Get Your Mortgage Loan Originator License in 2023!
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How to Get an NMLS Mortgage License in Washington
1. Apply for your NMLS Account and ID Number
The first step to obtaining your Washington mortgage license is applying for an NMLS account and ID number. To do so, go to the NMLS website.
2. Complete your NMLS Pre-License Education
Once you've created your NMLS account, it's time to complete your pre-license education. Washington requires 22 hours (18 hours & 4 hours elective) SAFE pre-licensure education.
3. Need to Pass the NMLS Mortgage Licensing Exam
With your education complete, you need to schedule an appointment for the National Test Component exam. Find out more on how to take your NMLS exam here.
4. Complete Background Checks and Pay All Fees
To finalize your application and receive your license, you'll need to pay several non-refundable fees and complete a background check. Find out more about how to complete your background check and fingerprints here.
5. Apply for your Washington Mortgage License
After receiving a passing score on your NMLS exam, you need to apply for your Washington NMLS license. You can find more information on how to apply here.
6. Associate your NMLS Account with your Employer
Your mortgage license will be in a pending state in Washington until you have an employer sponsorship, which lets the government know that an employer is supervising your individual license. Learn how to associate your NMLS account with your employer here.
Earn Your Washington Mortgage License
Obtaining a mortgage license and becoming a Washington 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.
Fortunately, Mortgage Educators is here to help. All of our curriculums are created and taught by industry experts with years of experience resulting in rewarding content to help you prepare to get your license and excel in your career as a Mortgage Loan Originator.
Washington 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 |
| Washington Specific Education | 4 Hours |
| Total 22 Hours | |
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 Washington should be considered an investment well worth your time. Here’s what to expect when it comes to licensing fees in Washington:
| NMLS Fees | |
|---|---|
| NMLS Initial Processing Fee | $30 |
| Washington License Fee | $125 |
| Credit Report | $15 |
| FBI Criminal Background Check | $36.25 |
| Total License Cost | $206.25 |
On an annual basis, Washington MLO license holders must complete 9 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 |
| General Elective | 1 Hour |
| Washington State 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 Washington is December 15th. MLO's in Washington 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 Washington mortgage license. For additional questions, feel free to call us at (801) 676-2520 or email us at 20hour@MortgageEducators.com.
Become an MLO in Washington
Whether you are looking for a Washington mortgage license renewal or are seeking to obtain your license for the first time, our courses will help you meet all the educational requirements and prepare you to pass the national NMLS test.
If you have any questions about our courses, or about how to become an MLO, contact us today. We’re more than happy to answer any questions you may have.
