A Step-By-Step Guide To Getting A Mortgage Loan Originator License
This post will take you through all the steps required to get a mortgage loan originator license in the USA.
Click here for more details on how to get a mortgage loan originator license.
So, let’s get started.
# Ensure that you are at least 18 years
old and a citizen of the USA. A high school pass or equivalent is required.
# Visit the NMLS (National Mortgage
Licensing System) portal and create an account. The allotted ID number will be
valid throughout your career as an MLO.
# Go through the 22-hour mortgage
pre-licensing course. This is mandatory to get a mortgage loan originator
license. The course consists of two parts, the 20-hour national section
common throughout the USA and the 2-hour state-specific section covering the
rules and regulations relevant to a state only.
Make sure that the selected course
provider is approved by the NMLS before enrolling. Otherwise, it will not be
counted as having fulfilled eligibility norms to appear for the licensing test.
You can choose either an online course or a classroom-based one. Online courses though are more convenient and flexible. You can download the study materials on any Internet-enabled device and study any time and from anywhere.
Check out the online NMLS-approved
pre-licensing course from RealEstateU, it is among the best in this niche.
# Submit fingerprints for verification of
past criminal records. An adverse report might debar you from getting a mortgage
loan originator license.
# Apply for the SAFE licensing exam on the
NMLS portal. Appear for the test and pass it. Once done, apply for an MLO
license.
# Find a broker to sponsor you. Inform
about your employment status to NMLS.
Comments
Post a Comment