Mortgage Broker Licensing
American Real Estate College is honored to be among the select few to offer the 40 Hour Mandatory Broker Licensing course. We've been involved from the beginning. We were among the original signors of the 1st licensing bill offered to the State Legislator in June of 2000. We are a part of the Governor's task force to create the course. In addition, we are also a part of the committee that creates and approves the questions for the Mortgage Brokers exam. American Real Estate College has been involved in Mortgage Broker education for the past 14 years.
The President/Owner of American Real Estate College has served for 6 years as a board member of the Colorado Association of Mortgage Brokers (CAMB). He and his very capable instructor staff have been involved in over 75,000 real estate transactions. No one in the industry has been more committed to making the mortgage broker licensing transition as easy as possible. American Real Estate College is the recognized standard for all mortgage and real estate licensing.
PRE-LICENSE EDUCATION:
Each new and current mortgage broker must have completed the 40 hours of pre-license course work and pass the state examination before January 1, 2009. The Colorado Educational requirements for mortgage broker licensing are as follows:
State & Federal Laws and Regulations - 19.5 Hours
Mortgage Brokerage 101 - 16 Hours
Business & Trade Practices - 4.5 Hours
ON-LINE CLASSES:
On-line virtual classroom now available. There is no other on-line course like it! CUSTOM MADE AND DEVELOPED FOR THOSE WHO ARE NOT USED TO OR JUST PLAIN HATE TRADITIONAL ON-LINE COURSES. You will love this course!
Foreclosure - The very finest foreclosure and short sale course available - period.
FHA - It will be the market - you will be ready.
RESPA - The most confusing part of our industry - but not for you.
Appraisal - How to legally work with appraisers - things have changed. Also, how to intelligently discuss the appraisal report with your underwriter.
Mortgage fraud - Mortgage brokers are being fined, prosecuted and even imprisoned- many simply from lack of knowledge.
Proper forms - 1003, GFA, TILA, plus the latest required - and how they are to be filled out.
What's next - You may be surprised.
Plus much more.
This is the best mortgage course available anywhere at any price. You may choose to go through the motions with other programs just to get it done, or invest the same amount of time and effort in a course that will pay for itself many times over.
LICENSING IN OTHER STATES:
Upon completion of this course through American Real Estate College you will have met the education requirements of 24 other states. This is a great opportunity to expand into other markets.
EXEMPTIONS:
If current mortgage brokers can document a professional designation from CAMB/NAMB they would not be required to complete the 16 Hour - Mortgage 101 course or that portion of the state examination. They would still have to complete the 19.5 Hour - Federal and State Law course and pass that portion of the state exam. It is estimated that less than 50 individuals will qualify for this exemption.
CONTINUING EDUCATION:
The 40 hour mortgage broker education has been approved for elective continuing education for real estate brokers and appraisers. Continuing education for mortgage brokers is still under discussion by the Colorado Mortgage Broker Program.
STATE EXAM:
The state mortgage broker examination will be administered by PSI. The state examination is available at PSI testing centers effective April 1, 2008. Students must complete the required 40 hour pre-license education before taking the state exam. The phone number for PSI is 1-800-733-9267.
COURSE AVAILABILITY AND COST:
The in class Mortgage Broker education program is $595.00. For early bird sign up special total cost including materials is $399.00 for the first 100 enrollments.
In class study is available in metro Denver, Colorado Springs, and Loveland. Refer to calendar for dates and times.
FREE TEST PREPARATION:
All registered students are invited to attend the State Licensing Exam Cram course on Saturdays from 9:00a.m. To 12:00 p.m.
Sign up on-line or call today!
Thank you for your interest in American Real Estate College (formerly AJ Educational). While exploring the market for your best education source, a number of questions will influence your final decision. You will no doubt analyze passing percentages by each school, which of course, is important. There is, however, another aspect that is far more significant and is not generally mentioned in a schools promotional material. This MOST SIGNIFICANT item is student success in the field after they pass the state exam.
American Real Estate College has consistently scored among the very highest in its state pass rate, but what we take greater pride in is the success of our students after they graduate.
We track this by the response of broker managers within the profession. They consistently rave about our graduates knowledge and will go out of their way to recruit our students. Two to three times a week these companies provide lunch to our students just for the opportunity to persuade you to work with them.
Upon graduation from American Real Estate College you will be in great demand. Of course you are always welcome to stop by the school and talk to our current students.
WE ARE THE ONLINE ALTERNATIVE!
When you take an on-line course and when you decide that it isn't working, give us a call. Our distance learning DVD courses are one of a kind. You may take the entire course in the comfort of your own home or borrow a DVD for a class you missed. Ask about further explanation of this state of the art DVD education system before you commit to any ON-LINE course. When you see the difference between DVD compared to online, the choice will be obvious.
We try very hard to keep our atmosphere fun and relaxing. Many have complimented us as being the best real estate education available at any price. Call today to find out why.
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