Getting A Mortgage Loan Originator License
If you want a lucrative career in the mortgage industry as an MLO (mortgage loan originator), your first step should be to get a mortgage loan originator license before setting up practice in a state. This post will take you through the finer points of how to go about getting one. Click here to learn more about getting a mortgage loan originator license. First, ensure that you are at least 18 years old and a citizen of the USA. Now, visit the National Mortgage Licensing System (NMLS) portal and open an account. The ID allotted to you will remain valid throughout your career as an MLO. Go through the 22 hours of the mortgage pre-licensing course. This is a critical step to getting a mortgage loan originator license. The course consists of 20 hours of national section and 2 hours of state-specific section that deals with the laws and regulations prevailing in the state only. Make sure that the course provider is on the NMLS-approved list to be ...