Frequently Asked Questions (FAQ's)
Important things to know about pre-licensing education for MLOs. The NMLS (Nationwide Multistate
Licensing System) requires that all MLOs comply with the SAFE Act (The Secure and Fair Enforcement for Mortgage Licensing Act), which requires prospective MLOs to meet national Pre-License
requirements towards obtaining a mortgage license.
What are the steps to become a Mortgage Loan Originator (MLO)
- Obtain your NMLS Account and Number
- Complete 20 hours Pre-Licensing Education
- For state specific education requirements please visit NMLS.org
- Take the SAFE MLO Exam and Pass with 75% or higher.
- Background check and Fees (after you pass exam)
- Complete MU-4 (after you pass exam)
- Final step you will need to be sponsored.
What is the cost to get my license?
- National Test $110.00
- NMLS processing fee $ 130.00
- Credit report $15.00
- Criminal Background Check $36.25
- State License fee vary for each State
NMLS 20 Hour Pre-Licensing Syllabus
- Three hours (3) Federal and Regulations
- Three hours (3) of Ethic
- Two hours (2) of Non-Traditional Mortgage product
- 12 hours of Undefine Mortgage Origination