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How To Become A Mortgage Loan Officer

Loan Officer Licensing

Become A Loan Officer With Our Loan Officer Training Courses!

Do I Need A License To Become A Loan Officer?

If you work for yourself or any organization other than an insured depository, then yes, you need to get a mortgage license to become a Mortgage Loan Officer.

Mortgage Loan Officers need to be licensed by the state in which they do business, which means they must complete the pre-licensing education requirements and pass the state and national SAFE / NMLS exam. Check below for applicable Loan Officer licensing courses for you state.

How To Become A Mortgage Broker:
Mortgage Broker Licensing Requirements
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What Does A Mortgage Loan Officer Do?

Loan officers should be knowledgable about various types of loans, such as FHA, VA, conventional, and commercial mortgages that are offered by the financial institutions they represent.

Essentially, Mortgage Loan Officers gather clients' financial information such as earnings and debts, among many other things, to determine if the applicant qualifies for a mortgage loan. With these basics, they advise potentials borrowers on the best options and type of loan for their needs.

From there, the Mortgage Loan Officer is 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, and communicating the loan decision to the potential borrower. This work includes:
  • Calculating the loan amount
  • Selecting the right loan program and interest rate
  • Estimating closing costs and prepaids
  • Evaluating the loan file based on underwriting guidelines such as income, Loan-To-Value (LTV), and more
  • Providing federal disclosures
  • Preparing closing documents
What Is The Difference Between A Mortgage Loan Officer And A Mortgage Loan Originator?

In simple terms, a Mortgage Loan Officer or a Mortgage Broker works for a licensed mortgage broker, whereas a Mortgage Loan Originator is typically an employee paid by a bank to originate mortgage loans.

About Our Mortgage Loan Officer Training Courses

Once you receive your license, you'll need some training on everything from how to generate clients to how to handle the job duties. Luckily, our Loan Officer training courses will help. Among other thinks, they will teach you how to:
  • Take a loan applicationLoan Officer Licensing
  • Read a credit report
  • Understand a good faith estimate
  • Pre-qualify a buyer
  • Understand debt ratios
  • Interpret income and asset statements
All that and much, much more is available here as you continue your quest to become a loan officer online.

Find Online Loan Officer Training Courses

To find Mortgage Loan Officer training courses, either select a recommended class from the list below, or select "Loan Officer" and your state from the "Professional Development" section of the search box located at the bottom of this page.
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