NMLS Adds More States to the Uniform State Test (UST)-Updated Adoption Table Dated 5-23-2017-Effective 9-16-2017

Rule Synopsis:

On September 16, 2017, South Carolina will adopt the NMLS Uniform State Test (UST) and will no longer require an individual State exam. With South Carolina’s adoption of the UST, there are only two remaining states where you are not automatically licensed – Minnesota and West Virginia. Those two states still require you to pass a State Exam before applying to do business there.

Interpretive Comments
Please note, if you did not pass or enroll for the stand-alone UST by April 1, 2014, and you want to do business with any State that has adopted the UST, you will be required to retake your National Test, which now includes the stand-alone UST test.

If your score on the stand-alone UST is not high enough to produce a passing score when combined with your passing National Test score, your previous passing result on the retired National Test stands.

The results of the stand-alone UST will not replace the previous National Test result; the individual’s combined score and the final result will be added to the NMLS record, and displayed in the testing record as “SAFE Mortgage Loan Originator Test – National Component with Uniform State Content.”

We are also attaching a FAQ document about the UST in the “supporting resources” section so that you have the most current information.

Loan Originator/Processor/Closer/Underwriter/Manager/Owner Interpretation

Keep up to date on the most recently added states for the UST.

Supporting Resource:

Jayne Combs, Staff Writer

Copyright – 2017 – MortgageCurrentcy.com

2017-12-27T12:02:44+00:00 November 4th, 2017|NMLS|