Mortgage Educators and Compliance is proud to present this great deal through the UAMP. Through them, we are able to provide you with quality education for both seasoned, and aspiring mortgage loan originators.
Look through the links below for the education that best suits you, and don't forget to use the coupon code: UAMP30 to get the best deals on your education! Call 877-403-1428 or UAMP@mortgageeducators.com for any additional questions.
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Remember, for any other products you can use the code UAMP30 for thirty percent (30%) off any other item!
Can't seem to find what you're looking for? Check us out here on our site to see what else we can offer you!
Mortgage Educators and Compliance is proud to present this great deal through the NAMB. Through them, we are able to provide you with quality education for both seasoned, and aspiring mortgage loan originators.
Look through the links below for the education that best suits you, and don't forget to use the coupon code: NAMBM30 to get the best deals on your education!
Only $239 with Coupon Code: namb20hr
Only $59 with Coupon Code: EarlyCE47
Remember, for any other products you can use the code NAMBM30 for thirty percent (30%) off any other item!
Can't seem to find what you're looking for? Check us out here on our site to see what else we can offer you!
Get Your Mortgage Loan Originator License in 2024!
WA Pre-Licensing Bundle
Starting at: $399 Now Only $279!
Use Promo Code: WAPEDEAL
Licensed in another state and want to add Washington?
Now Only $99.98!
Use Promo Code: WAPE99
How to Get an NMLS Mortgage License in Washington
Home ownership is a huge dream for people across the nation, which makes a mortgage loan originator career both lucrative and enriching to pursue. Mortgage Educators and Compliance (MEC) is ready to help you with every step of your journey to get your license as a mortgage loan originator in Washington. We have provided the six steps below.
1. Apply for your NMLS Account and ID Number
You’ll first need to set up an account with the nationwide mortgage licensing system (NMLS) which will provide you with an NMLS ID number to start the mortgage pre-license process. To do so, go to the NMLS website.
2. Complete your NMLS Pre-License Education
After you’ve accessed your account on the NMLS website and received your NMLS ID, you can now register for and take NMLS approved pre-licensure courses for mortgage loan originators. Washington requires 22 hours (18 hours on specified topics & 4 hours of elective topics) SAFE pre-licensure education.
3. Need to Pass the NMLS Mortgage Licensing Exam
All license applicants need to schedule an appointment for and successfully complete the national test component. To pass, you must score at least a 75%. Note that this is not an easy test (the first time pass rate is generally below 60%), but MEC will ensure that you are well prepared to pass the NMLS exam with ease, on the first go. Find out more on how to take your NMLS exam here.
4. Complete Background Checks and Pay All Fees
To finalize your application and receive your license, you'll need to pay several non-refundable fees and complete a criminal background check. As part of your background check, a pull of your credit report will be required. Find out more about how to complete your background check and fingerprints here.
5. Apply for your Washington Mortgage License
After receiving a passing score on your NMLS exam, you need to apply for your Washington NMLS license, but you are well on your way to start your mortgage loan originator business! You can find more information on how to apply here.
6. Associate your NMLS Account with your Employer
Your mortgage license will be in a pending state in Washington, even after passing the national exam, until you have employer sponsorship through a mortgage company or other approved financial institution like a credit union or bank, which lets the government know that an employer is supervising your business activities as a licensed mortgage loan originator and that every financial regulation is followed. In other words, you cannot engage solely on your own; you must be supervised directly at all times once you get your mortgage loan originator license. Learn how to associate your NMLS account with your chosen employer here.
Earn Your Washington Mortgage License
While obtaining a mortgage loan originator license and becoming a mortgage loan officer in Washington is very simple and the compensation can be tremendous, it’s not for everyone. At the end of the day, you are running a loan processing business, so it takes a willingness to learn the basic ins and outs of the industry and a desire to work hard to get that next sale.
That said, the mortgage industry is a great one to get into as it provides a lot of flexibility and can be extremely rewarding. If you like to work hard, you are a people person, and you have a desire to learn, becoming a mortgage loan officer is the perfect choice for you.
Fortunately, we are here to help. MEC’s industry experts with years of experience both created all class curriculums and will serve as a live instructor for each class. This means you’ll get quality education with a live instructor. Each course is informative and entertaining. But the best part is that our experts will assist you in your first steps towards your mortgage loan originator license. Before long, you will excel in your career as a loan officer.
Washington Frequently Asked Questions
In an effort to curb the predatory lending practices that led to the demise of the housing and residential mortgage industry in 2008, the Secure and Fair Enforcement for Mortgage Licensing Act (SAFE) was enacted. This opened up a world of opportunity to those driven to attain an MLO license and then work hard to match people with loan products.
| Topic | Hours Required |
|---|---|
| Fair Lending, Ethics, Fraud, and Consumer Protection | 3 Hours |
| Federal Laws and Regulations | 3 Hours |
| Non-Standard Lending | 2 Hours |
| Undefined Electives | 10 Hours |
| Washington Specific Education | 4 Hours |
| Total 22 Hours | |
Although it hasn't been enacted, be on the look out for the PE expiration policy coming soon. It states - If you complete the required 20 hours of education but do not obtain your license for a 3-year period, you'll need to repeat the coursework. The same applies if you let your license lapse for 3+ years before you want to get back into the industry.
A “mortgage broker” refers to an individual or an organization that connects consumers with mortgage loans from a variety of companies. Mortgage brokers frequently employ loan officers. In contrast, a loan officer is an employee who regularly works with borrowers and provides loans that are originated by their employer. Brokers and loan officers need different types of licenses.
Earning your mortgage broker license in Washington should be considered an investment well worth your time. Here’s what to expect when it comes to licensing fees in Washington:
| NMLS Fees | |
|---|---|
| NMLS Initial Processing Fee | $30 |
| Washington License Fee | $125 |
| Credit Report | $15 |
| FBI Criminal Background Check | $36.25 |
| Total License Cost | $206.25 |
On an annual basis, Washington MLO license holders must complete 9 total hours of Comprehensive Continuing Education that must cover:
| Topic | Required Hours |
|---|---|
| Federal Regulations and Law | 3 Hours |
| Ethics, including consumer protection, fair lending | 2 Hours |
| Non-Traditional mortgage lending | 2 Hours |
| General Elective | 1 Hour |
| Washington State Elective | 1 Hour |
Remember to take into account the “successive years” rule, which prohibits loan officers from taking the same CE course two years in a row.
Mortgage Educators changes its continuing education course annually to ensure there are no issues with the successive years rule.
The deadline to complete CE in Washington is December 15th. MLO's in Washington are actually prevented from applying for license renewal until they have completed their CE.
Mortgage Educators and Compliance is here to answer any additional questions you may have regarding your Washington mortgage license. For additional questions, feel free to call us at (801) 676-2520 or email us at 20hour@MortgageEducators.com.
Become an MLO in Washington
Whether you are looking for a Washington mortgage license renewal or are seeking to obtain your license for the first time, our courses will help you meet all the educational requirements and prepare you to pass the national NMLS test.
If you have any questions about our courses, or about how to become an MLO, contact us today. We’re more than happy to answer any questions you may have.
Mortgage Educators and Compliance is proud to announce that we have teamed up with Tom Jacovino, owner of The CT Professional Business School. Through him, we are able to provide you with quality education for both seasoned, and aspiring mortgage loan originators. Please be reminded that we do not offer classes for real estate agents. Look through the links below for the education that best suits you, and don't forget to use Tom's coupon codes to get the best deals on your education!
20 Hour PE Coupon Code: TOM20PE
8 Hour CE Coupon Code: TOM8CE
Remember, for any other products you can use the code TOM3030 for thirty percent (30%) off any other item!
Can't seem to find what you're looking for? Check us out here on our site to see what else we can offer you!
NMLS License Texas: How to Become a Mortgage Loan Officer in Texas
Texas Pre-Licensing Bundle
Starting at: $399 Now Only $269!
Use Promo Code: TXPE269
Licensed in another state and want to add Texas?
Now Only $74.98!
Use Promo Code: TXPE75
Additional General Electives
Texas requires 20 hours of general elective that cannot be fulfilled using any other state specific electives. For your convenience, MEC offers both a 2 hour and 4 hour general elective course to fulfill the license's educational requirements.
How to Get an NMLS Mortgage License in Texas
Are you interested in starting a new career? Learn how to become a loan officer in Texas and get your license from the nationwide mortgage licensing system through this NMLS Texas guide. There are six main steps you need to follow as well as information regarding costs, education, and other requirements to become a licensed mortgage loan originator.
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Step 1 |
Step 2 |
Step 3 |
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Apply For Your NMLS Account and ID Number |
Complete Your NMLS Pre-License Education |
Need to Pass the NMLS Mortgage Licensing Exam |
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The Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (or the SAFE Act) changed the way mortgage loans are processed, including the requirement to register both federally and at the state level through the same registration system, NMLS (or Nationwide Multistate Licensing System), which is fully online. Therefore, the first step to getting the mortgage loan originator license status in Texas is to register with the NMLS by applying online for an account and NMLS ID number. To do so, go to the NMLS website. |
With access to the NMLS website, you can obtain and complete your pre-license education. The Texas Department of Savings and Mortgage Lending requires 23 hours (20 hours & 3 hours elective) of SAFE education before you are able to apply and obtain your mortgage loan officer license. |
With your pre-license education complete, your hours will be reported to the NMLS via your education provider, you will want to schedule an appointment for the National Test. Find out more on how to take your NMLS test here. Also check out the NMLS MLO testing handbook. Note that you must pass with at least a 75% or greater or you will have to take the exam again. The first time pass rate is above 50% at 58% (according to a statement made by the NMLS), but passing is not an easy task. |
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Step 4 |
Step 5 |
Step 6 |
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Complete Background Checks and Pay All Fees |
Apply for Your Texas Mortgage License |
Associate Your NMLS Account with Your Employer |
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To finalize your application and receive your license, you will need to pay several non-refundable fees, including an application fee, filing fees and a criminal background check (this will also include review of your credit report). Find out more about how to complete your background check here. |
After receiving a passing score on your NMLS mortgage licensing exam, you need to apply for your Texas SML mortgage loan originator license. You can find more information on this step here. |
Your license will still be pending with the Texas office until you have employer sponsorship through the bank, credit union, or other company of your choice. This sponsorship lets the government know that an employer is supervising your individual license. Learn how to associate your NMLS account with your employer here. |
Becoming a Mortgage Loan Originator in Texas
We’ll be honest, getting your MLO license in Texas takes determination and dedication. You must focus during instruction, study hard and prepare thoroughly for the licensing exam, and then keep up with continuing education requirements because regulations in lending can change dramatically. There will be times when business is booming and other times when business is slow, so you'll have to learn how to create and stick to a schedule.
With your license in Texas, you can have a lucrative career and receive great compensation for your efforts, but you can also help people’s home dreams come true as you help them buy, rehab, remodel, and renew the house of their dreams. Bring joy to your clients as you help them through each step of the process, including the application, credit check,, underwriting, and closing. Not only can you show your clients how to obtain a residential mortgage loan for purchasing a home, you will also be able to provide mortgage loans for house rehab, remodel, and renewal work so that they can make their house into the home of their dreams.
Texas Frequently Asked Questions
In an effort to curb the predatory lending practices that led to the demise of the housing and residential mortgage industry in 2008, the Secure and Fair Enforcement for Mortgage Licensing (SAFE) Act was passed. This opened up a world of opportunity to those driven to attain an MLO license and then work hard to match people with loan products.
Mortgage license requirements in Texas only require 23 total hours of instruction. NMLS requires 20 hours comprised of:
| Topic | Hours Required |
|---|---|
| Fair Lending, Ethics, Fraud, and Consumer Protection | 3 Hours |
| Federal Laws and Regulations | 3 Hours |
| Electives | 10 Hours |
| Non-Standard Lending | 2 Hours |
| Texas State Law Education | 2 Hours |
| Total 20 Hours | |
The remaining 3 hours must discuss Texas State Specific law. The MEC Texas 3-Hour Elective course is a self-paced online course that covers:
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Home Equity Loan Law.
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Reverse Mortgage Law
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Judicial vs. Non-Judicial Foreclosure
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Texas Savings and Mortgage Lending Department
As an MLO in Texas, you are considered a loan officer. With a Texas Loan Officer license, you can take a residential loan application and offer or negotiate terms of the loan with the employer with which you have an established relationship.
With a mortgage broker license, you are the conduit between residential loan applicants and any number of different lenders.
Learning how to become a mortgage loan officer in Texas takes time and money. There are several steps you must take in registering and applying. The SAFE act has established licensing and registration standards for every Mortgage Loan Originator. If you’re looking to get your Texas MLO certification, you will have to do the following and pay all associated fees:
| NMLS Fees | |
|---|---|
| NMLS Initial Processing Fee | $30 |
| Texas License / Registration Fee | $90 |
| Credit Report | $15 |
| FBI Criminal Background Check | $36.25 |
| TX-OCC Registration | $225 (Includes $25 non-refundable recovery fund fee) | TX-SML Application | $190 | National Exam | $110 |
On an annual basis, Texas MLO license holders must complete 8 hours of Comprehensive Continuing Education that must cover:
| Topic | Required Hours |
|---|---|
| Federal Regulations and Law | 3 Hours |
| Ethics, including consumer protection, fair lending | 2 Hours |
| Non-Traditional mortgage lending | 2 Hours |
| Elective (Mortgage Origination) | 1 Hour |
Mortgage Educators and Compliance is here to answer any additional questions you may have regarding your Texas mortgage license. For additional questions, feel free to call us at (801) 676-2520 or email us at 20hour@MortgageEducators.com.
