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Get Your Mortgage Loan Originator License in 2021!

 

Iowa 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 Iowa

 

 

Step 1

     

Step 2

     

Step 3

 
 

Apply to Get an NMLS Account and ID Number

     

Take Required NMLS Pre-License Classes

     

Take Your Exam

 
 

You’re going to need your own account on the NMLS online system, along with a unique ID. Get these on the NMLS website.

     

In the state of Iowa, you need 20 hours of approved instruction before you can apply for your Iowa mortgage license.

     

To find out how to schedule your NMLS license exam, get the details here.

 
 

Step 4

     

Step 5

     

Step 6

 
 

Pay for Your Background Check

     

Complete an Iowa Mortgage License Application

     

Add Your Employer to Your NMLS Account

 
 

When you pass your exam, you’ll also need to get your fingerprints taken for a criminal background check. Learn how here. Get your credit report ready, too..

     

There are several steps to actually applying for your license. Complete them all on your application here.

 

     

Each MLO license in Iowa must be connected with an employer to be taken out of “pending” status. Get the needed steps here.

 

 

The Advantages of an Iowa Mortgage License

Being a mortgage loan officer is a satisfying and lucrative career. Are you a people person? You’ll enjoy connecting with people who are excited to work with you. You’ll help them when they’re either walking on air from getting a new home or frustrated with the process. You can make it even better for them.

 

This career is only possible with an MLO Iowa license. Is it hard to find 20 hours to take classes, plus additional time to take an exam and fill out paperwork? Don’t worry, because our education bundles will help you use your time efficiently. Take our practice test to ensure you pass. With Mortgage Educators, you’ll be ready.

 

 

Iowa Mortgage License Education Requirements

Your 20 hours of approved classwork will take you through:

 

  • 3 Hours: Ethics issues, such as fair lending, fraud, and consumer protection

  • 3 Hours: Federal regulations

  • 2 Hours: Non-standard mortgages

  • 12 Hours: Elective topics

 

An education package deal from Mortgage educators will help you understand each topic and check them off efficiently. Get ready for your test confidently.

 

 

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

These sound like the same license, don’t they? But brokers are usually defined as employers or firms, and they need a separate mortgage broker license in Iowa. You, though, will be a mortgage loan officer (MLO), and you might work for a mortgage broker. You’ll need an individual Iowa MLO license.

 

Cost of Getting Your Mortgage License in Iowa

Here’s the small investment you’ll make in fees during the application process:

 

- $30: Initial NMLS Processing

- $50: Registration

- $15: Credit Report

- $36.25: FBI Background Check

 

 

PE Expiration Policy in Iowa

 

At the national level, the NMLS has a policy governing your pre-license education. In general, you can lose the credit for completing classes under these two conditions:

 

- You stopped renewing your license for 3 years or longer OR

- You never applied for your license and then let 3 years pass

 

This policy is in force in the State of Iowa. Your ideal course of action will be to complete your classes, pass your exam, and immediately apply for your Iowa MLO license.

 

Iowa Continuing Education Requirements

 

Many professionals renew their licenses every year or two years, such as insurance officers and physicians. For MLOs, this is an annual process that ensures your knowledge is current and sharp. Your 8 hours of approved education will include:

 

  • 3 Hours: Ethics

  • 3 Hours: Federal regulations

  • 2 Hours: Non-standard mortgages

  • 1 Hour: Electives

 

Be sure to get your renewal submission sent in before December 1 of each year. You’ll owe a $50 renewal fee. If you miss the deadline and need your license reinstated instead, the deadline is February 28, and the fee jumps to $150. There is also a $30 processing fee.

 

 

Start Your Iowa Loan Officer License Education Today

Let’s get you on the road to financial success in a satisfying career. Get your first license with a Mortgage Educators bundle, or come to us for license renewal help. We’ll help you check off the steps efficiently. Click above to get started.

 

 

 

Additional Questions?

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

 

 

 

 

Iowa Mortgage Education Pre-Licensing