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Hawaii Pre-Licensing Bundle
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How to Get an NMLS Mortgage License in Hawaii
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Step 1 |
Step 2 |
Step 3 |
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Apply For Your NMLS Account and ID Number |
Complete Your NMLS Pre-License Education |
Need to Pass the SAFE MLO National Test |
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The first step to obtaining your Hawaii mortgage license is applying for an NMLS account and ID number. To do so, go to the NMLS website. |
Once you’ve created your NMLS account, it’s time to complete your pre-license education. Hawaii requires the 20-hour (17 hours & 3 hour elective) SAFE pre-licensure education course. |
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 test here. Also check out the NMLS MLO testing handbook. |
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Step 4 |
Step 5 |
Step 6 |
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Complete Background Checks and Pay All Fees |
Apply for Your Hawaii Mortgage License |
Associate Your NMLS Account with Your Employer |
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To finalize your application and receive your license, you will need to pay several non-refundable fees and get a background check. Find out more about how to complete your background check here. |
After receiving a passing score on your NMLS mortgage exam, you need to apply for your Hawaii mortgage loan originator license. You can find more information on this step here. |
Your license will still be pending in Hawaii 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. |
Hawaii 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 | 9 Hours |
| Hawaii Specific Education | 3 Hours |
| Total 20 Hours | |
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 Hawaii should be considered an investment well worth your time. Here’s what to expect when it comes to licensing fees in Hawaii:
| NMLS Fees | |
|---|---|
| NMLS Initial Processing Fee | $30 |
| Hawaii License Fee | $200 |
| Credit Report | $15 |
| FBI Criminal Background Check | $36.25 |
| Total License Cost | $281.25 |
On an annual basis, Hawaii 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 |
| Hawaii Specific Education | 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 Hawaii is December 31st. MLO's in Hawaii 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 Hawaii mortgage license. For additional questions, feel free to call us at 801-676-2520 or email us at 20hour@mortgageeducators.com.
