who already have MLO licenses do not need to go through the DPOS approval process.
Question: I am seeing approval with DPOS to offer my courses in Colorado. Do I also need to be approved by NMLS?
Answer: Yes. In accordance with the federal SAFE Act, all courses intended to satisfy the education requirements to obtain and maintain a MLO licenses are required by the approved by NMLS.