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Get Your Mortgage Loan Originator License in 2021!

 

Delaware 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 MLO Mortgage License in Delaware

 

 

 

 

Step 1

     

Step 2

     

Step 3

 
 

Set Up an NMLS Account and ID Number

     

Take NMLS Pre-License Education Courses

     

Get a Passing Score on the NMLS Mortgage Licensing Exam

 
 

Getting a Delaware mortgage license starts by applying for an account and ID number with the Nationwide Multistate Licensing System & Registry (NMLS). You can do this by going to their website.

     

The NMLS requires new state-licensed MLOs in Delaware to complete 20 hours of NMLS-approved education first. The instruction includes 12 hours of undefined education (electives), 3 hours of federal law, 3 hours of ethics, and 2 hours of non-traditional mortgage lending.

     

Once you complete your education, you must schedule and pass your National Test Component exam. Here’s a guide on how to sign up for the SAFE NMLS test.

 
 

Step 4

     

Step 5

     

Step 6

 
 

Pay Fees and Pass Background Checks

     

Submit Your Application for the Delaware Mortgage License

     

Connect Your Employer with Your NMLS Account

 
 

If you pass your exam, you can now get federally registered with the NMLS. The application process involves a background check and fingerprinting appointment, which you can learn more about here.

     

After you pass the background check and finish the fingerprinting, you can apply for a Delaware NMLS license. The NMLS has a checklist of what you need to get licensed in the state of Delaware.

 

     

Until you get an employer sponsorship, your Delaware mortgage license will remain pending. The government does this to ensure that your employer is supervising the license. You can use this guide on how to grant your company access to your NMLS account.

 

 

Getting a Delaware Mortgage License

Getting a mortgage loan officer license in Delaware offers many benefits, such as a high earning potential—especially if you successfully make plenty of loans. You’ll also get to grow your personal and business network as you work with other people and meet more clients. It’s an excellent choice for social people who work diligently and are willing to learn more.

 

Becoming a licensed MLO in Delaware means complying with Delaware’s education requirements and passing the licensure exam. Our mortgage license courses meet the required credits and include test prep sessions so you can pass your exam with confidence.

 

Delaware Mortgage License Education Requirements:

In Delaware, you’ll need a minimum of 20 hours of NMLS-approved mortgage education. The National course and the National SAFE test prep are available as a bundle for only $239 through Mortgage Educators & Compliance. Taking the test prep will help improve your score on the NMLS with UST component.

 

Your course hours include:

 

  • 3 hours of Federal laws and regulations

  • 3 hours of ethics (including consumer protection, fraud, and fair lending issues)

  • 2 hours of non-traditional mortgage lending

  • 12 hours of undefined education or electives

 

Delaware does not currently have any required hours for state laws.

You must complete the new mortgage license education through an online instructor-led (OIL) format or in a live classroom.

 

Mortgage Educators & Compliance offers online instructor-led courses every week, presented via slideshows and pre-recorded videos. You will need to complete several chapters made up of 5-minute sections that each come with a short quiz to check your comprehension of the material. Once you have completed the course, Mortgage Educators & Compliance will report your hours to the NMLS.

 

How is a Delaware Mortgage Broker License Different from a Delaware Loan Officer License?

Many people think mortgage brokers and mortgage loan officers are the same, but they are not. The confusion often leads people to pursue a mortgage broker license when they actually want a mortgage loan officer license. So what’s the difference between the two?

 

A mortgage broker is an entity that brings mortgage borrowers and lenders together. The broker employs mortgage loan officers to originate loans for homebuyers who need a mortgage loan.

 

Cost of Getting Your Mortgage License in Delaware

Below is a list of fees you will need to pay to get your Delaware mortgage license:

  • NMLS Initial Processing Fee: $30

  • DE License/Registration Fee: $250

  • DE Application Fee: $250

  • Credit Report: $15

  • FBI Criminal Background Check: $36.25

 

Your total costs would be $581.25.

 

Delaware MLOs are also required to undergo a $500 annual supervisory assessment by the Office of the State Bank Commissioner through the NMLS.

 

PE Expiration Policy in Delaware

The PE Expiration policy from the NMLS requires individuals to retake their pre-licensure education if they don’t renew their license within three years from the last date of licensure. The policy is still pending enactment in Delaware. Though it’s not enforced now, you can expect it to be implemented soon.

 

Delaware Continuing Education Requirements

To renew your NMLS license, you need to complete your state’s required continuing education hours. MLOs in Delaware must complete at least 8 hours of NMLS-approved continuing education.

 

When you complete the CE courses, Mortgage Educators will make sure that the hours are reported to the NMLS. You’ll then be able to apply for the MLO license renewal and continue carrying your license until next year.

 

The required course hours are as follows:

  • 3 hours of Federal law

  • 2 hours of ethics

  • 2 hours of non-traditional mortgage lending

  • 1 hour of electives

 

Sign Up for Your Course Today

You can count on Mortgage Educators to give you the education you need to obtain your Delaware mortgage license! Get started today by purchasing your online bundle course or continuing education course.

 

 

 

Additional Questions?

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

 

 

 

 

Delaware Mortgage Education Pre-Licensing