A Brief Outline Of The Mortgage Loan Originator Course
For aspiring mortgage loan originators, the first step to realizing their goal is to get a license to practice. While there are several eligibility norms to fulfill before a license is awarded, the most important ones are completing the mortgage loan originator course and passing the licensing exam.
This post will give you all the
information about the mortgage loan originator course and certain
important points to consider.
Click here for
more information about the mortgage loan originator course.
The National Mortgage Licensing System
(NMLS) which is the controlling body for the mortgage industry in the USA sets
the curriculum and the number of hours of coursework required to get a license.
As mandated by the NMLS, all aspiring MLOs must complete 22 hours of pre-licensing coursework. 20 hours of the mortgage loan originator course cover the subjects that are common to all states in the country. The remaining 2 hours focus on the mortgage fundamentals, practices, and principles relevant to specific states.
The mortgage loan originator course selected
by you must be approved by the NMLS, otherwise, it will not be counted as
having fulfilled the requirements set by the body to appear for the licensing
exam. Rather than spending time and money unintentionally going through a
non-approved course, visit the NMLS portal to check the list of approved course
providers.
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