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Get Your Mortgage Loan Originator License in 2021!

 

Alabama Pre-Licensing Education

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Starting at: $349 Now Only $239!

Use Promo Code: 20PEDEAL

 

 

Obtaining a mortgage license and becoming a mortgage loan originator involves a simple process in which you will need to complete your state-specific education requirements and take and pass a National exam. Once these two steps have been completed, you're well on your way to becoming a licensed Loan Originator!

 

How to Get Your Mortgage License in Alabama

 

Step 1

     

Step 2

     

Step 3

 
 

Get an Online Account and ID Number from NMLS

     

Complete Alabama Mortgage License Classes

     

Get a Passing Score on the NMLS Mortgage Licensing Exam

 
 

Start going through the process of receiving your Alabama MLO license. It’s essential to get an online NMLS account.

     

This consists of taking a total of 20 hours NMLS-approved education on mortgage loan originator topics, before you can pursue an Alabama mortgage license.

     

After you have completed the required courses, go online and make an appointment to attempt the licensing test. Learn more on how to take your NMLS exam here.

 
 

Step 4

     

Step 5

     

Step 6

 
 

Get Criminal Background Checks and Fingerprinting

     

Apply for an Alabama Mortgage License

     

Associate Your NMLS Account with Your Employer

 
 

Once you earn a passing score on the Alabama MLO exam, you need to complete your background checks, as detailed here.

     

Read here to learn how to complete your Alabama mortgage license application.

 

     

Your license will only become fully active when you enter your employer’s information into your NMLS account. The instructions are on this webpage.

 

 

The Advantages of an Alabama NMLS License

 

When you become an official Alabama loan officer, you’ll be a valuable go-to resource. Everyone will remember that you helped them when they bought their home or another property. In addition, you’ll connect with a wide range of interesting, successful people. 

 

Does it seem like there are a lot of obstacles in your path before you can get your mortgage license? That’s why Mortgage Educators exist. If you’re motivated to start an exciting career, we have the experience to help you get your license fast. Our education bundle will help you complete your 20 hours of classes in simple, bite-sized pieces.

 

Alabama Mortgage License Education Requirements

Before you can get your first MLO (mortgage loan originator) license in Alabama, you are required to finish 20 hours of NMLS-approved classes, split up like this:

 

  • Federal laws and regulations: 3 hours

  • Fair lendings, ethics, fraud, and consumer protection: 3 hours

  • Electives: 12 hours

  • Non-standard lending: 2 hours

 

At Mortgage Educators, we bundle these classes into a single package for one fair price. And this includes practice tests designed to help you pass your actual NMLS National Test when it counts.

 

What's the Difference Between an Alabama Mortgage Broker License and an Alabama Loan Officer License?

Usually, the state only issues an Alabama mortgage broker license to a firm that employs several officers and other workers to sell mortgages. In contrast, an Alabama MLO license is issued to an individual who wants to work as a loan officer within a larger organization.

 

Cost of Getting Your Mortgage License in Alabama

 

The NMLS will charge these fees (and remember that there are no refunds on these):

 

  • NMLS Processing Charge: $105

  • Background Checks: $36.25

  • Credit Check: $15

 

PE Expiration Policy in Alabama

The nationwide PE expiration policy states that an MLO has to repeat their original required classes if they let their license lapse for 3+ years (or don’t finish the licensing process beyond the education step). But nobody is enforcing this in Alabama yet.

 

Alabama Continuing Education Requirements

Once you start working as a licensed Alabama MLO, your license can only stay valid if you take continuing education classes annually, which is one of the license renewal requirements. Classes consist of:

 

  • Ethics: 2 hours

  • Non-traditional loans: 2 hours

  • Federal laws: 3 hours

  • Electives: 1 hour

 

You’ll pay $75 to get your license renewed and $25 for reinstatement. The deadline for your annual application is December 31, although Alabama recommends turning it in by the first of November to avoid delays. At the same time, if you applied before December 31 and are still waiting for a reply, you can continue working on and after January 1 of the next year.

 

Start Your Alabama Mortgage License Education Today

To keep your MLO education organized and convenient, you should get a full test preparation and licensing package, which we at Mortgage Educators have carefully designed to help you earn your MLO license for the first time. Or select a continuing education package. Start on the road to an exciting career today.

 

 

 

Additional Questions?

Mortgage Educators and Compliance is here to answer any additional questions you may have regarding your Alabama mortgage license. For additional questions, feel free to call us at (801) 676-2520 or email us at 20hour@MortgageEducators.com.

 

 

 

 

Alabama Mortgage Education Pre-Licensing