Individual Continuing Education Online Course; NMLS Course Number: 7396


There is a lot of information packed into one credit report that is key in qualifying borrowers for loan products. This course provides a foundational knowledge of processing and underwriting credit, and will help unravel the wealth of information contained in credit reports as well as provide a methodology for reconciling credit and handling credit problems that may be uncovered in analysis.

What it's about

This self-study online course is designed to provide you with the information you need to adhere to customer identification practices and anti-money laundering laws and regulations.

NMLS 7396

Please note that the SAFE Act specifically prohibits the taking of the same course in successive years.


Module 1
Section 1: Credit Report Characteristics

  • Ordering the Credit Report
  • Types of Credit Reports
  • How Long is it Valid?
  • Address Information
  • Employment Information
  • Public Records
  • Credit Report Codes

Section 2: Identity Warnings

  • Misrepresentation
  • Fraud Alerts
  • Active Duty Alerts
    Total running time approx - 10 minutes

Module 2
Section 1: Reconciling a Credit Report

  • Accounts That Do Not Belong
  • Contingent Liabilities
    • Divorce
    • Co-signed Obligations
  • Duplicate Accounts
  • Fraudulent Debt
  • Outdated References
  • Account Histories
  • Payment Amounts
  • Recent Inquiries
  • New Accounts
  • Mortgage Reference

Section 2: Credit Problems

  • Consumer Credit Counseling Services
  • Judgments
  • Bankruptcy
  • Foreclosure
  • Divorce
    Total running time approx – 14 minutes

Module 3
Section 1: Nontraditional Credit
Section 2: Credit Risk Analysis
Total running time approx – 10 minutes

Case Study
Total running time approx – 10 minutes

Final Assessment
Total running time approx. – 10 minutes


This course is designed for anyone who works in the mortgage industry seeking to learn or enhance their existing knowledge of processing and underwriting credit. It is geared primarily for loan originators and processors but contains crucial information about credit that will prove beneficial for job roles in operations and servicing.


Each self-paced, self-study course examines a particular topic, allowing students to hone in on a focused set of learning concepts. Each course is designed with learning objectives, comprehensive course materials, learning reinforcement activities that appeal to various learning styles and real world examples, with audio and/or video recordings of industry experts.

The final exam is completed online with instant grading, and you can download your industry-recognized certificate of completion after you successfully pass the course. This course will take no less than one hour to complete.


This course satisfies one hour of NMLS-approved Continuing Education training as an elective. Tuition for this course is $60.00 and includes the Credit Banking and Admin Fee applicable to this course.

Students have until December 31 in the year in which the course is purchased to complete the course. You may complete the course at any time during this period. However, course providers are afforded seven calendar days to credit the student’s NMLS account following successful completion of the course. It is strongly advised that you complete the course at least one week prior to the December 31 deadline.

NOTE: The SAFE Act specifically prohibits the taking of the same course in successive years.

For more information or to register by phone, call your Regional Account Executive at (800) 848-4904 or email