As of June 30, 2018, each affiliate must have a certified Qualified Loan Originator to remain in good standing with HFHI. Illinois is a state that is listed as fully exempt from the Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act) but must still provide evidence that each individual Loan Originator is qualified through state training. This QLO training session will qualify as the state training. A certificate of completion will be emailed to each attendee who completes the training and will be in effect for one year from the date of certification.
There are two courses that must be taken:
- the Federal course offered by HFHI / ABA.
It’s 13 modules. When you complete all of them successfully, you get a certificate to download, then upload to the QLO site on MyHabitat.
- The second course you take is the State course. You still have to take it even though Illinois is now a SAFE Act exempted state. You have to pay for this coursework, You go through a company called Ameritrain (referred by Sonia Lee of the QLO team), and they set you up with a login/password. It’s a self-paced course, just like the ABA course. Once you finish, you get a certificate to upload and then you’re compliant! The contact at Ameritrain is Angela Reid, AReid@Ameritrain.com