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.

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 Idaho should be considered an investment well worth your time. Here’s what to expect when it comes to licensing fees in Idaho:

On an annual basis, Idaho MLO license holders must complete 8 total hours of Comprehensive Continuing Education that must cover:

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 Idaho is December 1st. MLO's in Idaho 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 Idaho mortgage license. For additional questions, feel free to call us at 801-676-2520 or email us at 20hour@mortgageeducators.com.

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 (SAFE) which was a new federal law which created regulatory practices for loan officers. 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. Every state has a unique set of Nationwide Multistate Licensing System (also known as the Nationwide Mortgage Licensing System or NMLS) requirements concerning mortgage education to obtain a mortgage loan originator license. New mortgage loan originators are required to complete a 20-hour NMLS course, which is standard across the country. Obtaining a Hawaii mortgage loan originator license requires 20 total hours of pre-license education. After completing your mortgage education courses, you are required to take and pass an NMLS mortgage licensing exam. This ensures that you understand the laws and regulations that a mortgage company and mortgage loan officer are held to. In addition to mortgage license education, Mortgage Educators also offers exam prep to help you prepare for the exam. When applying for your Hawaii residential mortgage lending license, loan officers will need to complete a criminal background check, have a mortgage company identified that they will work for, and have a credit report completed.

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 to obtain a residential mortgage loan from a variety of companies. Mortgage brokers frequently employ loan officers who hold mortgage licenses. Mortgage brokers connect homebuyers with different financial institutions to obtain a mortgage loan and negotiates terms of the loan for the consumer.. 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. A loan processor is an individual who assists the loan officer through the origination process by gathering documents, verifying income, and preparing the loan for underwriting. While these are crucial steps to the mortgage lending process, they are not activities that require an individual to hold a mortgage license. Typically, these types of lenders are not a mortgage servicer, and once the loan is originated, it is transferred to a long-term mortgage servicer. Additionally, a mortgage lender that works for a financial institution like a bank or a credit union is not required to obtain a mortgage lending license. Typically, these institutions also double as mortgage servicers and keep the loans in-house. Financial institutions are overseen by a separate entity from the NMLS.

Earning your mortgage broker license in Hawaii should be considered an investment well worth your time. Here’s what to expect when it comes to licensing fees in Hawaii:

On an annual basis, Hawaii MLO license holders must complete 8 total hours of Comprehensive Continuing Education that must cover:

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 Hawaii is December 31st. MLO's in Hawaii 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 Hawaii mortgage license. If you want to become a loan officer and pursue mortgage licenses in additional states, we can help you with those requirements as well. For additional questions, feel free to call us at 801-676-2520 or email us at 20hour@mortgageeducators.com.

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.

Two elective hours must cover Colorado specific regulations and laws. Mortgage Educators includes all of this bundled together, making it easy to keep track of your educational progress.

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 Colorado should be considered an investment well worth your time. Here’s what to expect when it comes to licensing fees in Colorado:

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 Colorado is December 31st. MLO's in Colorado 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 Colorado mortgage license. For additional questions, feel free to call us at (801) 676-2520 or email us at 20hour@MortgageEducators.com.