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Get Your Mortgage Loan Originator License in 2021! 

 

 

Maryland Pre-Licensing Bundle

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Starting at: $429 Now Only $299!

Use Promo Code: MDPE299

 

 

Licensed in another state and want to add Maryland?

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Now Only $99.98!

Use Promo Code: MDPE99

 

 

 

 

How to Get Your Mortgage License in Maryland

 

 

Step 1

     

Step 2

     

Step 3

 
 

Apply for Your NMLS Account and ID Number

     

Complete Your NMLS Pre-License Education (PE)

     

Pass the NMLS Mortgage Licensing Exam

 
 

The first thing you need to do to get a Maryland mortgage license is to apply on the NMLS website, for an NMLS account and ID number.

     

State and Federal law require you to complete pre-licensing education courses. To become an MLO in Maryland, you must undergo 21 hours of SAFE pre-licensing courses, of which 16 hours will be standard NMLS courses and five hours must be Maryland-specific classes.

     

Once you’ve finished your PE courses, you’ll be ready to attempt the NMLS Mortgage Licensing Exam. You must schedule the exam online. We have a complete walkthrough to help you know what to expect.

 
 

Step 4

     

Step 5

     

Step 6

 
 

Complete Background Checks and Pay All Fees

     

Apply for Your Maryland Mortgage License

     

Associate Your NMLS Account with Your Employer.

 
 

Once you pass the test (you’ll need a score of 75% or higher), you can apply for the NMLS License by submitting paperwork, paying the required fees, and completing a criminal background check. See our guide for more information.

     

apply for your Maryland mortgage license (you’ll need both to operate as an MLO).

     

Until an employer agrees to sponsor you in Maryland, your mortgage license will remain in pending status. Associating your account with the employer offering you sponsorship isn’t hard.

 

 

 

Get Your Mortgage License In Maryland

If you’re looking for a rewarding career that allows you to help people, earn good money, and enjoy a relatively flexible schedule, then getting your Maryland Mortgage license might be for you. You don’t even need prior experience or a college diploma.

 

It does take a fair amount of commitment to become an MLO in Maryland. You’ll need to finish the required coursework, pass the exam, and find an employer who will sponsor you. But that hard work will definitely pay off in the end.

 Maryland Mortgage License Education Requirements:

 

To take the NMLS exam, you must go through a pre-license education course whose instruction fulfills SAFE Act requirements. The SAFE Act was enacted after the financial crash of 2008 and is meant to ensure basic standards “for the licensing and registration of state-licensed mortgage loan originators.”

 

Maryland requires the completion of 21 hours of pre-license education before you can take the mortgage license exam. Purchasing a course bundle can help you save money on your pre-license education. Mortgage Educator offers high-value classes for a great price. Use our coupon code for a discount at checkout.

 

 

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

 

It’s easy to confuse the two, so let’s break it down. With a mortgage broker license, you can:

 

1. Start your own mortgage brokerage.

2. Serve as the liaison between financial institutions and those who wish to get a loan for real estate purchases.

 

With a mortgage loan officer license, you can:

1. Get a job with the mortgage broker

2. Help individuals with mortgage application paperwork

3. Negotiate loan terms on the broker’s behalf

 

Cost of Getting Your Mortgage License in Maryland

Getting your mortgage license in Maryland is an investment. You’ll need to pay for your pre-license education course, as well as the following fees:

NMLS State Processing Fee - $30.00

Credit Report - $15.00

Background Check - $36.25

Licensing/Registration Fee - $225.00

Investigation Fee - $1.00

National Exam - $110.00

 

While you don’t have to, we also strongly encourage you to purchase quality study aids.

 

PE Expiration Policy in Maryland

If you fail to renew the Maryland MLO license three years from the last time you received a valid license, you will have to retake all 20 hours from the PE Courses.

 

Maryland Continuing Education Requirements

If you don’t want to end up retaking 20 hours of PE, you will have to renew the MLO license. License renewal requires that you take a few hours of Continuing Education (CE) classes each year.

The state of Maryland requires 8 hours of continuing education courses which includes:

3 hours - law

2 hours - ethics

2 hours - nontraditional mortgage training

1 hour - Maryland state-specific instruction

 

Become a Maryland MLO

Ready to become a Maryland MLO and embrace your new career?

Purchase our SAFE pre-license education bundle to begin learning about getting your MLO license in Maryland.

 

Additional Questions?

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

 

 

 

 

Maryland Mortgage Education Pre-Licensing