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Obtaining a mortgage license and becoming a Nebraska loan officer is very simple, but it’s not for everyone. It takes a willingness to learn the basic ins and outs of the industry as well as a desire to work hard. The mortgage industry is a great one to get into and it provides a lot of flexibility. 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.
How to Get an NMLS Mortgage License in Nebraska
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Step 1 |
Step 2 |
Step 3 |
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Get Your NMLS Account and ID Number |
Complete Your NMLS Pre-License Education |
Pass the NMLS Mortgage Licensing Exam |
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Before obtaining your Nebraska mortgage license, you must apply for an NMLS account and ID number. Go to the NMLS website to do this. |
After creating your NMLS account, you have to take and complete your pre-license education. Nebraska requires new MLOs to finish 20 hours of NMLS-approved education and 2 hours of state-specific law for a total of 22 hours of instruction. |
Once you’ve completed the required education credits, schedule your National Test Component exam. Use this guide to sign up for the SAFE NMLS test. |
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Step 4 |
Step 5 |
Step 6 |
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Complete Background Checks and Settle Fees |
Apply for Your Nebraska Mortgage License |
Associate Your NMLS Account with a Company |
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Once you pass the NMLS test, you can now apply for your NMLS license. Before submitting your license application, you must authorize background checks and register your fingerprints with NMLS. Find out how to do all of these here. |
Passing results on your NMLS exam allows you to be a licensed MLO in Nebraska. Learn the process of applying for your mortgage license with this guide. |
Your Nebraska MLO license remains in a pending status until you have company sponsorship. Your employer submits a sponsorship request to oversee your individual license. Find out how an employer can sponsor your license here. |
Obtaining an MLO (Mortgage Loan Originator) License in Nebraska
Becoming a mortgage loan officer in Nebraska can be a fulfilling career in the financial services industry. However, the journey to be state-licensed is not an easy path to take. You must be willing and committed to putting in the hours and work to get your MLO license.
If you are ready to take on the challenge, you will need all the help you can get. We offer mortgage license courses that meet Nebraska’s education prerequisites, bundling these with a test prep course to give you a leg up in passing the NMLS exam.
Start charting your path towards a rewarding, flexible career as a loan officer today by partnering with us.
Nebraska 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 |
| Nebraska Specific Education | 2 Hours |
| Total 20 Hours | |
Although it hasn't been enacted yet, the PE expiration policy 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 Nebraska should be considered an investment well worth your time. Here’s what to expect when it comes to licensing fees in Nebraska:
| NMLS Fees | |
|---|---|
| NMLS Initial Processing Fee | $30 |
| Nebraska Application Fee | $150 |
| Credit Report | $15 |
| FBI Criminal Background Check | $36.25 |
| Total License Cost | $231.25 |
On an annual basis, Nebraska MLO license holders must complete 8 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 |
| Undefined 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 Nebraska is December 31st. MLO's in Nebraska 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 Nebraska mortgage license. For additional questions, feel free to call us at 801-676-2520 or email us at [email protected].
