Get Your Mortgage Loan Originator License in 2024!
Alabama Pre-Licensing Education
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
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Step 1 |
Step 2 |
Step 3 |
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Get an Online Account and ID Number from NMLS |
Complete Alabama Mortgage License Classes |
Get a Passing Score on the NMLS Mortgage Licensing Exam |
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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. |
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Step 4 |
Step 5 |
Step 6 |
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Get Criminal Background Checks and Fingerprinting |
Apply for an Alabama Mortgage License |
Associate Your NMLS Account with Your Employer |
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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. |
Alabama Frequently Asked Questions
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:
| Topic | Hours Required |
|---|---|
| Fair Lending, Ethics, Fraud, and Consumer Protection | 3 Hours |
| Federal Laws and Regulations | 3 Hours |
| Electives | 12 Hours |
| Non-Standard Lending | 2 Hours |
| Total 20 Hours | |
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.
The NMLS will charge these fees. Note that there are no refunds.
| NMLS Fees | |
|---|---|
| NMLS Processing Charge | $105 |
| Background Check | $36.25 |
| Credit Check | $15 |
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:
| Topic | Required Hours |
|---|---|
| Ethics | 2 Hours |
| Non-Traditional Loans | 2 Hours |
| Federal Law | 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.
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 [email protected].
