How to Get an NMLS Mortgage License in Kentucky

Getting your license to become a mortgage loan originator is a smart career move. You will play a pivotal role in a key sector of the economy. You can also enjoy a lot of work freedom. These steps will help you through the process of obtaining your Kentucky MLO license.

1. Apply to Get an NMLS Account and ID Number

To start the process of getting your Kentucky MLO license, you first need to apply for an NMLS account and associated ID number. To do so, go to the NMLS website.

2. Complete the Required NMLS Licensure Education

You will need to complete the 20 hours of pre-licensure education required in Kentucky.

3. Need to Pass Your NMLS Exam for Kentucky

Once you have your pre-licensure education complete, you need to pass the NMLS exam. Learn more about this requirement here.

4. Get a Background Check and Pay Your Licensing Fees

After the work of passing your licensing test is done, you will need to pay the necessary fees and pass a background check. The steps for doing so can be found here.

5. Apply to Get Your Kentucky Mortgage License

At this point, you will apply for your mortgage license in Kentucky. You can find the steps for this here.

6. Get Your NMLS Number Associated with Your Employer

You will then need to associate your NMLS number with your new employer. Until then, your account is in a pending state. Find out how to do that here.

Why Getting Your Kentucky Mortgage License Is a Good Move

It takes dedication to get your mortgage license in Kentucky, but you will be glad you did. A career as a mortgage loan originator is a rewarding one. You play a key role in a major part of our economy and in the lives of homebuyers.

Working as a mortgage loan originator offers you a great career path with plenty of benefits. You enjoy financial freedom as well as flexibility in your work. The financial independence of an MLO career is just a license away.

Mortgage Educators can help you prepare for your license exam with our pre-license education course bundles. We make the process as straightforward as possible.

Kentucky Mortgage License Education Requirements

Kentucky requires 20 hours of pre-license education for new MLOs. These courses cover a variety of core topics such as law, ethics, and lending. Mortgage Educators has designed coursework that covers all the principles you need to prepare for your licensing exam.

Kentucky’s requirements for new state-licensed MLOs include the following 20 hours of NMLS-approved education:

- 3 hours of Federal law

- 3 hours of ethics (which shall include fraud, consumer protection, and fair lending issues)

- 2 hours of non-traditional mortgage lending

- 12 hours of undefined education (referred to as electives)

What's the Difference Between a Kentucky Mortgage Broker License and a Kentucky Loan Officer License?

While a Kentucky Mortgage Broker License and a Kentucky Loan Officer License can sound similar, they are very different. The difference is rather simple.

A mortgage broker is the company that employs mortgage loan officers. As an individual, you will be pursuing a Kentucky Loan Officer license.

Cost of Getting Your Mortgage License in Kentucky

As part of the licensing process, there are several fees that you will need to pay. These fees include:

- NMLS Initial Processing Fee: $30

- KY License/Registration Fee: $50

- Credit Report: $15

- FBI Criminal Background Check: $36.25

- Total fees: $131.25

PE Expiration Policy in Kentucky

Typically, pre-licensure education must be completed within a certain amount of time of the application for a license. If more than three years has passed, then the education must be repeated. This policy is pending enactment in Kentucky. Mortgage Educators can help you navigate the timing and regulations as you pursue your license.

Kentucky Continuing Education Requirements

On top of pre-licensure education, mortgage loan originators need to complete continuing education to keep their license valid. This helps ensure that you keep up to date with laws and regulations regarding mortgages.

Every state-licensed MLO is required to complete at least 8 hours of NMLS-approved education each year. This begins the year they are licensed, unless the PE was completed that same year. Annual continuing education must include:

- 3 hours of Federal law

- 2 hours of ethics (which shall include fraud, consumer protection, and fair lending issues)

- 2 hours of non-traditional mortgage lending

- 1 hour of KY-specific education

Mortgage Educators Makes Getting Your Mortgage License in Kentucky Simpler

Getting your mortgage license in Kentucky is a sound decision that will pay off. To make getting your mortgage license simpler, contact Mortgage Educators. We offer course bundles that help you get the pre-license education you need in the most straightforward way.

Additional Questions?

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

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