How To Get A Mortgage Loan Originator License
Becoming a mortgage loan originator is a very lucrative profession and earning six figures annually is more of a rule than an exception. However, before you can start your career, you must get a mortgage loan originator license.
Click here to learn more about getting a mortgage
loan originator license.
This post is a step-by-step guide to
getting an MLO license in the USA.
# Ensure that you are at least 18 years
old and a citizen of the USA. Visit the NMLS (Nationwide Mortgage Licensing
System) portal and create an account. The ID number allotted will be valid
throughout your career as an MLO.
# Complete the pre-licensing coursework
consisting of 20 hours of the National section and 2 hours of the state
section. This is mandatory to apply for a mortgage loan originator license as
laid down by NMLS, the controlling body for the mortgage industry in the USA.
Before selecting a course provider, decide
between an online course and a classroom-based one. Online courses are more
convenient as you can study on the go after downloading the study materials to
any Internet-enabled device. Further, you are not tied down to fixed classroom
timings and can study without upsetting your daily routine.
Check out the online NMLS-approved mortgage
loan originator license courses from RealEstateU. Not only are the courses
the best in this niche but the most affordable too.
# After going through the pre-licensing
course, submit your fingerprint for verification of your past criminal record.
Schedule a SAFE licensing test with NMLS. On the given date, appear for the
exam and pass it.
# Find a broker to sponsor you.
# Apply for a mortgage loan originator
license on the NMLS portal.
An active MLO license will now be issued.
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