Abacus Mortgage Training and Education
Welcome to the brand new Abacus website!
Abacus Mortgage Training has been helping the mortgage industry since 1999 and actually started as a Mortgage Company in the late 1980вЂ™s.
At Abacus today, we are still committed to the same standard of excellence the company was built on. As such, we seek out only the best NMLS approved providers, that offer top quality content, at a specially negotiated prices. This is our commitment to you. That we will always find you the best courses, from the best providers, at the best price. That is why we are so proud to announce that we have partnered with Mortgage Education (Provider ID: 1400051) to provide you with top quality training.
Get Your License
Renew Your License
Prepare for the Test
Compliance FHA Processing
Abacus Mortgage Training and Education specializes in helping you find the mortgage education that fits your learning style.
We work directly with NMLS education providers and can help you to find the best courses from the best providers in the mortgage industry and make sure you get your training at the lowest price possible .
The economy has gone through many changes in the last 20 years; in the last 5 years, the mortgage industry even more so. New rules and regulations that are in place have fundamentally transformed how loan officers get and maintain licensure, how mortgage applications are taken, how loans are closed and so much more.
Abacus Mortgage Training and Education actually started out as MoneyNet Mortgage Planning Services in the 80s and continued to originate mortgage loans into the late 2000s. Founder Paul Donohue’s main focus and philosophy was building “customers for life” through honesty, integrity, and professionalism; helping make the dream of homeownership possible for tens of thousands of families. During this time, Paul and his team at Abacus were also committed to delivering ground breaking mortgage training and education across the country to tens of thousands of individuals and companies large and small, as an NMLS approved education provider. Francis Donohue has been the National Sales Director at Abacus for over 7 years and has continued to help mortgage companies and loan originators nationwide reach their goal of mortgage excellence.
When you call or email, one of highly knowledgeable Abacus’s team members will help you get started fast.. or Francis might just answer the phone, he may not always be available to speak immediately; however, he loves to provide personalized solutions for each person he talks to and would be happy to spend that time speaking with you.
Abacus Mortgage Training and Education specializes in helping to find the mortgage education that is right for you. While we are not an NMLS approved course provider and we donвЂ™t have courses approved by NMLS we can help you to find course providers and courses that are.
We have also recently aligned with NMLS approved education provider Mortgage Education.com (nmls id 1400051) to help bring you the very best training possible and at an extremely affordable price.
Mortgage Education was also founded on the same principles of honor and excellence and hence why we are a natural fit to assist you together in your education experience.
All NMLS approved PreLicensing Courses are fully licensed and approved by Mortgage Education (nmls id 1400051)
A little mortgage food for thought, especially if you are a first time visitor to Abacus Mortgage Training and you intend to get your mortgage license.
NMLS Test First-Time-Pass Success Requires Both Mortgage Broker Education and Loan Officer Training
It is critical that the NMLS Test and the licensing process does not stand in the way of your staffing, if you are a company, or limit your employment opportunities if you are an individual. Passing the NMLS Test on the first try requires both mortgage training and education.
Why do we insist you need both “education’ and “training?”
Because you must pass the NMLS Test to get licensed; and, you must be able to apply your knowledge to originate mortgage loans successfully.
вЂњLoan Officer TrainingвЂќ is the mortgage industry catch phrase used to mean acquiring the fundamentals of origination mortgage loans. This includes understanding proper disclosure, protecting borrowerвЂ™s rights, mastery of the 1003 form, mortgage math and understanding issues of credit. Your mastery of this specific body of mortgage fundamentals are the basis for todayвЂ™s Mortgage Loan Originator (MLO). Loan officer training deals with a significant percentage of the content addressed on the NMLS Test required by state and federal law as a prerequisite for obtaining your MLO license. In summary, this body of content is far more fundamental and ground-level than the material covered by вЂњMortgage Broker EducationвЂќ.
вЂњMortgage Broker EducationвЂќ is the term used to mean acquiring the mandatory education necessary to meet all state and federal requirements for Pre-licensure Education (PE) and Continuing Education (CE) in order to obtain and maintain your MLO license. While ongoing Loan Officer Training is vital for the new and experienced MLO, passing the NMLS Test requires a comprehensive mastery of mortgage law, the primary and secondary mortgage markets, mortgage processing, loan file underwriting and full understanding of mortgage ethics. The SAFE Act requires individual licensure of Mortgage Brokers, Mortgage Lenders and their loan officers. While Continuing Education is required for licensure renewal, as long as the MLO properly maintains their Loan OfficerвЂ™s License the MLO will not have to repeat the NMLS Test.
We consider both Loan Officer Training and Mortgage Education imperative. You need to meet your basic requirements for licensure which includes sitting for your Pre-license Education, master the test-prep tools and pass the NMLS Test. You also need the fundamental mortgage training to succeed as a mortgage originator, and this requires you become a student of the mortgage business. The national SAFE Act Test will require you to focus on your вЂњmortgage EducationвЂќ. Success as a Mortgage Loan Officer will require an ongoing commitment to вЂњLoan Officer TrainingвЂќ.
The SAFE Act Test is designed to find any gaps in your knowledge of the mortgage industry and ensure that you are competent to sit across from a borrower with reasonable skill and care.
You can probably see our punch line coming but with so much at stake we don’t consider repetition obnoxious: in no uncertain terms you must obtain mastery over both Mortgage Broker Education and Loan Officer Training for success on the NMLS Test.
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