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Kansas SAFE / Mortgage Licensing

About Kansas Mortgage Licensing

Looking to become a Kansas Mortgage Broker or Loan Officer to serve communities in Kansas? If yes, you've come to the right place!
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The Mortgage Training Center offers a variety of Kansas mortgage licensing and training courses to help you earn your Kansas mortgage license or continuing education credits.

What Does A Kansas Mortgage Broker Do?

A mortgage broker is a licensed professional that acts as a middleman between lenders and purchasers. The broker works to find a mortgage lender with terms and rates that best fit the customer's needs, then going through the required processes and working with the mortgage underwriter to get the loan approved.

What Is The Difference Between A Mortgage Broker And A Mortgage Loan Officer?

Basically, the Mortgage Broker is the business owner and the Mortgage Loan Officer is an employee of the Mortgage Broker. In some instances, like a single-person shop, the Mortgage Broker does the work of the Loan Officer. Bottom line, the Mortgage Broker is responsible for the work output and complying with applicable laws.

What Does A Mortgage Loan Officer Do?

A Mortgage Loan Officer starts the mortgage application process by gathering from potential borrowers the information needed to start that borrower's loan review process. This includes things like W2s, 1099s, bank statements, tax returns, etc.

They are responsible for working with the borrower to complete mortgage loan application, submitting the application to underwriting, following up on any additional information needed or requested from the underwriter, then communicating the loan decision to the potential borrower.

How Do Mortgage Brokers Make Money?

Mortgage brokers make money by dealing with lenders who discount the cost of their mortgage product to allow a mortgage broker the ability to charge a fee by submission of a loan package for funding. This relationship between a mortgage broker and a lender is called wholesale lending.

About The Kansas Mortgage Broker Licensing Requirements

The SAFE Act requires that state-licensed Mortgage Loan Originators (MLOs) pass a written qualified test with a score of 75% or better, complete at least 20 hours of pre-licensing education courses, and take eight hours of annual continuing education courses.
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Kansas Mortgage Licensing Requirements

The SAFE Act requires states to establish minimum rules and standards for the licensing and registration of mortgage loan originators. This allows easy access to a Loan Officer and Mortgage Broker's credentials and allows the public to know what kind of mortgage history these providers have.

Essentially, the SAFE Act requires that state-licensed Mortgage Loan Originators (MLOs) pass a written qualified test with a score of 75% or better, complete at least 20 hours of pre-licensing education courses, and take eight hours of annual continuing education courses.

For further details on Kansas Mortgage Broker Licensing requirements, go to:

Office of the State Bank Commissioner
700 Jackson, Suite 300
Topeka, Kansas 66603
785-296-2266
Fax 785-296-0168

For more information on this state's mortgage licensing requirements, go to https://nationwidelicensingsystem.org/slr/Pages/DynamicLicenses.aspx?StateID=KS
Disclaimer: This information provided is based on state laws and regulations, and is subject to change. While we make every effort to asure this information is current and accurate, it is not engaged in rendering legal or professional advice, and shall not be held responsible for inaccuracies contained herein.
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