Under circumstances listed below, the Director of the Division of Real Estate grants reprieve from the Mortgage 101 and Business and Trade Practices portion of the coursework and the General portion of the examination.

To qualify for the exemption, mortgage brokers must meet all five requirements:
1) Currently maintain a mortgage broker license.
2) A member of a mortgage broker association approved for exemption by the Division of Real Estate.
3) Maintain a mortgage broker association designation that is current and in good standing.
4) Provide the letter of certification to the education course provider prior to completing coursework.
5) Provide the letter of certification to PSI prior to taking the exam.

Currently only members of the National Association of Mortgage Brokers (NAMB), Colorado Association of Mortgage Brokers (CAMB) and Colorado Mortgage Lenders Association (CMLA) meet the exemption qualifications. NAMB, CAMB and CMLA members must contact their respective associations for more information.

Mortgage brokers who qualify for the exemption must complete the 19.5 hours of the State and Federal Law portion of the coursework and pass the State and Federal Law portion of the exam.