As a busy mortgage loan officer, you need to complete continuing education each year, but should you do NMLS classes online or attend in-person classes? The choice of format for your NMLS CE classes can impact how easy, enjoyable, and useful your learning experience is.
In this article, we’ll compare MLO classes taken online versus those in a traditional classroom. There’s no one-size-fits-all answer, but by looking at factors like flexibility, learning style, and networking, you can decide which approach to mortgage CE classes fits you best.
Flexibility and Convenience
Online CE shines when it comes to flexibility. If you opt for NMLS classes online, you can complete them from anywhere:
- Home
- Office
- Wherever you have internet access
This format often allows self-paced study. You might log in during an evening or over the weekend, and you can start and stop as needed. For MLOs juggling client meetings and loan closings, that convenience is a game-changer. You don’t have to travel or block off a full day. You fit the coursework into your schedule.
In contrast, in-person CE classes require you to be at a specific place at a specific time. For example, an in-person class might be an 8-hour session on a Saturday or two four-hour evenings at a training center. This can be tough if you have a busy or unpredictable schedule. You’ll need to commute to the location and plan for possible traffic or time away from the office.
On the plus side, being physically present can force you to set aside time with fewer distractions, meaning no incoming emails or family interruptions during class. But overall, for sheer scheduling ease, online courses win. You can usually find a wider selection of course dates and times online, too, including last-minute options if you’re nearing a deadline.
Verdict on flexibility... Online CE offers maximum convenience and is generally better for time-strapped loan officers. In-person classes require more planning but can provide a focused environment.
Learning Style and Engagement
Your personal learning style is an important factor. Do you learn best by reading and self-directing, or do you prefer live interaction?
Online self-paced courses are great if you like to learn at your own speed. You can:
- Rewind videos
- Re-read text
- Take breaks as needed
However, the downside is that it’s easy to lose focus or procrastinate when you’re on your own. There’s no instructor looking at you or classmates to keep you accountable. Some MLOs find they sign up for an online course and then keep putting it off since “there’s always tomorrow,” until they’re up against the renewal deadline. If you sometimes struggle with motivation or get distracted while working on a computer, pure self-paced online learning might be challenging.
In-person classes (or live webinars) provide real-time interaction. There’s an instructor in front of you, able to answer questions on the spot. You might:
- Engage in discussions
- Ask questions when a concept isn’t clear
- Hear others’ experiences in the industry
This can make the material more interesting and understandable. The group setting can also help you stay engaged. It’s harder to zone out when you’re part of a live class. On the flip side, in a classroom, you have to keep up with the group’s pace. If the material is too slow or too fast for you, you don’t have much flexibility. You’re all going along together.
For those who crave some interaction but still need flexibility, live online webinars or virtual classes are a middle ground. They happen at a scheduled time with an instructor on a video conference, so you can ask questions and feel part of a class, but you attend from home. These still require blocking that time on your calendar, but they eliminate travel.
Verdict on learning experience... In-person (or live) classes tend to be more engaging and suit people who learn through discussion and Q&A. Online classes suit self-starters who are comfortable learning solo. If you need human interaction to stay interested, try a live webinar format as a compromise.
Networking Opportunities
One often overlooked benefit of continuing education is networking. In-person CE classes naturally bring mortgage professionals together in one room. During breaks or group activities, you might:
- Chat with fellow loan officers
- Swap business tips
- Forge referral relationships
Especially for local in-person classes, you could meet real estate agents, brokers, or other industry folks from your area. These connections can be valuable. You never know, a casual classroom conversation could lead to your next big referral source.
Online courses generally lack this networking element. If you do a self-paced online course, you’re essentially alone. Even live online classes have limited networking (perhaps a chat box for students, but it’s not the same as face-to-face interaction). For some MLOs, missing out on networking is not a big deal. You might have other avenues to meet peers. But others really enjoy the camaraderie of an in-person class, finding it motivating and rewarding to share experiences.
If building relationships is one of your goals, consider doing at least some of your CE hours in person. For example, some loan officers will attend an annual conference or trade association event that offers CE classes. This way, they check off the education requirement and mingle with industry colleagues at the same time. It can be a two-for-one... learning plus networking in one trip.
Verdict on networking... In-person classes clearly offer more opportunity to connect with others. Online CE is more isolated. Decide how important meeting peers and expanding your network is to you when choosing your CE format.
Content and Quality Considerations
No matter which format you choose, make sure the mortgage CE classes cover the required content and are high quality. Both online and in-person courses must be NMLS-approved and follow the same curriculum standards (3 hours federal law, 2 hours ethics, etc., plus any state-specific topics). So, an 8-hour online course and an 8-hour classroom course should, in theory, teach you similar core material. The difference is in delivery.
Some people worry that online classes are “easier” or “not as in-depth” as classroom ones. In reality, reputable online courses often include quizzes and interactive elements to make sure you’re absorbing the information. Many are developed by experienced instructors and even include video lectures.
If you pay attention and engage with the content, you can learn just as much online. However, if you tend to skim through online text without truly digesting it, you might not retain as much. That’s more about personal study habits than the format itself.
In-person classes vary by instructor. A fantastic instructor can bring the material to life with real-world examples and adjust on the fly to student questions. A less engaging instructor might just read slides for 8 hours, which isn’t great, no matter where you are.
The quality of the course (online or offline) often depends on the provider and instructor, so it’s worth reading reviews or asking colleagues for recommendations. Whether online or in-person, choose a course provider known for making classes engaging and useful, not just a marathon of PowerPoint.
Cost Differences
Cost can be a consideration, though the difference between formats is often minor. Online CE courses are typically priced competitively, and you might save on travel costs by not driving to a class. Many online courses cost around the same or even less than live classes because providers can serve more students virtually.
In-person classes might have a slightly higher fee, especially if they’re in a premium location or include extras (like lunch, conference access, etc.). If you have to drive far or take a day off work, factor in those indirect costs too. However, if your company or branch offers in-person training for free or reimburses expenses, that might sway you to attend live.
One thing to watch... some providers offer package deals for online courses, bundling CE for multiple years or including extra resources. These can be a good value if you plan to stick with online learning. On the other hand, if you only need this year’s hours, a single in-person class might do the job without any subscription or package.
Verdict on cost... Online CE often ends up cheaper when you consider zero travel and competitive pricing. But the difference is usually not huge; your decision should likely weigh other factors more heavily, unless you’re on a very tight budget.
Making Your Decision
So, which is better for you... online or in-person? Consider these questions:
- How busy is your schedule? If you absolutely can’t carve out a full day, online self-paced is probably the way to go.
- Do you need structure to get things done? If you know you’ll procrastinate or struggle alone, a scheduled class (in-person or webinar) can keep you accountable.
- Do you value networking and discussion? Choose at least some in-person training to meet fellow professionals and learn from group interactions.
- What is your learning style? For visual or solitary learners, online is great. If you learn by talking through scenarios, you’ll prefer live classes.
- Is technology comfortable for you? Most online platforms are user-friendly, but if you hate computers, a traditional class might be less frustrating.
Many mortgage professionals end up doing a mix over the years. For instance, you might do online CE most years, but attend an in-person class or conference workshop occasionally to shake things up (and network). Others stick exclusively to one format because it fits their routine best.
Both online and in-person CE have their merits. NMLS CE classes taken online offer unmatched convenience and are ideal for self-directed learners. In-person MLO classes provide engagement and networking that can enrich your experience.
What’s most important is that you complete your continuing education reliably each year and get value out of it, not just doing it to “check the box.” Whether in a virtual classroom or a real one, choose the format that will help you learn the material, stay licensed, and grow as a mortgage professional.
Happy learning, and here’s to making your continuing education work for you!