Alera Express

Alera Financial is currently licensed in the states listed below. The information in the following table refers only to Alera Financial acting as a mortgage lender in the following states (not a mortgage broker). To read more information about a required licensing process in a specific state, please click on the links below.

For any specific questions or concerns, please contact our Compliance department directly at compliance@alerafinancial.com.

State	Originator License Required	Licensing Process	Continuing Education Required	Branch Required	Originator / Realtor Allowed on Same Transaction	Dual Capacity Disclosure Required	FHA Financing Allowed*
DE	No	n/a	n/a	No	Yes	Yes	No
GA	No	n/a	n/a	No	Yes	Yes	Yes
IL	Yes	Yes	Yes	No	Yes	Yes	No
MD	No	n/a	Yes	No	No	Yes	No
MS	Yes	Yes	Yes	No	Yes	Yes	No
NC	Yes	Yes	Yes	Yes	Yes	Yes	Yes
SC	No	n/a	n/a	No	Yes	Yes	Yes
TN	Yes	Yes	Yes	No	Yes	Yes	Yes
VA	No	n/a	n/a	No	Yes	Yes	Yes

*VA Financing allowed in all of the above states

The information on this page is provided as a guide for parties interested in employment with Alera Financial. The requirements are subject to change. All parties are responsible for meeting the regulations and requirements of states they wish to originate mortgage loans. Additional fees may apply.

Illinois Mortgage Loan Originator Requirements

Initial registration requirements for Loan Officer/Loan Originator candidates:

Schedule, take and pass the loan originator examination
Complete the criminal background checks
Complete the civil background checks
Complete and submit the Form LO (application) with applicable fees

The above must be completed in order. See the links below for questions and to obtain materials.

Illinois Schedule of Mortgage Originator Fees

Initial Application Fee (Applies to those who are not provisional loan originator registrants)	Illinois Dept. of Financial & Professional Regulation	$125.00
Annual Application/Renewal Fee	Illinois Dept. of Financial & Professional Regulation	$100.00
Background Check (criminal)	Certified Livescan Fingerprinting Vendor	Determined by vendor
Background Check A (criminal – out of state applicant)	Illinois State Police	$39.25
Background Check B (credit/OFAC/civil/License Verification/Employment)	Applied Measurement Professionals, Inc (AMP)	$115.00
Examination	Applied Measurement Professionals, Inc (AMP)	$74.00

**** Please note that the examination must be completed and passed prior to completing the other steps to become licensed as an originator in Illinois

Click on the following links for the data related to the mortgage originator process in Illinois:

http://www.obre.state.il.us/resfin/LO/LOUpdate.htm (Questions and Answers)

http://www.obre.state.il.us/resfin/loanoriginators.htm

http://www.goamp.com/DOCUMENTS/pdf/HANDBOOKS/IL-LO-handbook.pdf (Link for the Handbook)

The above information is provided as a guide for parties interested in employment with Alera Financial. The requirements are subject to change. All parties are responsible for meeting the regulations and requirements of states they wish to originate mortgage loans. Additional fees may apply.

Maryland Continued Education Overview

All "covered" employees defined as the manager of each branch office maintained by a licensee and all employees who have the authority to accept loan applications, and as part of their official duties, directly contact borrowers to negotiate or advise regarding loan terms must satisfy the continuing education requirements during each licensing period.

NOTE: "Covered" employee does not include an employee who has been employed by the licensee for less than six months before the expiration of the licensee’s current license, and has no prior experience as a covered employee with any other licensee.

Required Courses

In order to renew a license each covered employee of a licensee shall successfully complete in the licensing period immediately preceding the current renewal period at least 20 hours of continuing education in approved courses, which shall include at least the following subjects in the number of hours indicated. The current renewal period for Alera runs through 9/27/2008. Each licensing period covers 2 years. Evidence of completion of continuing education requirements must be provided to the Alera compliance department by 9/1/2008.

Ethics — 2 hours
Federal Real Estate Settlement Procedures Act (RESPA) compliance — 2 hours
Federal Truth in Lending compliance — 2 hours
Federal Equal Credit Opportunity Act/Fair Lending compliance — 2 hours
Maryland law update — 2 hours
Federal law update — 2 hours
Electives — 8 hours

An employee who has been a covered employee with any licensee for the immediately preceding 10 years shall be considered to have satisfied the continuing education requirements by completing, during the immediately preceding licensing period, approved courses in the following subjects in the number of hours indicated.

Ethics — 2 hours
Maryland law update — 2 hours
Federal law update — 2 hours

Please see the link below for a list of approved Continuing Education providers:

http://www.dllr.state.md.us/finance

Mississippi Loan Originator Licensing Overview

Initial registration requirements for Loan Officer/Loan Originator candidates

There is a minimum requirement of one year of previous direct mortgage lending experience within the two years prior to the date of the application. If the experience was not located in Mississippi the applicant must complete an approved four hour course and examination on the Mississippi Mortgage Consumer Protection Law (MMCPL)
If you do not have mortgage lending experience, then it is required that you complete a minimum of twenty-four hours of approved education, of which four hours must be an approved course on the MMCPL
Contact the MS Department of Banking and Consumer Finance in writing to request a copy of the fingerprint cards required for a background check. Fax the request to (601)359-3557 or e-mail the request to danielle@dbcf.state.ms.us . A new card is required with the current application even if a previous card was submitted with a previous application. The card must be completed and signed.
Initial Loan Originator Registration Application must be completed, signed and notarized
1. Include proof of one year direct mortgage lending experience within the prior two years of the date of the application if experience was in Mississippi .
2. If experience was not in Mississippi , need a minimum four hour approved course and exam must be taken on the Mississippi Mortgage Consumer Protection Law (MMCPL)
3. If no experience then proof of a minimum of twenty four hours of approved mortgage education courses must be submitted. A minimum of four hours must be an approved course and an exam of the MMCPL. ONLY APPROVED COURSES FOUND ON THE DEPARTMENT'S WEBSITE AT www.dbcf.state.ms.us will be accepted
Registration fee of $100.00 in the form of a cashiers check or money order only made payable to Department of Banking and Consumer Finance

See the link below to go to the State of Mississippi Department of Banking and Consumer Finance site for the mortgage originator application

http://www.dbcf.state.ms.us/mortgage_applications.htm

Registration packages should be mailed to:

Department of Banking
ATTN: Mortgage Division
Post Office Box 23729
Jackson MS 39225-3729
or
Department of Banking
901 Woolfolk Bldg, Ste A
501 N West Street
Jackson MS 39201

North Carolina Loan Originator Licensing Overview

Initial Education requirements and testing:

Before applying for a Uniform Individual Mortgage Application and Consent Form (MU4), an individual must have:

Completed a Mortgage Lending Fundamentals course approved by the NC Commissioner of Banks within the three years immediately preceding the date of the application and
Passed the NC Mortgage Loan Officer Test at an official testing center

After successfully completing the above an applicant must obtain a fingerprint card from the NC Commissioner of Banks or the testing agency. The card is taken to a local law enforcement agency. Applicants must submit the completed fingerprint card and the Authority for Release of Information consenting to a state and national criminal history check once application has been made

Initial Fees

License fee: $101.25 (for any portion of a year)
Credit report/Criminal Check $46.00
Cost of Examination: Varies
Cost of Pre-licensing Course: Varies
Review NC Commissioner of Banks web site for additional fees as applicable.

North Carolina fees must be paid via money order/cashiers check payable to Department of Commerce/Banking Commission or ACH payment/debit/credit card when applying online. All fees are non-refundable.

The above is not an all inclusive list of requirements. Applicants are responsible for reviewing the NC Commissioner of Banks site and meeting the requirements as applicable.

To follow is a link to the NC Commissioner of Banks website with Loan Officer information:

http://www.nccob.org/NCCOB/Mortgage/LoanOfficers/

Tennessee Loan Originator Licensing Overview

Initial registration requirements for Loan Officer/Loan Originator candidates

The Mortgage Loan Originator Registration form must be completed by the Managing Principal of the mortgage licensee or registrant
A certified check or money order in the amount of $100.00 per loan originator registrant must be included. The check should be made out to TN Department of Financial Institutions

See the link below to go to the Tennessee Department of Financial Institutions, Compliance Division

http://www.tennessee.gov/tdfi/compliance/mlo/index.html

Registrations and a certified check/money order should be mailed to:

Alera Financial, LLC
Compliance Division
2840 Plaza Place, Suite 450
Raleigh NC 27612