search
search

Mortgage Broker Licensing Requirements

Mortgage Broker Licensing Requirements: SAFE / NMLS Licensing Requirements

The SAFE Act of 2008 established requirements for the licensing and registration of all Mortgage Loan Originators except those individuals who work for an insured depository or its owned or controlled subsidiary.

Essentially, Loan Officers need to be licensed by the state in which they do business, which means you must complete the pre-licensing education requirements, pass the state and national SAFE / NMLS exam with a score of 75% or better, then take eight hours of annual continuing education courses to continue your license.NMLS SAFE Training

How Do You Earn A Mortgage Broker License?

You earn a mortgage license by completing your pre-licensing course, passing your mortgage licensing exam, then applying for your license through the NMLS.

Mortgage Broker Licensing: State Requirements

To determine the mortgage broker license requirements for your state, simply click your state name from the table below.

How To Become A Mortgage Broker:
Mortgage Broker Licensing Requirements
Select Your State To Get Started
Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
Texas
Utah
Vermont
Virginia
Washington
WestVirginia
Wisconsin
Wyoming

Recommended SAFE / NMLS License Training Courses

Learn at your own pace with our convenient, cost-effective, state and NMLS-approved mortgage loan officer license training courses.

The Mortgage Training Center offers both online and in-person NMLS licensing and NMLS training courses. Simply choose your preferred option from the recommended courses listed on this page, or you can choose "NMLS" and your resident state from the "Licensing" section of the search box herein, or simply click your state name above.

Recommended Training Courses:

Webinars Or Audio Conferences
Online Training Courses
Find Seminars, Webinars, And Online Training In Your Area
Licensing
Earn your License quickly and easily!
Professional Development
Products & Services to help manage and grow your career!

How To Become A Mortgage Broker: About The National Mortgage Licensing System And Mortgage Broker Licensing Requirements

NMLS stands for National Mortgage Licensing System. The goal of the Nationwide Mortgage Licensing System is to improve mortgage industry supervision, heighten communication across states, increase consistency in licensing requirements, and automate processes to the greatest degree possible.

NMLS is a secured, web-based system that will allow state licensees, companies, branches and loan originators, to apply for, amend, update, or renew licenses online. Each licensed company will have a single record in the NMLS, regardless of the number of licenses they hold or the number of states in which they operate.

Become A Mortgage Broker: About The SAFE / NMLS Licensing Exam And NMLS Certification

After students complete the minimum 20 hours of prelicensing education, they can register for the SAFE Exam. The SAFE Mortgage Loan Originator Exam is divided into two sections: the national component and the state-specific component.

The national component of the SAFE Mortgage Loan Originator Exam consists of 125 test questions: 115 scored and 10 not scored, with a test time of 190 minutes.

Each state-specific component of the SAFE Mortgage Loan Originator Exam consists of 45 to 55 operational questions (scored) with an additional 10 pre-test (not scored) questions. The exact number of scored test questions for each state exam is listed in the state's test content outline. The exam time is 90 minutes with an additional 30 minutes available for completion of an optional candidate survey and tutorial.

A new component to the SAFE Exam is the Uniform State Test (UST). This portion includes 25 questions, which brings the length of the National Test Component with Uniform State Content to 125 questions. Of these, 115 are scored, and 10 unscored. The UST replaces the state-specific test components for ONLY the states that adopt it.

NMLS Certification: Mortgage Licensing and Continuing Education Requirements:

In order to meet the pre- and post-licensing education requirements, state-licensed Mortgage Loan Originators (MLOs) must complete 20 hours of NMLS approved pre-licensing education and eight hours of post-licensing continuing education requirements.

Mortgage Licensing Pre-Licensing Requirements:

For your state-specific Mortgage Licensing requirements, visit the NMLS Website at http://mortgage.nationwidelicensingsystem.org/slr/Pages/default.aspx

Mortgage Licensing Post-Licensing Requirements:

For your state-specific Mortgage CE requirements, visit the NMLS Website at http://mortgage.nationwidelicensingsystem.org/SLR/COMMON/RENEWALS/Pages/default.aspx

MLO Exceptions

While MLOs who work for an insured depository or its owned or controlled subsidiary are not required to take the education or exams, all other MLOs need to be licensed by the state, complete the education requirements, and pass the state and national SAFE / NMLS exams.

Steps To Become A Loan Officer

For information on how to become a Loan Officer, go to http://www.themortgagetrainingcenter.com/HowToBecomeALoanOfficer.asp

About Us Contact Us Privacy Add To eMail List My Account
TheMortgageTrainingCenter.com. 5755 North Point Parkway, Suite 227 | Alpharetta, GA 30022 | 770-410-1219 | support@TheMortgageTrainingCenter.com
Copyright TheMortgageTrainingCenter.com 2018 | Web Site Development by OTAU